Pioneer BusinessPioneer currently has two commercial joint venture companies in China: Shandong Denghai-PIONEER Seed Company. This is a joint venture with Denghai Seed Group formed in December 2002 with the goal of producing top-performing corn seed for Chinese farmers in the summer corn market (provinces of Shandong, Hebei, Henan, Shanxi, Shaanxi and Anhui ). The joint venture posted its first sale in 2004.
Pioneer established a Beijing Representative Office in 1997. A year later, we established a research center near Tieling City in the Liaoning province and began breeding and testing corn hybrids for commercialization in China.
Pioneer Hi-Bred International, Inc., has formed a second joint venture with one of China’s largest seed production companies, Dunhuang Seed Co. Ltd., to provide top-performing corn hybrids to Chinese farmers in the spring market.
Dunhuang Seed contributes extensive local field seed production experience. Pioneer’s strengths are in developing products that meet farmers’ needs, providing agronomic advice to its customers, and post-harvest seed conditioning expertise. With this unique combination of strengths, the JV is poised to offer Chinese farmers the highest quality seed and some strong new hybrid corn products for the spring corn market. The new joint venture, Dunhuang Seed Pioneer Hi-Bred Company Ltd., will develop and distribute high-yielding corn hybrids for the spring corn market in China. The joint venture plans to produce seed in 2007 for sale in 2008. This is a key long-term investment in a significant agricultural market. Dunhuang Seed Pioneer Hi-Bred Company Ltd., in accordance with Chinese law, is 49 percent owned by Pioneer, and 51 percent owned by Dunhuang Seed.
With 62.5 million acres, China is second only to the United States in the amount of land producing corn. Additionally, a rapidly growing population with rising incomes has resulted in an increased demand for agricultural products. More meat is consumed in China than in any other country, and 50 percent of the world’s hogs are in China, leading to a high grain demand for livestock feed.
Pioneer established a business representative office in Beijing in 1997. A year later, it began breeding and testing corn hybrids for commercialization in China for the summer and spring corn areas. The first Pioneer corn hybrids were approved for commercialization in 2002. Pioneer established a summer corn joint venture in China – Shandong Denghai Pioneer Seeds Co., Ltd. – in late 2002. The first commercial sales were in 2004 and the business has achieved solid growth since then.
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