New neighbors soon!
China's state-backed Beidahuang Land Cultivation Group will acquire 200,000 hectares of farmland overseas this year in exchange for developing logistics and warehousing on the properties, Chairman Sui Fengfu said.
"We're planning 3 million mu (200,000 hectares) of projects this year," Sui said, adding that these tracts are in countries including Brazil, Argentina, Venezuela, Russia, Australia, Zimbabwe and the Philippines.
Sui later told local media the company uses different methods of acquisition, including land leases or outright purchases, depending on the country.
China's food prices rose 11% in February, continuing to feed sharp inflationary pressures.
China's state-backed Beidahuang Land Cultivation Group will acquire 200,000 hectares of farmland overseas this year in exchange for developing logistics and warehousing on the properties, Chairman Sui Fengfu said.
"We're planning 3 million mu (200,000 hectares) of projects this year," Sui said, adding that these tracts are in countries including Brazil, Argentina, Venezuela, Russia, Australia, Zimbabwe and the Philippines.
Sui later told local media the company uses different methods of acquisition, including land leases or outright purchases, depending on the country.
China's food prices rose 11% in February, continuing to feed sharp inflationary pressures.
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