Liu Yonghao, who started out selling pig feed and later became one of the mainland's richest, sees recent pork price hikes as a call to go back to his old business.
The price of pork is now 60 percent higher from the same time last year, according to official figures. The price rises since last May have been mainly attributed to a decrease in supply and rising feed costs.
But Liu thinks there is a fundamental cause behind the price hike. "Individual farming households are quickly quitting pig raising but large producers haven't stepped in to fill the breach, hence supply cannot meet demand," says the 56 year-old who started his business as a street vendor in the 1980s.
"As the largest consumer and producer of agricultural products, China needs a bunch of large agricultural companies," said Liu.
His company, New Hope Group, whose interests range from high-tech to chemicals, is on the way to become one of the first and biggest such giants.
From 2005, through a series of mergers and acquisitions, Liu - a Sichuan native - now controls nearly 10 leading agricultural companies in various regions, including Kinghey, the pork supplier for the Beijing Olympic Games.
Liu is trying to build the whole supply chain of agricultural products from animal feed and pig and poultry raising to meat processing.
Liu and his three brothers were among the earliest and most famous private entrepreneurs back in the 1980s. After raising chicken and quail, they turned to making pig feed as pork production boomed.
The Liu brothers then became the largest animal feed makers in the country, with a market share of nearly 10 percent at the peak.
Questions:
1. How much has the price of pork risen compared to the same time last year?
2. What are the two reasons given in the story for the price rises?
3. What is the name of Mr Liu’s company?
4. What is his vision for the company’s future?
Answers:
1.Now 60 percent higher.
2.A decrease in supply and rising feed costs
3.New Hope Group.
4.To build the whole supply chain of agricultural products from animal feed and pig and poultry raising to meat processing.
（英語點津 Celene 編輯）
About the broadcaster:
Brendan joined The China Daily in 2007 as a language polisher in the Language Tips Department, where he writes a regular column for Chinese English Language learners, reads audio news for listeners and anchors the weekly video news in addition to assisting with on location stories. Elsewhere he writes Op’Ed pieces with a China focus that feature in the Daily’s Website opinion section.
He received his B.A. and Post Grad Dip from Curtin University in 1997 and his Masters in Community Development and Management from Charles Darwin University in 2003. He has taught in Japan, England, Australia and most recently China. His articles have featured in the Bangkok Post, The Taipei Times, The Asia News Network and in-flight magazines.
