Chinese grain dealer sets itself shares target

The COFCO Group, China’s largest grain and oil dealer, has set itself a target to take more than 20 per cent shares in the domestic rice, flour, edible oil, sugar and dairy markets over the next five years.

The company would raise its production efficiency through scale expansion and scientific technology, and enhance its products’ added value by brand development and improved distribution channels, said Gao Ning, chairman of COFCO, reported World-Grain.

Yu Xubo, president of COFCO, noted that the company would make full use of its advantage in capital, brand management, and technology to improve agricultural profits, increase farmers’ incomes, and achieve the business’s ambitious development.

According to the nation’s development plan for the grain industry covering the 2011-2015 period, China will strengthen support for the leading grain companies and make them play an important role in guaranteeing grain supply.