China-based agricultural conglomerate Yasheng Group and Inner Mongolia Meng Yuan Agriculture Company are partnering to create an industrial hemp plantation in Mongolia to produce hemp products for both the domestic and foreign markets. Yasheng Group is one of China’s biggest producers and marketers of field crops, vegetables, fruit, specialty crops, seeds, and poultry with total assets worth over $2 billion. Yasheng will provide the seeds and seedlings, planting techniques, and fertilizer for the project and Meng Yuan will provide the dairy management of the growing of the crops. Hemp has been grown in Northwest China to produce clothing for export to the EU and Japan and in recent years demand has risen for hemp seed because of its popularity in the health food sector. The project will be located on 110,000 acres in Mongolia with 30,000 acres expected to be planted in the first three years.
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