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在线翻译:
szdaily -> Business
COFCO forms US grain supply partnership with Growmark
    2017-August-21  08:53    Shenzhen Daily

COFCO International Ltd. (CIL) and U.S. farm cooperative Growmark Inc. will partner in a deal that gives China more direct access to the food it imports, the companies said Friday.

The grain supply partnership is the latest expansion move by State-owned CIL since it invested US$3 billion to buy Noble Group’s agribusiness and a large stake in Dutch grain trader Nidera in deals that bolstered its position in the international grain market.

As part of the deal, the companies said they would jointly own and operate a truck, rail and barge terminal in Cahokia, Illinois, on the Mississippi River, the main pipeline that supplies exporters along the U.S. Gulf Coast with corn and soybeans. COFCO acquired the terminal near the busy inland port of St. Louis as part of its Nidera deal.

The facility can receive about 180,000 bushels of grain per hour, delivered by truck and rail, and can load two river barges simultaneously at a rate of about 60,000 bushels per hour, Brent Ericson, Growmark’s senior vice president for member services told Reuters.

Growmark staff will assist in sourcing grain at COFCO’s St. Louis office as part of the partnership, the companies said.

The deal draws a more direct link between a large Chinese food importer and farmers in the world’s largest corn exporter and No. 2 soybean exporter.

Growmark hopes to solidify ties to a huge market in China, the world’s top soybean importer and major buyer of other agricultural goods.

“It gives us more of a direct pipeline to those end-users. Economics dictate where grain moves, but all things being equal this gives us a leg up in the Chinese market,” Ericson said.

Market leaders Archer Daniels Midland, Bunge Ltd., Cargill Inc. and Louis Dreyfus Co., known as the ABCD quartet of global grain giants, have recently faced increased competition from smaller traders such as COFCO.(SD-Agencies)

 

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