Chinese company receives green light to invest in Myanmar cattle industry
Kangrui Agriculture & Livestock Development Company, a joint venture between Shanghai Penghe Supply Chain Management and Dehong Penghe Agriculture Development, is to become the first wholly-owned Chinese firm to invest in Myanmar cattle sector.
The company wants to build a breeding facility in Mahlaing Township, Mandalay Region and the Myanmar Invest Commission (MIC) has already agreed on the investment proposal, informs Myanmar Times newspaper.
According to the investment plan presented by Kangrui Agriculture & Livestock, the animals will be bred domestically and mainly exported to China. In the last couple of years, Myanmar has started cattle exports in a bid to limit illegal trade. The country has exported nearly 500,000 cattle from December 2017 through April 2019. Most of the livestock exports are sent to China and Thailand.
The MIC has also permitted Thailand’s wholly-owned CP Livestock to invest in three cattle businesses worth over $78 million. These include investments in a pullet farm and pig breeding farm in Yangon as well as an animal feed facility in Mandalay.
According to the agreement between parts, Kangrui Agriculture & Livestock Development Company will have to invest $37 million in the breeding facility.
In the last 12 months, China has increased livestock imports in an effort to build its own beef and dairy cattle herd. According to a census from May 2018, Myanmar's cattle herd comprises of 1.8 million buffaloes and 9.7 million dairy and beef cattle.
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