Posts tagged "COFCO"

China Food Giant Expands in Brazil

[10 May/Bloomberg] A Chinese food giant, Cofco International, had positioned itself to increase soybean purchases from Brazil due to trade tensions between the U.S and China. Cofco strengthened its team that bought, stored and sold farmer crops in the South American country. Brazil was the world’s largest soybean exporter. China was yet to implement planned...

China Food Giant Says Trade War with U.S. Not Good for World

[13 March/Bloomberg] Cofco Corp, China’s biggest food company, is raising awareness of escalating trade tensions with the U.S. indicating potential suffering for the global economy and adverse situations if agricultural goods are used as bargaining tools. Cofco Corp’s President, Patrick Yu, said he didn’t think any government wanted to take action to block the agricultural...

Australian government intervenes in Wilmar sugar row

[29 March/ Reuters] The Australian government has forced Singapore-listed sugar miller Wilmar International Ltd to end a two-year dispute with Queensland cane growers. The Australian Federal Government plans to introduce a mandatory code of conduct forcing millers such as Wilmar to allow farmers to choose who sells sugar after it has been processed by mills....

Cofco shows children the secrets of farming

[2 June/ China Daily] COFCO has launched a two day program for children to explore the high-tech farming systems and plants on one of its Chinese farms. The farm had adopted the highest level of modern agriculture technology to cultivate vegetables and mushrooms, including artificial lighting and temperature controls. The farm’s engineers were available to...

NZ to help China improve food safety

[11 November/ Business Day] AsureQuality CEO, John McKay, said the demand for better food safety, quality and choice coming from China’s rapid social advancement and urbanisation was behind an agreement signed around the APEC meetings in Beijing. The agreement between AsureQuality, COFCO (China’s largest agricultural and food products supplier) and the accountants, PwC, draws on...

Agri giant COFCO plans assets listing

[30 October/ China Daily] China’s largest grain trader, COFCO Corporation plans the public listing of some of its assets, including a majority stake in Noble Group’s agribusiness unit. COFCO chairman, Frank Ning said the listing could take approximately three years and there are no major acquisitions being contemplated in the meantime. The new entity is...

Australia, China agree on 100-year food plan

[8 August/ National Business Review] Mining tycoon, Andrew Forrest is leading a Chinese backed initiative to revive Australia’s farm sector, and has engaged three major food companies, (New Hope Group, state-owned COFCO Group and Wilmar International) to join his move to position Australia as China’s ‘friendliest, largest and most efficient’ supplier of agricultural products over...

Grain Buyer COFCO Makes a Deal for Agribusiness

 [3 April/ The Wall Street Journal] In addition to an earlier agreement to acquire 51% of the Dutch grain trader, Nidera NV, China’s state owned COFCO Corporation has joined with mainland private equity firm Hopu Management Investment Co to acquire a 51% stake in a joint venture (Noble Agri Ltd.) with the Singaporean Noble Group....

China’s COFCO to acquire 51% of commodity trader Nidera

 [1 March/ Agence France Presse, France] COFCO, China’s state owned food conglomerate has acquired a majority stake in the Netherland’s based commodity trader, Nidera, for USD1.2 billion.  Nidera trades grain and soyabeans among other agricultural commodities and the acquisition will give China greater control over the pricing on the world’s grain markets and better access...