SEOUL, May 12 (Reuters) - Global commodities trader Cargill Inc said on Friday it plans to increase its animal feed production in South Korea by 2025 in a bid to play a leading role in South Korean market.
Under the expansion plan, Cargill Agri Purina, a South Korean unit of Cargill, will ramp up its total animal feed output capacity to 2.7 million tonnes per year (tpy) by 2025, from 1.6 million tpy, the company said in a statement.
“The company will build on its position as one of the leading players in the Korean livestock market and aims to double its market presence by 2025,” it said.
Cargill Agri Purina operates four plants in South Korea, processing corn, wheat and soybean meal to produce animal feeds, mainly for the South Korean market.
Reporting By Jane Chung; Editing by Sonali Paul