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Japanese food conglomerate, Itochu Corp. announced it acquired a 33.4 percent stake in HyLife Group, one of Canada’s leading pork producers.
HyLife is an integrated hog producer (from genetics, live production, feed mill to pork processing). Taking advantage of its integrated production system, HyLife supplies pork to markets around the world. It also supplies value-added specialty pork to the Japanese market meeting customer requirement by differentiated feeding.
HyLife is looking to expand its pork products in Japan and Asia through Itochu’s marketing network with a focus on China where consumption continues to grow. In the Chinese market, Itochu will expand the business with Longda Foodstuff Group, a partner of Itochu, through technical exchanges in the field of pig production.
Pig prices are expected to remain high and may increase as the year progresses.
Video part of project to increase transparency in meat, poultry industry
Government is offering subsidies to boost domestic pork production to 53.6 million metric tons by 2015.
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