If you’re looking for an under-the-radar agricultural stock, check out Dongfang Modern Agriculture Hldg Gp Ltd (ASX: DFM).
Dongfang shares are at a 52-week high today, up 1.6% to $1.24 – a rise from 80c per share at this time last year.
Dongfang has 19 plantations across China, with tangerines, mandarins, pomelos, oranges and camellia seeds on its list of crops to harvest.
Bigger name agricultural stocks such as Australian Agricultural Company Ltd (ASX: AAC) and Nufarm Limited (ASX: NUF) have managed to leverage off the “dining boom” of late, with smaller fry Select Harvests Limited (ASX: SHV) and Webster Limited Fully Paid Ord. Shrs (ASX: WBA) attempting to romance the global markets’ growing demand for plant-based food.
Is it Dongfang’s turn to shine in the sector?
The company is certainly starting to show some serious strength, with six consecutive record harvests, NPAT up 8.5% and more than 10,000 hectares of orchards in China’s premier fruit growing region.
Dongfang certainly seem well-adept at identifying and seizing opportunities for its expansion and its recently-released annual report looks pretty rosy.
One to watch if the long-term patience required for most agricultural stocks doesn’t faze you.
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