(Nov 8) – The Montana Stockgrowers Association (MSGA), Cross Four Ranch, and Chinese eCommerce retailer JD.com, today, signed a memorandum of agreement (MOA) to facilitate collaboration on Montana sourced beef to China as well as the potential investment in Montana.
This agreement transpired following Daines’ agricultural roundtable where Chinese Ambassador Cui Tiankai, Chinese business representatives, and Montana agricultural leaders discussed potential opportunities for expanding Montana beef exports.
“While there are details to be finalized, this MOA represents a great step in the right direction for Montana ranchers and the state of Montana,” said Errol Rice, Executive Vice President of MSGA. “The Montana Stockgrowers Association thanks, Sen. Daines for his work on expanding opportunities and access to overseas markets for Montana ranchers, particularly in lifting the ban on U.S. beef in China earlier this year. ”
The agreement is proposed for an initial three years, with a minimum commitment of $200 million in Montana beef to be imported by JD.com from MSGA members. Beef is the fastest growing sector in China and the world’s fastest growing overseas market for beef.
In addition to the $200 million proposed procurement, JD intends to invest up to another $100 million to build a brand-new processing facility in Montana to support Montana beef production.
Click HERE to read the official signing agreement. For additional information, please contact the MSGA office at 406-442-3420.