Establish special funds for seed enterprises

Some listed seed companies have started the distribution of seeds earlier for the marketing year of 2012/2013. For example, Shandong Denghai and Hefei Fengle have received increasing advance from customers in Q3 2012, which would be conducive to their performance rebound in the end of 2012.

Shandong Denghai started the corn seed distribution in Sept. with more promotions for its distributors. Thanks to the good performance in field planting, "Denghai 605", a leading corn hybrid bred by Shandong Denghai, has seen a price increase of seeds, probably to create handsome profits for the company. However, the annual performance of Shandong Denghai would be not so optimistic in 2012, mainly in view of the declining profits of "Xianyu 335" promoted by its joint venture with Pioneer Hi-Bred International Inc.

According to Jiangsu Provincial Agriculture Committee, the provincial government of Jiangsu will annually set up USD12.70 million (RMB80 million) of special funds for five consecutive years since 2012 to support local seed enterprises with good growth.

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