Chinese eCommerce giant strikes $300 million deal for Montana beef
JD.com, a Chinese eCommerce company, has signed a $300 million agreement with the Montana Stockgrowers Association. Under the terms of the agreement, ranchers will supply $200 million of Montana beef to the company from January 2018 through 2020, reports the Billings Gazette. The Remaining $100 million is meant to be used for the construction of a new slaughterhouse.
The agreement was signed in October but was timed to be announced during president Trump’s visit to Asia this week.
"We have the land, we have the cattle, we have the quality, we have the water," said Montana rancher Fred Wacker said. "We have the interest in putting in a major processing plant here, and we also have a very high-quality product."
Source: Billings Gazette