Grain in China to Climb 10% in 2011, Boosting Seed Companies, Goldman Says
China’s grain prices will “rise steadily” at about 10 percent next year, benefiting the nation’s seed and fertilizer companies, according to Goldman Sachs Group Inc.
The brokerage initiated coverage of Gansu Dunhuang Seed Co. and Shandong Denghai Seeds Co. with “neutral” ratings and started coverage of Hefei Fengle Seed Co. and Yuan Longping High-tech Agriculture Co. with “sell” recommendations, according to a report by Jessie Pinglun Lai and Chris Shiu. They raised the ratings of Lianhe Chemical Technology Co. and Qinghai Salt Lake Potash Co. to “buy” from “neutral” and increased Lier Chemical Co., Qinghai Salt Lake Industry Group Co. and Shenzhen Noposion Agrochemicals Co. to “neutral” from “sell.”
Yunnan Yuntianhua Co. was lowered to “sell” from “neutral,” according to the report.
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