Argentina nears China hog deal it hopes could turbocharge local pork production
BUENOS AIRES/BEIJING (Reuters) – Argentina is nearing an initial agreement with China that could pave for the way for potential investments by the Asian giant in local pork production for export, Argentina’s undersecretary of trade and investment promotion told Reuters.
That could eventually lead to Chinese-backed hog farms in the South American nation more famed for its cattle-rearing grasslands, at a time when Beijing is looking to diversify pork supply after domestic farms were hit hard by African swine flu.
Pablo Sivori said a memorandum of understanding could be signed with China in the coming weeks. The country’s foreign minister Felipe Sola said earlier this month Chinese investment could help Argentina massively increase pork output.
“We have already agreed on the content of the memorandum,” Sivori said, adding that the foreign ministry had asked the Chinese government to sign the document virtually.