PIXABAY
On December 29, China’sstate-owned grains traderCOFCOsaid a new joint venture has been created with Sinograin, the country's grain stockpiler, to manage the country’s huge grain reserves.
According toReuters,China Enterprise United Grain Reserve Co. Ltd.2023年1月正式开始运营。
According to the COFCO statement on its public WeChat account, the joint company was established in September and is part of the state’s efforts to improve the efficiency of its grain reserves and better ensure food security.
China buys soybeans and grain from global markets to stock its state reserves to ensure food supplies for its population of 1.4 billion people.
