Tag: Cofco

COFCO, Raizen and AMaggi said to be looking at corn ethanol investments

COFCO, Raizen and AMaggi said to be looking at corn ethanol investments

December 18, 2019 |

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 […]

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COFCO Brazil expanding ethanol production at three sugar mills

COFCO Brazil expanding ethanol production at three sugar mills

November 7, 2019 |

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 […]

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Cofco to build a pipeline connecting biodiesel facility to Rondonópolis rail terminal

Cofco to build a pipeline connecting biodiesel facility to Rondonópolis rail terminal

September 24, 2019 |

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 […]

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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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