China Xiangtai Food Company brings in $7.2 million from soybean meal sales

China Xiangtai Food Co Ltd (NASDAQ:PLIN) President Johnny Wu tells Proactive the group’s subsidiary Chongqing Ji Mao Cang Feed Company Limited (JMC) completed business worth 49 million Chinese renminbi (US$7.2 million) in sales of soybean meal over three months.

Wu says the food processing company’s soybean sales were boosted by around 18,000 tons of supply it procured from the China Grain Reserve Corporation’s (Sinograin) Zhenjiang branch office.