China National Cereals, Oils and Foodstuffs Corp, known as COFCO and the country’s largest food trader, has agreed to purchase 51 percent of Rotterdam-based grain trader Nidera BV for an undisclosed sum to further expand China’s grain supply channel in South America. Nidera, with an annual turnover of more than $17 billion, is a major player in South America’s agribusiness and crop technology sectors. It has built a global presence in more than 20 countries, including Brazil, Argentina, Uruguay, the United Kingdom and Italy. It employs 3,800 people globally in agricultural, commercial and industrial operations…Full Article: Chinanews.com Mar 2014
- COFCO will now be able to source oilseeds, corn, soybeans, and edible oils directly from Brazil, Argentina, and Uruguay.
- In November 2012, COFCO announced that for the next four years it had approximately US$10 billion to fund overseas mergers and acquisitions
- In March 2013, COFCO announced that it received $4.82 billion in loans from the China Development Bank in order to stabilize food prices and improve productivity