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COFCO to purchase 8mn tons of soybeans from ADM, Bunge others
Nov. 10, 2021
COFCO held a ceremony to sign a framework agreement on the import of soybeans, according to Chinese SASAC on November 6.
The grease company of COFCO Group signed contracts with ADM, Bunge, Cargill, Louis Dreyfus, ECTP and Syngenta (Switzerland) to import 8.4 million tons soybeans. The total amount of procurement increased by about 20% over last year.
COFCO uses the platform of China’s International Import Expo to constantly broaden its supply channels for the import of soybeans. COFCO is actively participating in the “new pattern of development via utilization of the markets and resources at home and abroad,” which helps to safeguard the national food security and maintain the stability of the global food supply chain.
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