CP partners with Hainan State Farm Group to build new shrimp farms in China
Thai conglomerate Charoen Pokphand Group (CP) is teaming up with a giant, state-owned firm to farm shrimp in China's Hainan Province.
Earlier this month, representatives from CP and Hai Ken Group – also known as Hainan State Farm Group – met to approve the start to a series of a shrimp farm build-outs; the farms’ eventual output is expected to reach 10,000 tons per year. The project is part of a bigger “modern agriculture” park which will include feed milling facilities, poultry farms, and pig farms producing 300,000 pigs in the Danzhou city region of Hainan.
CP has become a major player in the seafood space through its local aquaculture operations as well as in the distribution of imported seafood to local retailers in China. The firm is also a leading player in the feed market as well as a significant pig farming firm in China, making it a sought-out partner for local governments and agricultural firms across the country.
A large and influential entity in China’s southern tropical island province, Hainan State Farm Group has 60,000 staff workers manning rubber plantations, “tropical agriculture,” tourism, and real estate operations.