Chinese buyer spends millions on Australian cattle farms
17/07/2015
Xingfa Ma, who owns ballbearing group Tianma, purchased the Wollogorang and Wentworth stations as well as 40,000 head of cattle.
The news comes in the week that Indonesia slashed its cattle quota from the country by 80% to 50,000 for the third quarter in a bid to encourage self-sufficiency. The move is a blow for Northern Territory ranchers who rely on trade with the Asian country.
However, Australian agriculture minister Barnaby Joyce has suggested that the reduction is temporary, and that exports will rise again in the following months.
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