Cofco International, the trading arm of the Chinese state-run food group, is looking to increase its reach in grains and soyabean procurement as it continues to build its operations to rival that of international agricultural traders.
With a global trading network spanning over 50 countries, Cofco International, which sources more than 40m tonnes of grains and oilseeds a year, said it wanted to increase this to more than 60m tonnes by 2022.
“Handling commodities on such a vast scale in such a short time is testament to the trusted relationships we have built with farmers,” Jingtao Chi, Cofco International chairman, told delegates at the FT Commodities Global Summit.
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