COFCO gears up to face global challenge

China National Cereals, Oils and Foodstuffs Corp, the country's largest food trader, is to enhance its information collection, logistics, food-processing and infrastructure development abilities to better compete with established rivals in the global market.

Ning Gaoning, chairman of COFCO, said China's food security needs an integrated and comprehensive approach that includes international mergers, acquisitions, cooperation, facility development and education.

COFCO has more than 10,000 employees from more than 70 nations and regions working in various overseas markets, mainly in Asia, Latin America and Europe. It plans to further improve its capability in maritime transportation and food processing, as well as the entire supply chain services in seed, pesticide and fertilizer businesses over the next five years.