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2016-05-11

Sino Agro Food: Sino Agro Food Inc. Provides Preliminary  First Quarter 2016 Information

May 11, 2016

GUANGZHOU, China-- Sino Agro Food, Inc. (OTCQX: SIAF | OSE: SIAF-ME).

The Company filed today for an automatic 5-day extension for its first
quarter 2016 10-Q. Prior to the press release typically issued
concurrently with the 10-Q, the Company provides the following
preliminary summary information.

Year over year declines were evident for both revenue and gross profit
during the first quarter of 2016 as delineated in the sections below.
The ratio of decline in these metrics have become marginally less
though, when compared to sequential Q4 2015 numbers, with revenue
decreasing by 27 percent to approximately USD 72M (98M), and gross
profit by 11.7 percent to approximately USD 19M (21.4M).

Gross profit from Project Development declined by 53 percent to USD
3.6M (7.7M). In addition to the annual Chinese New Year holiday,
inclement weather and one-time factors resulted in a period of only
three weeks to perform contracted services throughout the first
quarter, contributing to the marked decline.

Without this sector shortfall, sequential quarterly total gross
profits would have increased by approximately USD 1.6M (or 7.5
percent).

The major factors underlying the year over year decline in revenue
from the sale of goods comprise a continuation of the factors
mentioned in the Company's FY 2015 10-K:

Aquaculture (CA and Tri-Way)

Although continued growth in sales volume to of approximately 1,900
metric tons of prawns and seafood in Q1 2016 compared favorably to
both Q1 2015 (1,380 MT) and the previous quarter (1,325 MT), an
increased share of fish with lower average sales price ("ASP")
explains the revenue decline. The change in sales mix was primarily
due to the short supply of eel elvers from last season.

Integrated Cattle (SJAP)

Due to the relaxation of trade restrictions on beef imports to China
from 11 exporting countries, the price for live weight domestic
cattle has fallen from RMB 32/Kg in mid-year 2015 to an average price
of RMB 25/Kg in the fourth quarter of 2015, and had bottomed at RMB
15/Kg during the first quarter of 2016. As a result, the Company
curtailed its sales of live cattle to 851 head in the first quarter
of 2016 (vs. 5,032 Q1 2015), and anticipates selling larger numbers
of cattle in the upcoming quarters, as prices rebound.

Reduced head of live cattle also impacted the sale of fertilizer and
livestock feed.

The Company continued to grow value added production to 2,177 MT in
the first quarter of 2016 (vs. 1,227 MT in Q1 2015); however, this
growth, which is intended to eclipse live cattle sales in the future,
was not sufficient to overcome the marked reduction in live cattle
sales this quarter.

Cattle Farm (MEIJI)

The average unit sale price per head of cattle decreased to USD 1,589
in the first quarter of 2016 (vs. USD 2,935 in Q1 2015). This was
primarily due to more sales of locally bred "Yellow Cattle" with a
lower average weight per cattle of 350 Kg / head compared to previous
beef cattle averaging over 600 Kg/, but sold at higher market price
per kg.

Seafood and Meat Trading

The decrease in revenue within the Corporate Trading sector was due to
lower imports of seafood from Madagascar after its government
introduced policies restricting its export of seafood in the second
half of 2015. Total import volume grew to 1,050 MT in the first
quarter of 2016 (vs. 790 MT in Q1, 2015). Record high beef import
volume was insufficient to outweigh the seafood shortfall because of
lower beef ASP.

Contact

Peter Grossman

Investor Relations

+1 (775) 901-0344

info@sinoagrofood.com

Erik Ahl

Nordic Countries

+46 (0) 760 495 885

erik.ahl@sinoagrofood.com

About Sino Agro Food, Inc.

SIAF develops and operates protein food businesses in the People's
Republic of China. The Company produces, distributes, markets, and
sells sustainable seafood and beef to the rapidly growing middle
class in China. Activities also include production of organic
fertilizer and produce. SIAF is a global leader in developing land
based recirculating aquaculture systems ("RAS"), and with its
partners is the world's largest producer of sustainable RAS prawns.

Founded in 2006 and headquartered in Guangzhou, the Company had over
550 employees and revenue of USD 429 million in 2015. Operations are
located in Guangdong, Qinghai, and Hunan provinces, and in Shanghai.
Sino Agro Food is a public company listed on OTCQX U.S. Premier in
the United States and on the Oslo Børs' Merkur Market in Norway.

News and updates about Sino Agro Food, Inc., including key
information, are published on the Company's website
(http://www.sinoagrofood.com), the Company's Facebook page
(https://www.facebook.com/SinoAgroFoodInc), and on twitter
@SinoAgroFood (https://twitter.com/SinoAgroFood).

Forward Looking Statements

This release may contain forward-looking statements relating to the
business of SIAF and its subsidiary companies. All statements other
than historical facts are forward-looking statements, which can be
identified by the use of forward-looking terminology such as
"believes," "expects" or similar expressions. These statements
involve risks and uncertainties that may cause actual results to
differ materially from those anticipated, believed, estimated or
expected. These risks and uncertainties are described in detail in
our filings with the Securities and Exchange Commission.
Forward-looking statements are based on SIAF's current expectations
and beliefs concerning future developments and their potential
effects on SIAF. There is no assurance that future developments
affecting SIAF will be those anticipated by SIAF. SIAF undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, except as required under applicable securities laws.

No Offer of Securities

None of the information featured in this press release constitutes an
offer or solicitation to purchase or to sell any securities of Sino
Agro Food, Inc.

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