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Tag Archives COFCO

Covantis developers said they met with industry stakeholders in Brazil in October to discuss how their system would apply in soybean traffic between Brazil and China. (Covantis.io)
Crops, Markets

Major grain traders’ e-transaction platform gets name

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The blockchain-based global commodity transaction platform being developed by six of the world’s biggest agrifood firms is moving ahead with a new name and project leader. The six companies — ADM, Bunge, Cargill, Louis Dreyfus, Cofco and Glencore Agriculture — announced Wednesday the project will be named Covantis, and have hired former ADM executive Stefano […] Read more
Louis Dreyfus’ oilseed processing plant at Yorkton, Sask. (LDC.com)
Crops, Reuters

Louis Dreyfus could consider selling stake to regional player

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Paris | Reuters — Louis Dreyfus Co., one of the world’s biggest agricultural commodities houses, may consider selling a stake to a regional player to support its development although there are no specific plans to do so, the company said Friday. Agricultural commodities traders have been grappling with lower profits from sourcing and shipping commodities […] Read more
(Dave Bedard photo)
Crops, Reuters, Soybeans

China signals to state giants: ‘Buy American’ oil and grains

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Singapore/Beijing | Reuters –– China will import record volumes of U.S. oil and is likely to ship more U.S. soy after Beijing signalled to state-run refiners and grains purchasers they should buy more to help ease tensions between the two top economies, trade sources said on Wednesday. China pledged at the weekend to increase imports […] Read more
Canola south of Ethelton, Sask. on Aug. 3, 2017. (Dave Bedard photo)
Canola, Crops, Markets, Reuters

China’s Cofco seeks larger Canadian canola volumes

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Winnipeg | Reuters — State-owned Chinese agribusiness Cofco Corp. looks to buy 2.5 million tonnes of Canada’s canola crop next year, a boost of more than one-third over its expected purchases this year as its Canadian office gets established, said the company’s global head of softseeds on Wednesday. Cofco opened its Canadian trading office in […] Read more
Representatives from Growmark and Cofco have signed on for a new grain supply agreement. (Photo courtesy Growmark)
Crops, Reuters

China’s Cofco to partner with Growmark on U.S. grain supply

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Reuters — China’s state-owned Cofco International Ltd. (CIL) and U.S. farm co-operative Growmark on Friday announced a new grain supply partnership which they say will enhance links between U.S. grain production areas and global markets, including China. The partnership is the latest expansion move by CIL after it invested US$3 billion to buy Noble Group’s […] Read more
A truck bears the logo of the Fortune brand, used by Cofco’s China Agri subsidiary to market rice and flour. (Cofco.com)
Cereals, Crops

China shipping wheat flour to Canada

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Chinese state-owned agrifood firm Cofco says it has scored its first-ever international sale of wheat flour — into the Canadian market. Cofco, which said in June it plans to open a Canadian grain trading office in Winnipeg, recently announced it had loaded a container ship at the northeastern port of Dalian on Nov. 17 with […] Read more
Shanghai’s Pudong business district, shown here, is home to COFCO Agri’s Chinese trading office. (CIA.gov)
Crops, Markets, Reuters

China’s COFCO to open Canadian grain office by autumn

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Winnipeg | Reuters — China’s COFCO Agri will open a Canadian crop trading office in Winnipeg by the time farmers harvest their new crops, the state-owned agricultural trader said Tuesday. The new office, which Reuters reported earlier this month, will focus on trading canola and its processed products oil and meal, as well as wheat, […] Read more

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