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China’s Longping High-Tech Agriculture invests in Brazilian corn to grab a third of its corn seed market
2018-05-30
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Longping is investing heavily to grab a third of the country’s corn seed market, and says facing off against Monsanto in the soy seeds market will be next.

Longping High-Tech Agriculture Co, an agricultural firm controlled by China conglomerate CITIC Group Corp, sees Brazil expanding corn output up to 5 per cent per year in coming years and is investing heavily to grab a third of the country’s corn seed market.

The company said it will start building new seed plants in Brazil next year to increase production capacity beyond its current four installations. The plan is to boost its share in a market worth 15 billion reais (US$4.02 billion) from 15 per cent currently to 30 per cent in five years.

The firm said a natural second step will be to enter the soy seeds business, which is dominated by US-based Monsanto Inc.

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