Chongqing Grain Group Invests in Argentina

The Chongqing Grain Group has announced a project to invest in grain production in Argentina. The Chongqing conglomerate has set up a company called "Golden Hope Agriculture Corporation" (金希望农业股份公司) in Argentina with plans to engage in soybean, corn, and cotton production.

The company also plans to grow rapeseed in Canada and Australia, high-quality rice in Cambodia and palm oil in Malaysia.

Other investments by Chongqing Grain Group:

• In 2010, it first invested in 200,000 hectares of soybean production in Brazil. 
• Also in 2010, the company set up a 13,000 hectare rapeseed production base in Canada and planned a 200,000 mt/year oil-processing facility.
• In early 2011 the company launched a processing, storage and port investment project in Brazil.
• The first shipment of soybeans from the Brazil project was made in September 2011.