BEIJING, CHINA — Agricultural technology company Origin Agritech Ltd. has received a $35 million order for its hybrid corn from Muyuan Foods Co., Ltd., China’s largest hog farming company.
Muyuan Foods Muyuan purchases over 50 million tonnes of corn feedstock annually, and the initial order with Beijing-based Origin Agritech is part of a 1 million tonne purchase agreement signed for the next five years, the companies announced July 27.
The companies have agreed in principle to collaborate to contract grow Origin's Nutritionally Enhanced Corn (NEC), beginning in the 2023 growing season. Muyuan currently is contract growing about 494,000 acres of farmland to plant hybrid corn and other feed crops in China.
“Origin's NEC corn is revolutionary, as it takes less resources to feed livestock, thus reducing the carbon footprint,” said Fazhan Liu, general manager of Muyuan Grain Trade. “Additionally, partnering with Origin to transition a significant portion of our corn feedstock to NEC will help us to keep our costs under control and thus allow us to continue selling top quality pork products at affordable prices.”
Muyuan Foods, based Nanyang, China, is principally engaged in the breeding and distribution of piglets, boars and commodity pigs through feedstuff processing, hog breeding, boar breeding and commodity pig feeding.