January 23, 2012

China to invest US$7.2 million for 2011-15 grain, oils processing projects

The national development plan for the grain and oils processing industry in 2011-15 period, which bequeaths investment of RMB45.7 billion (US$7.2 million) in key projects, has been released by China's State Administration of Grain.

The key projects include construction of processing parks, technology upgrading, safety test for grain and oils food, demonstration of staple food industrialisation, and emergency processing and supply of grain and oils.

The plan also targets an annual growth rate of 12% for large grain and oils processing enterprises' gross output value in that period.

The domestic grain and oils processing industry has been raising concentration in the past years. In the 2005-10 period, output of the nation's top 20 companies in paddy, wheat and edible oil processing sectors respectively surged 176%, 54% and 132%.