According to the Department of Science and Technology of Shandong Province, with the official launch of the 36,000-ton-per-year water-injected glucose project independently developed by Yikang Group after National Day, Shandong’s "corn chemical" base now has a corn processing capacity exceeding 1 million tons annually, accounting for 60% of the city's total corn production. Over 2.4 million farmers in the region are expected to transition gradually into specialized roles within the "corn chemical" industry.
Binzhou City is recognized as the core production hub for "corn chemical" products in Shandong. Leading companies like Xiwang Group and Yikang Group, both specializing in corn-based chemical manufacturing, are concentrated here. Xiwang Group is currently the largest domestic producer of maltodextrin, crystalline glucose, and lysine, with annual outputs of 100,000 tons, 300,000 tons, and 80,000 tons respectively. It also produces 100,000 tons of high-protein feed annually. With corn priced at around 1,400 yuan per ton, the market price of lysine reaches 24,000 yuan per ton, showcasing the high value added from corn processing.
Yikang Group and other firms use cornstarch as a raw material, integrating foreign advanced technologies with independent R&D to extend their industrial chain toward higher-value products. One such product is anhydrous glucose injection, which is currently in high demand internationally, with 80% of its output exported. The profit margin for this product reaches up to 35%. From January to August this year, Yikang Group saw sales revenue, profits, and taxes increase by 3.8 times, 36.8 times, and 137.8 times compared to the same period last year, respectively. The company produces 36,000 tons of anhydrous raw medicine glucose annually, accounting for 70% of the national output, and exports its products to 17 countries and regions.
With a population of 3.65 million, Binzhou has a large agricultural workforce. Under Shandong Province’s "Eleventh Five-Year Plan," the city aims to process 2 million tons of corn annually through its "Corn Chemicals" initiative. The "company + base + farmer" model will be implemented, where the company provides improved seeds and fertilizers, agricultural experts offer technical support, and farmland becomes the first stage of production. Farmers will manage corn planting and fieldwork, while the company handles mechanized harvesting. This approach is expected to transform 2.4 million farmers into workers in the "corn chemical" industry, marking a significant shift in rural employment and economic development.
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