COFCO makes painful cuts in bid to lead food trade
But doubts persist among some in the industry over whether the Chinese trading firm will really challenge the existing four dominant players in grains, oilseeds and sugar
Beijing
CHINA'S COFCO International is in the throes of a staffing upheaval as the group pursues its professed ambition of sitting at the top table of global agricultural traders.
But doubts persist among some in the industry over whether the trading firm will really challenge the existing four dominant players in grains, oilseeds and sugar. In the end, they suspect, it may prioritise securing strategic food supplies for China over commercial aims in an era of rising trade tensions.
State-owned conglomerate China National Cereals, Oils and Foodstuffs Corp began building its foreign commodities operations…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
BHP to decide on future of nickel business by August, trims met coal estimates
Even without war in the Gulf, pricier petrol is here to stay
Gold gains as Middle East tensions lift safe-haven appeal
‘No trade war’, says Biden, pushing to triple tariffs on Chinese steel
Oil falls over US$1 as demand worries outweigh Middle East supply risks
Liberalise South-east Asia’s energy sector to attract more private finance: BlackRock official