In Brazil, Reuters reports that China’s COFCO, Raizen and AMaggi are among those who are rushing to put up corn-based ethanol production after a first pilot plant two years ago demonstrated profitability. Although there are 349 sugarcane ethanol plants in the country, six corn-based plants are under construction and at least seven are in the […]
In Brazil, Reuters reports that on the back of flattened sugar prices due to India’s continual production and export of too much sugar, COFCO has invested heavily in ethanol production with projects ongoing to expand capacity at three of its four sugarcane mills in the country. With 14 cents per pound of sugar seen triggering […]
In Brazil, Reuters reports Cofco International plans to invest in a one or two kilometer pipeline to transport its biodiesel to the Rondonópolis rail terminal area that could be operational sometime in 2020. Construction is set to begin already this year. The company has boosted its biodiesel production in Mato Grosso by 42% to 306 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
