UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

     [X]      QUARTERLY  REPORT  UNDER  SECTION  13  OR  15(d) OF THE SECURITIES
              EXCHANGE  ACT  OF  1934

              For  the  Quarterly  Period  Ended  March  31,  2001

     [ ]      TRANSITION  REPORT  UNDER  SECTION  13 OR 15(d) OF  THE SECURITIES
              EXCHANGE  ACT  OF  1934

              For  the  transition  period  from  _________  to  _________

                         Commission File Number: 0-25963

                               AGROCAN CORPORATION
        ----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

               Delaware
     -------------------------------              ----------------------
    (State or other jurisdiction of               (I.R.S.  Employer
     incorporation or organization)               Identification Number)

             CLI Building, 313 Hennessy Road, Suite 1003, Hong Kong
             ------------------------------------------------------
                  (Address  of  principal  executive  offices)

                                011-852-2519-3933
                           --------------------------
                           (Issuer's telephone number)

                                 Not applicable
               ---------------------------------------------------
    (Former name, former address and former fiscal year, if changed since last
                                    report.)

Check  whether  the issuer (1) filed all reports required to be filed by Section
13  or  15(d) of the Exchange Act during the past 12 months (or for such shorter
period  that the registrant was required to file such reports), and (2) has been
subject  to  such  filing  requirements  for  the  past  90 days. Yes [X] No [ ]
As  of  March  31, 2001, the Company had 2,334,970 shares of common stock issued
and  outstanding.
Transitional  Small  Business  Disclosure  Format:  Yes  [ ]  No  [X]
Documents  incorporated  by  reference:  None.


<PAGE>
                              AGROCAN  CORPORATION

                                      INDEX


PART  I.   FINANCIAL  INFORMATION

     Item  1.  Financial  Statements

          Consolidated Balance Sheets (Unaudited) - March 31, 2001 and September
          30,  2000

          Consolidated Statements of  Operations and Comprehensive Income (Loss)
          (Unaudited) -  Three  Months  and  Six  Months  Ended  March  31, 2001
          and  2000

          Consolidated  Statements  of Cash Flows (Unaudited) - Six Months Ended
          March  31,  2001  and  2000

          Notes  to  Consolidated  Financial Statements (Unaudited) - Six Months
          Ended  March  31,  2001  and  2000

     Item  2.  Management's  Discussion  and  Analysis  or  Plan  of  Operation


PART  II.  OTHER  INFORMATION

     Item  2.  Changes  in  Securities  and  Use  of  Proceeds

     Item  6.  Exhibits  and  Reports  on  Form  8-K


SIGNATURES


<PAGE>
<TABLE>
<CAPTION>
                                    AGROCAN CORPORATION
                          CONSOLIDATED BALANCE SHEETS (UNAUDITED)

                                             MARCH 31,         SEPTEMBER 30,
                                        2001          2001          2000
                                        USD           RMB           RMB
                                   -----------------------------------------
<S>                                  <C>         <C>            <C>
ASSETS
CURRENT ASSETS
  Cash and cash equivalents          $  477,115      3,960,054     4,616,686
  Accounts receivable                 4,743,537     39,371,357    38,030,840
  Other receivables and prepayments     594,529      4,934,592       480,688
  Inventories                           459,686      3,815,389     2,787,401
  Deposit                                57,591        478,009       434,521
  Amount due from related parties       359,248      2,981,759     3,748,850
                                   -----------------------------------------

  TOTAL CURRENT ASSETS                6,691,707     55,541,160    50,098,986

PROPERTY, PLANT AND EQUIPMENT - NET     802,199      6,658,253     6,297,254
DEFERRED COSTS                            6,892         57,200       359,507
                                   -----------------------------------------

  TOTAL ASSETS                       $7,500,797     62,256,613    56,755,747
                                   =========================================
</TABLE>

<TABLE>
<CAPTION>
                                    AGROCAN CORPORATION
                    CONSOLIDATED BALANCE SHEETS (UNAUDITED) (CONTINUED)

LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
<S>                                                 <C>         <C>         <C>
  Short-term bank loans                             $  240,964   2,000,000           -
  Short-term loans-unsecured                           418,098   3,470,212   3,980,212
  Accounts payable                                   2,700,160  22,411,328  21,159,642
  Other payables and accruals                          591,893   4,912,708   1,409,816
  Notes payable                                         49,880     414,000           -
  Income tax payable                                    80,499     668,139     847,324
  Deposit received                                      81,051     672,732   1,481,629
  Amount due to related parties                        502,038   4,166,917   3,663,101
                                                    ----------  ----------  ----------

  TOTAL CURENT LIABILITIES                           4,664,582  38,716,036  32,541,724

MINORITY INTEREST                                      132,519   1,099,909   1,129,531

SHAREHOLDERS' EQUITY
  Preferred stock, par value US$0.0001 per share,
          authorized 10,000,000 shares;
          none issued
  Common stock, par value US$0.0001 per share,
          authorized 25,000,000 shares; issued and
          outstanding 2,334,970 shares at
          March 31, 2001                                   233       1,934       1,934
  Capital in excess of par value                     1,358,385  11,274,599  11,274,599
  Retained earnings
          Unappropriated                             1,286,853  10,680,881  11,324,705
          Appropriated                                  56,049     465,204     465,204
  Other comprehensive income                             2,175      18,050      18,050

  TOTAL SHAREHOLDERS' EQUITY                         2,703,695  22,440,668  23,084,492
                                                    ----------  ----------  ----------

  TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY        $7,500,796  62,256,614  56,755,747
                                                    ==========  ==========  ==========
</TABLE>

See  notes  to  consolidated  financial  statements.


<PAGE>
<TABLE>
<CAPTION>
                                         AGROCAN CORPORATION
                                             CONSOLIDATED
                               STATEMENTS OF CASH FLOWS (UNAUDITED)

                                                                   SIX MONTHS ENDED MARCH 31,
                                                                 2001        2001         2000
                                                           --------------------------------------
                                                                 USD         RMB          RMB
<S>                                                        <C>            <C>           <C>
OPERATING ACTIVITIES
Net Income                                                 $   (77,569)    (643,824)     702,717
Adjustments to reconcile net income (loss) to net cash
provided by (used in) operating activities:
  Amortization of deferred costs                                36,423      302,307      357,229
  Depreciation                                                  35,962      298,490      221,135
  Minority interest                                             (3,569)     (29,622)    (128,808)
  (Increase) decrease in account receivable                   (161,508)  (1,340,517)  (9,135,490)
  (Increase) decrease in other receivables and deposits       (541,854)  (4,497,392)    (956,366)
  (Increase) decrease in inventories                          (123,854)  (1,027,988)  (4,867,977)
  (Increase) decrease in amounts due from related parties       92,421      767,091      641,206
  Increase (decrease) in accounts payable                      150,806    1,251,686      678,162
  Increase (decrease) in income tax payable                    (21,589)    (179,185)           -
  Increase (decrease) in other payables and accruals           422,035    3,502,892      699,480
  Increase (decrease) in deposits received                     (97,458)    (808,897)           -
  Increase (decrease) in advances from customers                     -            -    9,399,040
  Increase (decrease) in amounts due to related parties         60,701      503,816    1,371,594
                                                           --------------------------------------
  Net cash (used in) provided by operating activities         (229,055)  (1,901,143)  (1,018,078)
                                                           --------------------------------------

INVESTING ACTIVITIES
  Additions to property, plant and equipment                   (79,457)    (659,489)    (181,172)
                                                           --------------------------------------
  Net cash used in investing activities                        (79,457)    (659,489)    (181,172)
                                                           --------------------------------------

FINANCING ACTIVITIES
  Repayment of short term bank loan                                  -            -     (700,000)
  Repayment of short term loans - unsecured                    (61,446)    (510,000)           -
  Increase in note payable                                      49,880      414,000            -
  Proceeds from issurance of common stock                            -            -       20,750
  Proceeds from short term bank loan                           240,964    2,000,000      780,000
                                                           --------------------------------------
  Net cash provided by financing activities                    229,398    1,904,000      100,750
                                                           --------------------------------------

Net (decrease) increase in cash and cash equivalents           (79,113)    (656,632)  (1,098,500)
Cash and cash equivalents, beginning                           556,227    4,616,686    5,027,798
Effect of exchange rate changes on cash                              -            -          178
                                                           --------------------------------------

Cash and cash equivalents, ending                          $   477,114    3,960,054    3,929,476
                                                           ======================================
</TABLE>

See  notes  to  consolidated  financial  statements.


<PAGE>
<TABLE>
<CAPTION>
                                    AGROCAN CORPORATION
                         CONSOLIDATED STATEMENTS OF OPERATIONS AND
                          COMPREHENSIVE INCOME (LOSS) (UNAUDITED)


                                                Three  Months  Ended  March  31,
                                               ----------------------------------
                                                 2001        2001        2000
                                               ----------------------------------
                                                 USD         RMB         RMB
<S>                                            <C>        <C>         <C>
NET SALES                                      $530,953   4,406,913   14,008,110

COST OF SALES                                   409,977   3,402,809   11,163,154
                                               ----------------------------------

GROSS PROFIT                                    120,976   1,004,104    2,844,956

ADMINSTRATIVE AND GENERAL EXPENSES               97,555     809,707    2,258,888

SELLING EXPENSES                                 27,176     225,560      540,496
                                               ----------------------------------

INCOME (LOSS) FROM OPERATIONS                    (3,755)    (31,163)      45,572

OTHER INCOME (EXPENSE)
    Interest income                               4,224      35,058       10,463
    Interest expense                             (2,544)    (31,740)           -
    Commission income                                 -           -      251,100
    Amortization of loan fees                   (18,211)   (151,153)    (154,072)
                                               ----------------------------------

INCOME (LOSS) BEFORE INCOME TAXES               (20,286)   (168,372)     153,063

INCOME TAXES                                      6,856      56,903      123,636
                                               ----------------------------------

INCOME (LOSS) BEFORE MINORITY INTEREST          (27,142)   (225,275)      29,427

MINORITY INTEREST                                   849       7,040       49,439
                                               ----------------------------------

NET INCOME (LOSS)                              $(26,293)   (218,235)      78,866
                                               ==================================

OTHER COMPREHENSIVE INCOME (LOSS)
    Foreign currency translation adjustments          -           -        2,162

COMPREHENSIVE INCOME (LOSS)                     (26,293)   (218,235)      81,028
                                               ==================================
</TABLE>

<TABLE>
<CAPTION>
                                    AGROCAN CORPORATION
                         CONSOLIDATED STATEMENTS OF OPERATIONS AND
                    COMPREHENSIVE INCOME (LOSS) (UNAUDITED) (CONTINUED)


<S>                                           <C>          <C>         <C>
WEIGHTED AVERAGE SHARES OUTSTANDING
  Basic                                        2,334,970   2,334,970   2,188,944
  Diluted                                      2,334,970   2,334,970   2,505,659

BASIC EARNINGS (LOSS) PER SHARE               $    (0.01)      (0.09)       0.04
                                              -----------  ----------  ---------

DILUTED EARNINGS (LOSS) PER SHARE             $    (0.01)      (0.09)       0.03
                                              -----------  ----------  ---------
</TABLE>

See  notes  to  consolidated  financial  statements.


<PAGE>
<TABLE>
<CAPTION>
                                    AGROCAN CORPORATION
                         CONSOLIDATED STATEMENTS OF OPERATIONS AND
                          COMPREHENSIVE INCOME (LOSS) (UNAUDITED)
                         SIX MONTHS ENDED MARCH 31, 2001 AND 2000



                                               2001        2001        2000
                                             ----------------------------------
                                               USD         RMB          RMB
<S>                                          <C>        <C>         <C>
NET SALES                                    $795,909   6,606,045   24,600,910

COST OF SALES                                 608,894   5,053,818   19,968,717
                                             ----------------------------------

GROSS PROFIT                                  187,015   1,552,227    4,632,193

ADMINSTRATIVE AND GENERAL EXPENSES            192,334   1,596,375    3,304,411

SELLING EXPENSES                               29,576     245,481      600,996
                                             ----------------------------------

INCOME (LOSS) FROM OPERATIONS                 (34,895)   (289,629)     726,786

OTHER INCOME (EXPENSE)
  Interest income                               2,944      35,058       29,023
  Interest expense                             (2,544)    (31,740)           -
  Commission income                                 -           -      251,100
  Amortization of loan fees                   (36,423)   (302,306)    (308,143)
                                             ----------------------------------

INCOME (LOSS) BEFORE INCOME TAXES             (70,918)   (588,617)     698,766

INCOME TAXES                                   10,220      84,829      124,857
                                             ----------------------------------

INCOME (LOSS) BEFORE MINORITY INTEREST        (81,139)   (673,446)     573,909

MINORITY INTEREST                               3,569      29,622      128,808
                                             ----------------------------------

NET INCOME (LOSS)                            $(77,570)   (643,824)     702,717
                                             ==================================

OTHER COMPREHENSIVE INCOME (LOSS)
  Foreign currency translation adjustments          -           -          178

COMPREHENSIVE INCOME (LOSS)                   (77,570)   (643,824)     702,895
                                             ==================================
</TABLE>

<TABLE>
<CAPTION>
                                    AGROCAN CORPORATION
                         CONSOLIDATED STATEMENTS OF OPERATIONS AND
                    COMPREHENSIVE INCOME (LOSS) (UNAUDITED) (CONTINUED)
                         SIX MONTHS ENDED MARCH 31, 2001 AND 2000


<S>                                  <C>          <C>         <C>
WEIGHTED AVERAGE SHARES OUTSTANDING
  Basic                               2,334,970   2,334,970   2,180,023
  Diluted                             2,334,970   2,334,970   2,496,738

BASIC EARNINGS (LOSS) PER SHARE      $    (0.03)      (0.28)       0.32
                                     -----------  ----------  ---------

DILUTED EARNINGS (LOSS) PER SHARE    $    (0.03)      (0.28)       0.28
                                     -----------  ----------  ---------
</TABLE>

See  notes  to  consolidated  financial  statements.


<PAGE>
AGROCAN  CORPORATION
NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS
SIX  MONTHS  ENDED  MARCH  31,  2001  AND  2000
(UNAUDITED)
(EXPRESSED  IN  RENMINBI)

1.   THE  INTERIM  FINANCIAL  STATEMENTS

     The  interim financial statements have been prepared by AgroCan Corporation
     and  in  the  opinion of management, reflect all material adjustments which
     are  necessary  to  a  fair  statement  of  results for the interim periods
     presented,  including normal recurring adjustments. Certain information and
     footnote  disclosures  made  in the most recent annual financial statements
     included  in  the  Company's  Form  10-KSB for the year ended September 30,
     2000,  have been condensed or omitted for the interim statements. It is the
     Company's opinion that, when the interim statements are read in conjunction
     with  the  September  30,  2000  financial  statements, the disclosures are
     adequate  to  make the information presented not misleading. The results of
     operations  for  the  six  months  ended  March  31,  2001 and 2000 are not
     necessarily  indicative  of the operating results for the full fiscal year.


     The  preparation  of  financial  statements  in  conformity  with generally
     accepted  accounting  principles  requires management to make estimates and
     assumptions  that affect the reported amounts of assets and liabilities and
     disclosure  of  contingent  assets  and  liabilities  at  the  date  of the
     financial  statements  and  the  amount of revenues and expenses during the
     reporting  periods.  Management  makes  these  estimates  using  the  best
     information  available  at the time the estimates are made; however, actual
     results  could  differ  materially  from  those  results.


2.   INVENTORIES

     Inventories  at  March 31, 2001 and September 30, 2000 are comprised of the
following:

<TABLE>
<CAPTION>
                         MARCH 31, 2001             SEPTEMBER 30, 2000
<S>                <C>              <C>             <C>
                      USD              RMB                  RMB
RAW MATERIALS      $319,203         2,649,390            2,238,353
FINISHED GOODS      140,483         1,165,999              549,048
                   --------         ---------            ---------
                   $459,686         3,815,389            2,787,401
                   ========         ==========           =========
</TABLE>

3.   SHORT-TERM  BANK  LOANS

During  the  six  months ended March 31, 2001, two of the Company's subsidiaries
arranged a short-term bank loan of RMB 1,000,000 each to fund operations. One of
the  loans  bears interest at 7.254% and is due on June 12, 2001. The other loan
bears  interest  at  5.58%  and  is  due  on  September  15,  2001.


<PAGE>
4.   INCOME  TAXES:

     During  the  six  months  ended  March 31, 2001, the Company's subsidiaries
     incurred income taxes of RMB 84,829. The Company is subject to income taxes
     on  an  entity  basis  on  income  arising  in  or  derived  from  the  tax
     jurisdiction  in  which  each  entity  is  domiciled. The Company's British
     Virgin  Islands subsidiary is not liable for income taxes. As manufacturing
     companies,  the  Company's PRC subsidiaries operate in special zones, which
     entitles  them  to  a  reduced  national  income taxes rate of 24%, and the
     subsidiaries  are  exempt  from  local income tax. Further, pursuant to the
     approval  of  the  relevant PRC tax authorities, the subsidiaries are fully
     exempted from PRC income taxes for two years starting from the date profits
     are first recognized, followed by a 50% exemption for the next three years.


5.   EARNINGS  PER  SHARE:

     Basic  earnings per share is based on the weighted average shares of common
     stock  outstanding.  Diluted  earnings  per  share  assumes the conversion,
     exercise  or  issuance  of  all  potential common stock instruments such as
     options,  warrants  and  convertible  securities,  unless  the effect is to
     reduce  loss  per  share  or  increase  earnings  per  share.


<PAGE>
ITEM  2.  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OR  PLAN  OF  OPERATION

Cautionary  Statement  Pursuant  to  Safe  Harbor  Provisions  of  the  Private
Securities  Litigation  Reform  Act  of  1995:

This  Quarterly  Report  on Form 10-QSB for the quarterly period ended March 31,
2001  contains  "forward-looking"  statements  within the meaning of the Federal
securities  laws.  These  forward-looking  statements  include,  among  others,
statements  concerning  the Company's expectations regarding sales trends, gross
and  net  operating  margin  trends,  political  and  economic  matters,  the
availability  of  equity capital to fund the Company's capital requirements, and
other  statements  of  expectations,  beliefs,  future  plans  and  strategies,
anticipated  events  or  trends, and similar expressions concerning matters that
are  not  historical  facts.  The  forward-looking  statements in this Quarterly
Report  on Form 10-QSB for the quarterly period ended March 31, 2001 are subject
to  risks and uncertainties that could cause actual results to differ materially
from  those  results expressed in or implied by the statements contained herein.

Overview:

AgroCan  Corporation (the "Company") was incorporated on December 8, 1997 in the
State  of  Delaware.  Effective  December 31, 1997, the Company issued 1,598,646
shares  of  common stock, which represented all of the capital stock outstanding
at  the  completion  of this transaction, to the shareholders of AgroCan (China)
Inc.,  a corporation incorporated in the British Virgin Islands, in exchange for
all  of  the  capital  stock  of  AgroCan  (China) Inc. As of December 31, 1997,
AgroCan  (China) Inc. owned interests in three subsidiaries or joint ventures as
follows: Jiangxi Jiali Chemical Industry Company Limited (100%), Jiangxi Fenglin
Chemical  Industry  Company Limited (70%), and Guangxi Linmao Fertilizer Company
Limited  (100%),  all  of  which  were located in the People's Republic of China
("China"  or  the  "PRC").  Prior  to  this  transaction,  the  Company  had  no
significant operations. This transaction was accounted for as a recapitalization
of  AgroCan  (China)  Inc., as the shareholders of AgroCan (China) Inc. acquired
all  of  the capital stock of the Company in a reverse acquisition. Accordingly,
the  assets  and  liabilities  of  AgroCan  (China)  Inc.  have been recorded at
historical  cost, and the shares of common stock issued by the Company have been
reflected  in the consolidated financial statements giving retroactive effect as
if  the  Company  had  been  the  parent  company from inception. The historical
consolidated  financial  statements consist of the combined financial statements
of  AgroCan (China) Inc. and its subsidiaries from the dates of their respective
formation  or  acquisition  for  all  periods presented. All share and per share
amounts  presented  herein  have  been adjusted to reflect the two for one stock
split  effective  February  6,  1998.

AgroCan  (China)  Inc.  was  established  in  1996  to develop, produce and sell
fertilizers  and  other  products  and  technologies to enhance the agricultural
output  of  China.  The Company produces various compound fertilizers, which are
the  end product made from the combination of three primary nutrients, nitrogen,
phosphate  and potassium, mixed together with other elements such as iron, zinc,
copper and manganese. These ingredients are blended in different proportions and
packed  into  50-kilogram bags. The Company designs its compound fertilizers for
specific


<PAGE>
climate,  soil and crop requirements of each individual geographic market. As of
March  31,  2001,  the  Company had established an annual production capacity of
125,000  metric tons for compound fertilizers in Guangxi and Jiangxi, two of the
largest  agricultural  provinces  in  China,  and  the  Company intends to enter
markets  in  other  provinces  in  China.

Effective  October  8,  1996,  AgroCan (China) Inc. entered into a joint venture
agreement  with Nanchang Organic Fertilizer Factory, a state-owned enterprise in
the  PRC,  for the establishment of a Sino-Foreign Equity Joint Venture, Jiangxi
Fenglin  Chemical  Industry Company Limited ("Jiangxi Fenglin"). In exchange for
capital  contributions  to  Jiangxi  Fenglin  aggregating  RMB 2,090,642 through
September  30,  1998, AgroCan (China) Inc. received a 70% equity interest in the
joint  venture.  Jiangxi  Fenglin commenced operations on November 28, 1996, and
became  fully  operational  during the fiscal year ended September 30, 1998. The
Company  accounts  for  its  interest  in  the  joint  venture  similar  to  a
majority-owned  subsidiary  because of its 70% interest, its contractual ability
to  appoint  four  out  of six directors to the Board of Directors, which is the
highest  authority for the joint venture, and the Company's right to appoint the
Chairman  of  the  Board. The Company recognizes that joint venture interests in
the  PRC are generally not consolidated in the financial statements of companies
that  report  under  the  periodic  reporting  requirements of the United States
Securities and Exchange Commission due to the rights asserted by the PRC partner
under  customary joint venture agreements. However, in view of the above factors
specific  to  the  Company,  management  believes  that  it  is  appropriate  to
consolidate  the  joint  venture's  operations  into  the Company's consolidated
financial  statements.

AgroCan  (China)  Inc. also owns 100% of Jiangxi Jiali Chemical Industry Company
Limited  ("Jiangxi  Jiali").

The consolidated financial statements of the Company include the accounts of the
Company  and  its  wholly-owned  and  majority-owned  subsidiaries. All material
intercompany  balances  and  transactions  are  eliminated at consolidation. The
consolidated  financial  statements  have  been  prepared  in  accordance  with
generally  accepted  accounting  principles  in  the United States and have been
presented  in Chinese Renminbi ("RMB"). The functional currency of the Company's
PRC  operations  is  the RMB. The accounts of foreign operations are prepared in
their  local  currency  and are translated into RMB using the applicable rate of
exchange.  The  resulting  transaction adjustments are included in comprehensive
income  (loss).  Transactions  denominated  in currencies other than the RMB are
translated  into  RMB  at  the  applicable  exchange  rates. Monetary assets and
liabilities  denominated  in  other  currencies  are  translated into RMB at the
applicable  rate  of  exchange at the balance sheet date. The resulting exchange
gains  or  losses  are  credited  or  charged  to the consolidated statements of
operations.


<PAGE>
Consolidated  Results  of  Operations:

Three  Months  Ended  March  31,  2001  and  2000:

Sales.     The  sales  for  the  three  months  ended  March  31,  2001 were RMB
4,406,913  as  compared  to  sales  of RMB 14,008,110 for the three months ended
March  31,  2000, a decrease of RMB 9,601,197 or 68.5%. The decrease in sales in
2001  as  compared  to  2000  was due to the delay in the planting schedule as a
result  of the unstable weather and as a result of the Chinese New Year holidays
occurring  earlier than usual. The planting season did not start until February.
compared  to  previous  years, which had relatively stable and good weather, the
2001  planting  season  was delayed by one to two months. However, the sales and
production levels have been increased since mid-February and management believes
that  sales  for  the year ended September 30, 2001 will meet prior year levels.

Gross Profit.     Gross profit for the three months ended March 31, 2001 was RMB
1,004,104 or 22.78% of sales, as compared to RMB 2,844,956 or 20.31% of revenues
for  the three months ended March 31, 2000. The gross profit margin increased in
2001  as compared to 2000 as a result of the Company raising its prices to focus
on higher-margin customers, although total gross profit decreased as a result of
the  decline  in  revenue.

Administrative and General Expenses.     Administrative and general expenses for
the  three months ended March 31, 2001 were RMB 809,707 or 18.4%, as compared to
RMB  2,258,888 or 16.13% of revenue for the three months ended March 31, 2000, a
decrease  of RMB 1,449,181. In view of the reduced level of sales and production
during  the  quarter  ended  March  31,  2000,  management  was  able  to reduce
administrative  and  general  expenses, primarily in discretionary wages, travel
and  office  expenses.

Selling Expenses.     Selling expenses for the three months ended March 31, 2001
were  RMB  225,560  or  5%  of  revenues,  as compared to RMB 540,496 or 3.9% of
revenues  for  the three months ended March 31, 2000, a decrease of RMB 314,936.
Selling  expenses  decreased  in  2001  as  compared  to  2000  as a result of a
reduction  in  sales  arising because of the Chinese New Year holidays occurring
earlier  than  usual,  and  also  as a result of the bad weather and the ensuing
delay  in  the  planting season.

Income  from  Operations.     Loss  from operations was RMB 31,163 for the three
months  ended  March  31,  2001, as compared to an income from operations of RMB
45,572  for  the  three  months  ended  March  31,  2000.

Other  Income  (Expense).     The  Company recorded amortization of loan fees of
RMB  151,153 and RMB 154,072 for the three months ended March 31, 2001 and 2000,
respectively.

Interest Expense. Interest expense for the three months ended March 31, 2001 was
RMB  21,114  or  0.5% of revenues. The company, through one of its subsidiaries,
borrowed  RMB  1,000,000  under  short-term  loans bearing interest at 7.254% in
November  2000  and  through  another  subsidiary  borrowed  RMB 1,000,000 under
short-term loans bearing interest at 5.58% in March 2001.  There were no similar
loans  during  the  quarter  ended  March  31,  2000.


<PAGE>
The  Company  had interest income of RMB 35,058 for the three months ended March
31,  2001  and  RMB  10,463  for  the  three  months  ended  March  31,  2000.

The  Company did not have any commission income for the three months ended March
31,  2001. The Company had commission income of RMB 251,100 for the three months
ended  March  31,  2000.

Income Taxes.          The Company recognized income taxes of RMB 56,903 and RMB
123,636  for  the  three months ended March 31, 2001 and 2000, respectively. The
Company  is  subject  to income taxes on an entity basis on income arising in or
derived  from  the  tax  jurisdiction  in  which  each  entity is domiciled. The
Company's  British Virgin Islands subsidiary is not liable for income taxes. The
Company's PRC subsidiaries are subject to income taxes at an effect rate of 33%.
Pursuant  to  the approval of the relevant PRC tax authorities, the subsidiaries
are  fully  exempted  from PRC income taxes for two years starting from the date
profits  are  first  recognized,  followed by a 50% exemption for the next three
years.

Minority  Interest.     For  the three months ended March 31, 2001 and 2000, the
Company  recorded  a minority interest of RMB 7,040 and RMB 49,439 respectively,
to  reflect  the  interest of the Company's 30% joint venture partner in the net
loss  of  Jiangxi  Fenglin.

Net Income / Loss.     Net loss was RMB 218,235 for the three months ended March
31,  2001,  as compared to a net income of RMB 78,866 for the three months ended
March  31,  2000.  Primarily  as  a  result  of  the  decrease  in  sales.


Six  Months  Ended  March  31,  2001  and  2000:

Sales.     Sales  for the six months ended March 31, 2001 were RMB 6,606,045, as
compared  to  sales of RMB 24,600,910 for the six months ended March 31, 2000, a
decrease  of  RMB 17,994,865 or 73.2%. The decrease in sales in 2001 as compared
to  2000  was  due  to  the  delay  in  the planting schedule as a result of the
unstable  weather  and  as  a  result of the Chinese New Year holidays occurring
earlier  than  usual. The planting season did not start until February. Compared
to  previous  years,  which  had  relatively  stable  and good weather, the 2001
planting  season  was  delayed  by  one  to  two  months. However, the sales and
production levels have been increased since mid-February and management believes
that  sales  for  the year ended September 30, 2001 will meet prior year levels.

Gross  Profit.     Gross  profit for the six months ended March 31, 2001 was RMB
1,552,227  or  23.5%  of  sales. Gross profit for the six months ended March 31,
2000  was RMB 4,632,193 or 18.83% of sales. The gross profit margin increased in
2001  as compared to 2000 as a result of the Company raising its prices to focus
on higher-margin customers, although total gross profit decreased as a result of
the  decline  in  revenue.


<PAGE>
Administrative and General Expenses.     Administrative and general expenses for
the  six  months  ended  March 31, 2001 were RMB 1,596,375 or 24.2% of sales, as
compared  to  RMB  3,304,411  or  13.4% of sales, a decrease of RMB 1,708,036 or
51.7%.  Administrative  and general expenses, in particular salaries and related
costs, decreased in 2001 as compared to 2000 primarily as a result  of decreases
in  costs  incurred  to  support  and expand business operation, including costs
related  to  travel and office expenses, as well as legal and professional fees.

Selling  Expenses.     Selling  expenses for the six months ended March 31, 2001
were  RMB  245,481 or 3.7% of sales, as compared to RMB 600,996 or 2.4% of sales
for  the  six  months  ended  March  31,  2000, a decrease RMB 355,515 or 59.2%.
Selling  expenses  decreased  in  2001  as  compared  to  2000  as a result of a
reduction  in  sales.

Income  (Loss) from Operations.     Loss from operations was RMB 289,629 for the
six  months ended March 31, 2001, as compared to a income from operations of RMB
726,786  for  the  six  months  ended  March  31,  2000.

Other  Income  (Expense).     The  Company recorded amortization of loan fees of
RMB  302,306  and  RMB 308,143 for the six months ended March 31, 2001 and 2000,
respectively.

Interest  Expense.  Interest expense for the six months ended March 31, 2001 was
RMB  31,740  or  0.5%  of  sales.  The company, through one of its subsidiaries,
borrowed  RMB  1,000,000  under  short-term  loans bearing interest at 7.254% in
November  2000,  and  through  another  subsidiary  borrowed RMB 1,000,000 under
short-term  loans bearing interest at 5.58% in March 2001. There were no similar
loans  during  the  quarter  ended  March  31,  2001.

The  Company had interest income of RMB 35,058 and RMB 29,023 for the six months
ended  March  31,  2001  and  2000,  respectively.

The  Company did not record any commission income for the six months ended March
31,  2001,  as compared to record RMB 251,100 for the six months ended March 31,
2000.

Income Taxes.          The Company recognized income taxes of RMB 84,829 and RMB
124,857  for  the  six  months  ended March 31, 2001 and 2000, respectively. The
Company  is  subject  to income taxes on an entity basis on income arising in or
derived  from  the  tax  jurisdiction  in  which  each  entity is domiciled. The
Company's  British Virgin Islands subsidiary is not liable for income taxes. The
Company's PRC subsidiaries are subject to income taxes at an effect rate of 33%.
Pursuant  to  the approval of the relevant PRC tax authorities, the subsidiaries
are  fully  exempted  from PRC income taxes for two years starting from the date
profits  are  first  recognized,  followed by a 50% exemption for the next three
years.

Minority  Interest.     For  the  six  months ended March 31, 2001 and 2000, the
Company recorded a minority interest of RMB 29,622 and RMB 128,808 respectively,
to  reflect  the  interest of the Company's 30% joint venture partner in the net
loss of  Jiangxi  Fenglin.


<PAGE>
Net  Income  (Loss).     Net loss was RMB 643,824 for the six months ended March
31,  2001,  as  compared to a net income of RMB 702,717 for the six months ended
March  31,  2000.

Consolidated  Financial  Condition:

Liquidity  and  Capital  Resources  -  March  31,  2001

Operating.     For the six months ended March 31, 2001, the Company's operations
utilized cash resources of RMB 1,901,143 as compared to utilizing cash resources
of  RMB  1,018,078  for  the  six  months  ended  March  31, 2000. The Company's
operations utilized more cash resources in 2001 as compared to 2000 primarily as
a  result  of  losses  incurred  during 2001. Increases in other receivables and
deposit  were  financed  in  substantial  part  by  accounts  payable, and other
payables  and  accruals.  At  March  31,  2001,  cash  and  cash equivalents had
decreased  by  RMB  656,632  to  RMB  3,960,054, as compared to RMB 4,616,686 at
September  30,  2000. The Company had working capital of RMB 16,825,124 at March
31,  2001,  as  compared  to  RMB 17,557,262 at September 30, 2000, resulting in
current  ratios  of  1.43:1 and 1.54:1 at March 31, 2001 and September 30, 2000,
respectively.

Accounts receivable.          Accounts receivable increased by RMB 1,340,517, to
RMB  39,371,357  at  March  31, 2001, from RMB 38,030,840 at September 30, 2000.
Accounts  receivable  increased  during the six months ended March 31, 2001 as a
result  of  extending  credit  terms offered to certain credit-worthy customers.
Subsequent  to  the  month  ended March 31, 2001, an amount of RMB 9,180,000 was
received  from  customers  to  settle  part  of  the  accounts  receivable.

Inventories.          Inventories  increased  by RMB 1,027,988, to RMB 3,815,389
at  March  31,  2001,  from  RMB  2,787,401  at  September 30, 2000. Inventories
increased  during  the  six  months ended March 31, 2001 in anticipation for the
current  selling  season.

Amount  due  from related parties.     Amount due from related parties decreased
by  RMB  767,091,  to  RMB  2,981,759  at  March 31, 2001, from RMB 3,748,850 at
September  30,  2000  as a result of the repayment from an affiliated company of
approximately RMB 800,000.

Investing.     During the six months ended March 31, 2001 and 2000, additions to
property,  plant  and  equipment  aggregated  RMB  659,489  and  RMB  181,172,
respectively.

Financing.     During  the six months ended March 31, 2001, two of the Company's
subsidiaries  arranged  short-term  bank  loans  of  RMB  1,000,000 each to fund
operations, which will be repaid during 2001. In addition, the Company repaid an
amount  of  RMB  510,000  of  unsecured  short-term  loans.

The  Company  anticipates,  based  on  currently  proposed plans and assumptions
relating  to  its  existing  operations,  that  its  projected  cash  flows from
operations  will  be  sufficient  to support its planned operations for the next
twelve  months.  Depending  on  the  Company's  rate  of  growth,  the


<PAGE>
Company  may  seek  additional  capital  in  the  future to support expansion of
operations  and  acquisitions.

Inflation  and  Currency  Matters:

In  recent  years, the Chinese economy has experienced periods of rapid economic
growth as well as relatively high rates of inflation, which in turn has resulted
in  the  periodic  adoption  by  the  Chinese  government  of various corrective
measures  designed  to  regulate  growth  and contain inflation. Since 1993, the
Chinese  government  has  implemented  an  economic  program designed to control
inflation,  which has resulted in the tightening of working capital available to
Chinese  business enterprises. The success of the Company depends in substantial
part  on  the  continued  growth  and  development  of  the  Chinese  economy.

Foreign  operations are subject to certain risks inherent in conducting business
abroad,  including price and currency exchange controls, and fluctuations in the
relative  value of currencies. Changes in the relative value of currencies occur
periodically  and  may,  in  certain  instances, materially affect the Company's
results  of operations. In addition, the Renminbi is not freely convertible into
foreign  currencies,  and  the ability to convert the Renminbi is subject to the
availability  of  foreign  currencies.

Effective  December  1,  1998,  all  foreign exchange transactions involving the
Renminbi  must  take  place  through authorized banks in China at the prevailing
exchange  rates quoted by the People's Bank of China. The Company expects that a
portion  of its revenues will need to be converted into other currencies to meet
foreign  exchange  currency  obligations, including the payment of any dividends
declared.

Although  the  central government of China has repeatedly indicated that it does
not  intend  to devalue its currency in the near future, recent announcements by
the  central  government  of  China  indicate  that devaluation is an increasing
possibility.  Should  the  central  government  of  China  decide to devalue the
Renminbi,  the  Company  does  not  believe  that  such  an  action would have a
detrimental  effect  on  the  Company's  operations,  since the Company conducts
virtually  all of its business in China, and the sale of its products is settled
in  Renminbi.  However,  devaluation  of  the Renminbi against the United States
dollar  would adversely affect the Company's financial performance when measured
in  United  States  dollars.


New  Accounting  Pronouncements:

In June 1998, the Financial Accounting Standards Board issued Statement No. 133,
"Accounting for Derivative Instruments and Hedging Activities" ("SFAS No. 133"),
which  is  effective  for  financial  statements  for all fiscal quarters of all
fiscal  years  beginning  after  June  15,  2000.  SFAS No. 133 standardizes the
accounting  for derivative instruments, including certain derivative instruments
embedded in other contracts, by requiring that an entity recognize those item as
assets or liabilities in the statement of financial position and measure them at
fair  value.  SFAS


<PAGE>
No.  133  also addresses the accounting for hedging activities. The Company will
adopt  SFAS  No.  133 for its fiscal year beginning January 1, 2001. The Company
does not expect that adoption of SFAS No. 133 will have a material impact on its
financial  statement  presentation  or  disclosures.

In  December  1999,  the  staff of the Securities and Exchange Commission issued
Staff  Accounting  Bulletin  ("SAB")  No.  101, Revenue Recognition in Financial
Statements.  SAB  No.  101,  as  amended  by  SAB  No. 101A and SAB No. 101B, is
effective  no  later  than  the  fourth fiscal quarter of fiscal years beginning
after  December  15,  1999.  SAB  No. 101 provides the staff's views in applying
generally accepted accounting principles to selected revenue recognition issues.
Currently,  the  Company  believes  that  it  complies  with  the accounting and
disclosure described in SAB No. 101; therefore, management believes that SAB No.
101  will  not  impact  the  Company's  financial  statements.


<PAGE>
                           PART II. OTHER INFORMATION


ITEM  2.  CHANGES  IN  SECURITIES  AND  USE  OF  PROCEEDS

Sales  of  Equity  Securities

During the six months ended March 31, 2001, the Company did not issue any shares
of  common  stock.

ITEM  6.  EXHIBITS  AND  REPORTS  ON  FORM  8-K

(a)  Exhibits:


(b)  Reports  on  Form  8-K:

     Six  Months  Ended  March  31,  2001  -  None


<PAGE>
                                   SIGNATURES




In  accordance  with the requirements of the Exchange Act, the registrant caused
this  report  to  be  signed  on  its  behalf by the undersigned, thereunto duly
authorized.




                               AGROCAN CORPORATION
                               -------------------
                                  (Registrant)




Date:                                        By:  /s/  LAWRENCE  HON
                                                -----------------------------
                                                       Lawrence  Hon
                                                       President  and  Chief
                                                       Executive  Officer
                                                       (Duly  Authorized
                                                       Officer)




Date:                                        By:  /s/  CARL  YUEN
                                                ------------------------------
                                                       Carl  Yuen
                                                       Chief Financial Officer
                                                       (Principal  Financial
                                                       and Accounting Officer)


<PAGE>