October 26, 2011

ITOCHU and China's Heilongjiang to collaborate in seed development

Japan-based ITOCHU Corp. sealed an agreement with Heilongjiang Academy of Agricultural Sciences to collaborate in the seed industry and modern agriculture park.

The cooperation will promote agricultural development in northeast China's Heilongjiang province, the biggest commodity grain production base in the country, and will expand Japan's farm products market as well.

The two parities started cooperation in the agricultural field in June of last year when they inked an agreement on farm products' safety inspection and varieties development to guarantee Heilongjiang's exports to Japan. During October the same year, they signed an agreement on jointly building modern agriculture parks.

China's major granary Heilongjiang is expected to achieve grain production increase for the eighth year running in 2011, with the output likely to top 57.5 million tonnes, up 7.5 million tonnes over last year. The Japanese ITOCHU Corp. is engaged in wide businesses of fibre, machine, grain and oils, and food.