Cofco, the Chinese state-owned grain trader, is attempting to compete with leading US agribusinesses by floating assets including those acquired from Nidera of the Netherlands and Hong Kong’s Noble Group.
Cofco hopes a stock market listing for some of its international assets will put it on a par with US companies that dominate the world grain trade, including Cargill, Archer Daniels Midland, Bunge and Louis Dreyfus.
It could also enable China, via Cofco, to secure more grain from overseas directly, reducing the country’s reliance on international traders that ship commodities to its ports.
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