On November 6th, at the 7th China International Import Expo (CIIE), COFCO Group signed contracts with suppliers from around the world to purchase high-quality agricultural products from all over the world, with a contract scale exceeding billions of dollars. Compared with previous years, the sources of imports have become more diversified, the import structure continues to optimize, and the "spillover effect" of the China International Import Expo in the field of agriculture and grain continues to be highlighted.
More than one-third of the products in the order are imported from different sources
Jointly build a country for the "the Belt and Road"
It is understood that COFCO Group has continued to import from traditional grain exporting countries this year, and further strengthened its import efforts from Kazakhstan, Bulgaria, Argentina and other "the Belt and Road" countries. Statistics show that more than one third of the purchase orders in this contract are imported from countries jointly built along the "the Belt and Road", covering wheat, rice and other categories.
Among them, in wheat imports, COFCO's wheat imports to Kazakhstan increased by about 20% compared to previous years. Based on this signing, COFCO Group will continue to strongly support the wheat import business of relevant countries, explore new supply channels and transportation methods, and meet the domestic market's demand for high-quality imported wheat. Kazakhstan is the largest grain producing country in Central Asia, producing high gluten wheat and low gluten wheat. Importing Kazakh wheat can not only provide a richer selection of high-quality and personalized raw materials for the domestic market, but also further expand the diversified channels for importing agricultural products and enhance the resilience of the agricultural grain supply chain.
Strengthen the procurement of agricultural products from Africa
Promote agricultural cooperation between China and Africa
In recent years, China has continuously increased its imports of African agricultural products, becoming the second largest market for African agricultural exports. At this year's CIIE, COFCO Group particularly strengthened its procurement of cotton and other agricultural products from the least developed countries in Africa, such as Benin and Burkina Faso. By signing procurement agreements, establishing long-term cooperative relationships, supporting the entry of high-quality local agricultural products into the Chinese market, and integrating them into the global agricultural and grain distribution system, we aim to achieve mutual benefit and win-win outcomes.
Relying on its global layout and full industry chain operation advantages, COFCO Group has increased its investment layout in Africa and led the modernization transformation of the local agricultural and grain industry. In South Africa, COFCO has innovatively explored the "signing" model, integrating local farms into its own industrial chain, closely connecting with farmers in various upstream and downstream links, forming a highly shared interest community, and achieving mutual benefit and win-win results. Currently, COFCO is promoting this model in sub Saharan Africa, benefiting more countries and regions, and providing assistance for better promoting agricultural cooperation between China and Africa and promoting stable and smooth global agricultural supply chains.
Joining hands with old and new friends
Jointly expand the "friend circle" of agriculture and grain
Among the contracted suppliers of COFCO Group this year, not only has a group of new partners emerged, but also a group of "old friends" have arrived as scheduled. Among them, internationally renowned enterprises such as ADM, Bangji, Cargill, and Louis Dreyfus have participated in the CIIE for seven consecutive years and signed contracts with COFCO Group in multiple agricultural product fields, including oil and oilseeds, at the CIIE.
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