A five-year pig raising project involving an investment of USD1.36b was launched on Saturday in Hubei, thus making the central China province the nation’s largest pig raising base.
COFCO, China’s largest oils and food importer/exporter and leading food manufacturer, commenced the project in Wuhan, the provincial capital.
A 500,000-reproducible sow breeding base will be built in the coming five years in addtition to a 10 million live pig raising demonstration project and centres for pig breeding technology research and pig disease prevention will be established, according to Yu Xubo, COFCO president.
Tang Tao, Hubei vice governor, added that the project is expected to bring in an additional income of two billion yuan (USD280m) for local farmers.
Climbing food prices, particularly in pork and vegetable oil, caused a direct 4% rise in the country’s consumer price index last year.