Origin Agritech Ltd. announced that the company has received an order for its hybrid corn worth RMB 240 million, or roughly $35 million, from Muyuan Foods. Muyuan Foods is a publicly traded company on the Shenzhen Stock Exchange, with a $50 billion market capitalization, it is China's largest hog farming company. Muyuan purchases over 50 million metric tons of corn feedstock annually.

The initial order is part of a 100 million metric ton purchase agreement signed for next 5 years. The companies have agreed in principle to collaborate to contract grow Origin's Nutritionally Enhanced Corn (NEC) beginning in the 2023 growing season. At present, Muyuan is contract growing about 3 million mu, or roughly 494,000 acres of farmland to plant hybrid corn and other feed crops in China.