Jiang Zhaobai, Chairman of Penxin Group, says his company owns 650 hectares of farmland near Shanghai, used for sheep, wheat and soybeans, and has another 930ha in Shandong Province for a sheep farm. In 2005, the company invested more than $US20m in a Bolivian soybean and corn farm. It has agricultural interests in Cambodia and Argentina, and is negotiating to buy 200,000 hectares of land in Brazil to grow soybeans and cotton.
Jiang Zhaobai, Chairman of Penxin Group, says his company owns 650 hectares of farmland near Shanghai, used for sheep, wheat and soybeans, and has another 930ha in Shandong Province for a sheep farm. In 2005, the company invested more than $US20m in a Bolivian soybean and corn farm. It has agricultural interests in Cambodia and Argentina, and is negotiating to buy 200,000 hectares of land in Brazil to grow soybeans and cotton.