Tag: Cofco

COFCO Joins Initiative to Modernize Global Agricultural Commodity Trade Operations

COFCO Joins Initiative to Modernize Global Agricultural Commodity Trade Operations

December 28, 2018 |

In Switzerland, COFCO International Ltd is partnering with Archer Daniels Midland Company, Bunge Limited, Cargill Incorporated, and Louis Dreyfus Company to standardize data and digitize global agricultural shipping transactions. Together, the companies are looking to increase transparency and efficiency for customers through digital technologies, such as blockchain and artificial intelligence. “We are pleased to join […]

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COFCO sees Brazilian sugar mills reneging on sugar contracts to produce more ethanol

COFCO sees Brazilian sugar mills reneging on sugar contracts to produce more ethanol

April 26, 2018 |

In Brazil, COFCO told Reuters that demand for ethanol could be strong enough to even encourage the sector to cancel contracts for sugar so that the sucrose could be transformed into ethanol instead. COFCO, as an example, already sold all of its anticipated sugar production for the season that began April 1 and plans to […]

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COFCO reorganizing biofuels assets as part of larger restructuring

COFCO reorganizing biofuels assets as part of larger restructuring

October 25, 2017 |

In China, COFCO’s China Agri-Industries Holdings has sold COFCO Biofuel Holdings Ltd. and COFCO Biochemical Holdings Ltd. to COFCO Bio-chemical Investment Co. Ltd. for a total $1.1 billion as part of a major restructuring exercise meant to streamline its businesses into 18 areas. The biofuel and biochemical companies produce and trade corn-based ethanol as well […]

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COFCO on the sidelines, saddled with debt, but Bunge-Glencor merger talks continue: report

COFCO on the sidelines, saddled with debt, but Bunge-Glencor merger talks continue: report

June 26, 2017 |

In China, Reuters is reporting that COFCO is now expected to sit out the current wave of global M&A amongst major agricultural firms, citing that “he state-run conglomerate is struggling to integrate businesses it bought three years ago, deals which made it a significant global agricultural trader but are now hindering its ability to swoop […]

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Losses from rogue biofuels trader send Nidera back to Cofco for $258 million in loans

Losses from rogue biofuels trader send Nidera back to Cofco for $258 million in loans

May 9, 2017 |

In the Netherlands, the full extent of the impact on Nidera’s business following the actions of a rogue biodiesel trader in 2015 that led to unknown losses of $115 million as well as related costs and irregularities were revealed in the company’s 2016 reporting recently. In December, the company had to turn to its new […]

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COFCO setting up ethanol trading desk for US-Brazil-China trade

COFCO setting up ethanol trading desk for US-Brazil-China trade

May 26, 2016 |

In New York, COFCO is setting up an ethanol trading desk in an attempt to penetrate the US ethanol market. The company has headhunted a trader from Louis Dreyfus Commodities and will likely source others to facilitate trade from the US and Brazil into China. They trader would also look to trade between the US […]

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COFCO still believes in Nidera and biofuels after ethanol trading scandal

COFCO still believes in Nidera and biofuels after ethanol trading scandal

September 28, 2015 |

In China, COFCO says the ethanol trading scandal that hit the Dutch-based Nidera of whom it owns 51% won’t knock the mother company’s faith in the trading company. What’s more, COFCO is looking to expand its shareholding in Nidera. The trading scandal hit the company hard but it says the issue has been dealt with […]

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China boosts ethanol imports, but how long will it last?

China boosts ethanol imports, but how long will it last?

August 17, 2015 |

In China, COFCO has begun importing ethanol from its recently-acquired Brazilian sugar mills through a JV with Noble, the first such trade since 2012, which is part of a new move towards ethanol imports. The country imported 56,000 metric tons during the first half of 2015, more than double all of the ethanol imported during […]

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12 Bellwether Biofuels Projects for 2013

12 Bellwether Biofuels Projects for 2013

January 1, 2013 |

A long war of opinion has been waged for years between advanced biofuels’ detractors and supporters. Mirage or reality? Completion of 6 key projects 2012 decided much of the debate. When these 12 projects open for business (or not) in 2013, you’ll know for sure. Advanced, next-generation biofuels are on the march, say the supporters. […]

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COFCO to lay cornerstone on 50K tonne cellulosic ethanol project

COFCO to lay cornerstone on 50K tonne cellulosic ethanol project

September 26, 2011 |

In China, the first phase of COFCO Corporation’s cellulosic ethanol production line with capacity of 50,000 metric tons per year will lay a foundation in Zhaodong in December, which will launch in 2013. COFCO invested $156.7 million in the production line of cellulosic ethanol with capacity of 100,000 tons per year. The project expands upon […]

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