One of China’s leading fertiliser manufacturers and distributors has bought a 2300 hectare mixed farming enterprise, near Deniliquin, NSW, for just over $5 million.
The Xinyangfeng Fertilizer Company would continue to run Kenorwal, Bundaloo, as a mixed farming enterprise, under Australian management and supervision, according to Hellyer Consulting sales and marketing director Jason Hellyer.
He said Xinyangfeng could be using Kenorwal as a “test bed” for its products.
“This purchase may have something to do with having a look at Australian farming practices, to see what works and what doesn’t,” Mr Hellyer said. “They are in the process of setting up a distribution network with an Australian partner, this year; they’ve been working on that for the past 12 months.”
Kenorwal currently ran sheep, while cropping operations involved wheat, rice and lucerne.
Xinyangfeng Fertilizer Company Limited is a large-scale Chinese listed public company.
