BEIJING, Aug. 23 (China News) -- Reporter was informed by COFCO that at the BRICS Business Forum held in Johannesburg, South Africa, on the 22nd, Lv Jun, Chinese director of the BRICS Business Council and chairman of COFCO Group, said that COFCO has insisted on investing in BRICS countries to explore new ways to deepen BRICS agricultural cooperation for a long time.

The total food production of BRICS countries accounts for about 40% of the world, and the agricultural output value accounts for more than 50% of the world. As the main channel for the import and export of Chinese agricultural products, COFCO actively promotes grain trade with BRICS countries and facilitates the complementary circulation of agricultural products.

In 2019, COFCO took the lead in carrying out the containerized import business of South African edible-grade white corn, and realized the first bulk vessel import of South African feed-grade yellow corn in May this year, officially opening the channel for South African corn to be exported to China. Meanwhile, COFCO also imports agricultural products such as feed ingredients, fruits, nuts, aquatic and marine products, wool, etc. from South Africa, and exports tomato products and other agricultural products to South Africa.

COFCO, as one of the major exporters or processors of agricultural products such as corn, soybeans and raw sugar in Brazil, is the first Brazilian soybean exporter to China. Lv Jun revealed that in March 2022, COFCO won the bid on the STS11 project in Santos, Brazil, and officially started construction in August this year. The Port of Santos is currently the largest port in Latin America. When the Santos STS11 project goes into operation, it will become one of the largest agro-food terminals in the port, greatly enhancing the efficiency of the circulation of Brazilian agricultural products in foreign trade.

Russia and India are among the world’s leading exporters of agricultural products. Currently, COFCO’s agricultural trade in the two countries covers a wide range of categories such as vegetable oil, soybeans, corn, barley and wheat.

Lv Jun revealed that COFCO also has innovated cooperation models in BRICS countries to promote sustainable development. Taking South Africa as an example, COFCO has explored the “contracting” mode, integrating local farms into its own industrial chain, collaborating closely in planting, purchasing, processing, trading, logistics and other aspects of the whole process, providing farmers with cheaper seeds, fertilizers and other means of production, and helping to solve the problem of local employment. The two patties have formed a high degree of community of interest to achieve mutual benefit and win-win situation. Since 2009, COFCO has started in Mpumalanga Province, an important agricultural production area in South Africa, and has now expanded the model to 43 farms across South Africa, with a total contracted farm area of over 70,000 hectares. Currently, COFCO is expanding the model to sub-Saharan Africa to benefit more countries and regions.