Dongfang Modern Agriculture Holding Group, China’s No.2 producer of citrus fruit, said it was considering distributing fruit grown by Australian farmers in the Chinese mainland. That could be good news for Australia’s faltering push to brand itself as “Asia’s fruit bowl”, with exports of fruit from the country to China still only standing at around $30 million a year. “We hope to become a beachhead for Australian primary industries to export to China through our distribution network,” Cai Hongwei, Dongfang Chairman, told Reuters on Monday [16 October 2015] through an interpreter…Full Article: ECNS.cn Oct 2015
- In October 2015, Dongfang Modern raised AUD$39.2 million (US$28.5 million) of its initial public offering on the Australian Securities Exchange (ASX). The company hope to raise AUD$50 million.
- In 2014, Dongfang Modern had a 1.2% market share in China, second to Asian Citrus.
- It had a 1.2 percent market share in 2014 and competes with companies including the largest producer in the country, Asian Citrus.
- Founded in 2005 and headquartered in just outside Sydney in New South Wales, Australia, Dongfang Modern Agriculture Holding Group (aka Dongfang Modern) is the second largest producer of citrus and camellia (e.g. tea and tea oil) products in China. In 2014, the Dongfang Modern produced more than 200,000 MTs of citrus products (e.g. tangerines/mandarins, pomelos, navel oranges) and camellia products. As of 2015, the company’s 19 plantations (~8,000 ha) were located in Jiangxi province, southeastern China.