China’s biggest food producer eyes global partners to feed 1.4B people
As China’s population continues to grow in an outstanding rate, Cofco Corp., the biggest food producers in the country, is now eyeing partnerships with competitors and other food manufacturers in an effort to feed some 1.4 billion people.
In an interview with Bloomberg Television, Cofco President Patrick Yun said that joint ventures and other form of partnerships with other international food companies will help ensure strong global supply chain and food security of the world most populous nation.
Yun issued the comments in reaction to recent acquisition deals by other food giants like Archer-Daniels-Midland Co., Bunge Ltd., Cargill Inc. and Louis Dreyfus Co., which has been on a buying spree in a bid to become the dominant food producer in the world.
Instead of taking these food giants head on, the executive said that they would rather become partners, saying that it is the most “realistic” approach for Cofco.