Food trader buys majority share in Nidera

China National Cereals, Oils and Foodstuffs Corp, the country's largest food trader, has agreed to buy a 51 percent stake of Rotterdam-based grain trader Nidera to further expand China's grain supply channel in South America.

Holding the Dutch company's stake will help COFCO gain direct access to buy oilseed and grain in the South American market, and further ensure grain security for the world's most populous country.

Nidera is a major player in South America's agribusiness and crop technology sectors. Its business activities are integrated with export-oriented countries such as Brazil, Argentina and Uruguay, and are primarily dedicated to seed development and cultivation, farm technology, storage, processing and exports of agricultural products.

Formerly a privately owned company, Nidera has built a presence in more than 20 countries and employs 3,800 people globally in agricultural, commercial and industrial operations.

zhongnan@chinadaily.com.cn