October 21, 2008


China Agri looks to expand oilseed crushing business

China Agri-Industries Holdings Ltd is looking to acquire businesses in the oilseed crushing market with US$732 million, as the global financial crisis impacts commodities prices.


The company aims to increase its oilseed crushing capacity by 50 percent to about 10 million tonnes by 2010, according to vice president Andy Lee.


Lee said China's vegetable oil consumption has increased at an annual rate of 9-10 percent for the past three years, therefore the growth is not expected to slow significant even if economy growth eases.


China's COFCO Ltd owns 58 percent of China Agri.

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