China's largest trader of grains, is seeking overseas acquisition

China National Cereals, Oils and Foodstuffs Corp Limited (COFCO) is China's largest trader of grains is now seeking overseas acquisitions, in a bid to secure supplies of commodities. These commodities include soybeans, sugar, wheat as the rising domestic incomes spur faster food demand growth. They are looking at countries like the US, South America, Australia and Russia. Chairman Frank Ning said "he did not identify which companies were being considered, the company may be engaged in farming, logistics, processing, and trading ventures in supplier countries", Ning said. Read more ...