China’s leading agricultural and food company, COFCO Corporation, has invested more than US$2.3 billion in Brazil since 2014, according to data released by the company. COFCO Corporation has become one of the largest exporters and processors of corn, soybeans and raw sugar in Brazil.
In 2022, the company sold 33 million tons of agricultural products in Brazil and recorded sales revenue of US$ 5.4 billion.
Over the past three years, COFCO Corporation has imported 34 million tons of agricultural products from Brazil, with a total import value of US$19 billion.
Importing high-quality Brazilian agricultural products to China not only solves the issue of agricultural product sales for Brazilian farmers but also meets China’s national demand for agricultural products, achieving mutual benefits and win-win results, according to the company.
(Source: People’s Daily)