COFCO Group signs large purchase contracts with multiple foreign partners

COFCO Group, China's largest foodstuff producer and grain trader by sales revenue, has signed over $10 billion worth of purchase contracts with various foreign partners during the fifth China International Import Expo (CIIE) in Shanghai, the company said on Sunday.

In addition to importing edible oil, sugar, meat, alcohol and dairy products from overseas markets, the company purchased grain and bulk commodities such as wheat, corn, sorghum and cotton to meet the demand of domestic food processing enterprises. It will introduce high-quality agricultural and grain products with different tastes from more regions around the world into the home market, the Beijing-headquartered State-owned enterprise said in a statement.

These foodstuff and agricultural products will be supplied from countries including Thailand, Cambodia, the United States, Canada, Australia, France, Kazakhstan, Russia and Brazil, said Luan Richeng, COFCO's president.

This is the fifth year the company has participated in the CIIE, said the statement.