In 2016, COFCO Corporation kept on accelerating the construction of warehouses and logistic facilities in Central Asia, Far East and around the Black Sea as well as agricultural products processing facilities in Southeast Asia, and promoted exchanges in agriculture and trade as well as synergy in industrial development along the “Belt and Road” by leveraging its G&O industry presence around the world. Last year, the total international trading volume of agricultural and grain products almost hit 130 million tons with the amount of trade at US$ 41.86 billion involving nearly 140 countries and regions.
In 2016, COFCO Corporation spent US$ 9.3 billion importing 23 million tons of agricultural and grain products from 81 countries so as to match consumption upgrade and meet consumers’ differentiated demands in China market.
As a major channel to export China’s agricultural and grain products, COFCO Corporation reaped foreign exchange earnings worth US$ 860 million by exporting a total of 1.1 million tons of such products in 2016.
Meanwhile, COFCO Corporation has also been a major bridge linking the production and consumption of agricultural products in the world. In 2016, COFCO Corporation’s amount of trade that didn’t involve China reached US$ 31.7 billion, shipping over 100 million tons of agricultural and grain products from major production regions to 40 countries’ consumer markets.
In the future, COFCO Corporation will continue to play its role of investment entity of China’s G&O industry in countries along the “Belt and Road” and further improve the positioning of its supply chain assets in the world’s major grain production regions so as to enhance its operational efficiency and promote international trade.