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China's New Hope Liuhe completed its first overseas pig farm in Vietnam.

Aug 28, 2019 (China Knowledge) - Chinese agricultural enterprise New Hope Liuhe (000876) has built its first pig farm in Vietnam—Binh Phuoc Pig Farm, which will be put into production in November this year, adding 300,000 pigs to its annual output.

Founded in 1998, the company's business involves feed, breeding, meat products and financial investment. The company's business covers the whole country and has expanded to Vietnam, Philippines, Bangladesh, Indonesia, Cambodia, Sri Lanka, Singapore, Egypt and other countries.

This is the first overseas pig-raising project of New Hope Liuhe. Besides Binh Phuoc Pig Farm, New Hope Liuhe plans to open two more in Thanh Hoa and Binh Dinh provinces, combining to raise 450,000 hogs a year.

Since 2017, New Hope Liuhe has been planning to raise pigs in Vietnam. During the past two years, the growth of consumption in Vietnam, the increasing market concentration of pig farming have opened up opportunities for industry consolidation. In addition New Hope Liuhe has sound reputation and established network in the local market

At present, the company's production capacity in Vietnam is still fairly low and the meat will be mainly sold locally. Moreover, China has strict requirements on pork imports, therefore Vietnam cannot import pork into the country for the time being, but if future conditions permit, it will not rule out the possibility of supplying chilled meat products back to China.

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Publication:China Knowledge Newswires
Geographic Code:9CHIN
Date:Aug 28, 2019
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