Chinese spin billions from animal-feed business
Big rise in pork consumption boosts livestock fodder industry in the country
China's appetite for meat has made billionaires out of two of the country's largest animal-feed providers. Bao Hongxing, chief executive officer of the closely held Twins Group Co in Jiangxi province, China's fifth-largest animal-feed producer, has a $1.8 billion net worth, according to the Bloomberg Billionaires Index. Chen Yuxin, founder of closely held Sichuan Tequ Investment Co, Sichuan province's biggest animal feedmaker, has a fortune valued at more than $1 billion.
The two tycoons are benefiting from growing demand for healthier livestock as the world's most populous nation prods farmers to provide higher-quality pork, chicken and beef. The country is also seeking to reduce its dependence on cheaper, low-protein staples such as rice, corn and soybeans.
