China News Service, Shanghai, November 6 (Tao Siyue) The 9th China International Import Expo was held in Shanghai from the 5th to the 10th. During this period, COFCO and its specialized companies signed contracts with global partners, with the overall contract value exceeding 10 billion US dollars.
On November 6, during the 9th China International Import Expo, the release and on-site signing ceremony of COFCO’s global agricultural and food cooperation initiative was held. (Photo courtesy of the organizer)
According to reports, COFCO’s “shopping cart” includes agricultural products such as wheat, vegetable oil, and Brazilian raw sugar, as well as quality consumer goods such as wine, beer, and champagne. The procurement network covers major agricultural product-producing areas such as North America, South America, and Oceania, as well as “Belt and Road” countries such as Kazakhstan and Argentina.
In terms of wheat procurement, COFCO has signed a new supplier from Kazakhstan this year and further explored transportation methods such as containers and bulk grains. In the procurement of agricultural products such as sorghum and barley, the seasonal complementation of production areas in the northern and southern hemispheres has expanded the channels for high-quality grain sources to enter the Chinese market.
Behind the order are long-term cooperation and stable expectations. COFCO Oils and Fats, a subsidiary of COFCO Group, has signed purchase agreements for bulk agricultural products such as oils and oils with international grain merchants such as Cargill and Bunge for nine consecutive years; COFCO Sugar has reached raw sugar purchase cooperation with its Brazilian partners for nine consecutive years; Chinatex Cotton has signed long-term cotton purchase agreements with Louis Dreyfus and others to further stabilize supply and demand expectations.
Innovation in cooperation models also extends to the field of quality consumption. For example, COFCO Winery and Treasury Wine Estates, a subsidiary of COFCO Group, have deepened channel and brand building, and promoted the expansion of wine cooperation from product introduction to joint development and brand building.
COFCO has also jointly launched an initiative with the China Chamber of Commerce for Import and Export of Food, Native Produce and Livestock, China Inspection and Certification Group, etc., proposing four propositions: open cooperation, resource sharing, stable expectations, and credible quality. It advocates long-term mutual trust, standard convergence, and information transparency, and promotes the transformation of the "6-day" popularity of the CIIE into a "365-day" increase in global agricultural and grain cooperation.
Li Guoqiang, Chairman of COFCO, said that he is willing to work with global partners to transform the opening potential of the CIIE into pragmatic cooperation effectiveness, promote the coordinated extension of trade cooperation to the entire industrial chain, and contribute to maintaining global food security, promoting the sustainable development of world agriculture, and promoting the construction of an open world economy.
