China's Citic Group has shown interest in investing in the recovery of degraded pastures in Brazil, as well as in the chemical, fertiliser and storage sectors. The information was released on 9 October in a statement by the Brazilian Ministry of Agriculture, following a meeting between Minister Carlos Fávaro and the Group's president, Hexin Zhu, among other Chinese representatives.

According to the statement, Fávaro presented the country's degraded pasture recovery programme, which aims to recover 40 million hectares of low productivity pasture to increase agricultural production and, at the same time, sequester carbon. Zhu found the initiative interesting and said that the company intends to move forward in its partnership with Brazil.

A subsidiary of the group has already been investing in the seed sector in the Ribeirão Preto (SP) region since 2017.

(Source: Globo)