COFCO unit partners with US-based co-op
China National Cereals, Oils and Foodstuffs Corp - the country's biggest food trader by sales revenue, on Monday confirmed that COFCO International Ltd, one of its subsidiaries, has formed a grain supply partnership with the Illinois-based farm cooperative Growmark Inc.
The deal was sealed at Bloomington, Illinois on Aug 15. As part of the deal, they will 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 US Gulf Coast with corn and soybeans.
The facility can receive about 180,000 bushels (4572.24 metric tons) of corn per hour, delivered by truck and rail, and can load two river barges simultaneously at a rate of about 60,000 bushels per hour.
