November 8, 2019
Strong investment interest in agri-food highlighted at China International Import Expo
In separate media releases, the second day of the China International Import Expo (CIIE) in Shanghai saw the signing of several cooperation agreements by industry heavyweights Cargill, and China National Chemical Corporation Ltd. ("ChemChina").
ChemChina and SinoChem Group Co., Ltd. ("Sinochem") held a joint signing ceremony at the second CIIE in Shanghai on November 6.
Ning Gaoning, chairman of ChemChina and Sinochem, said at the signing ceremony that the CIIE is an important platform for China to safeguard the multilateral trade system and support economic globalisation. ChemChina and Sinochem are both state-owned corporations with global presence. At the first CIIE held last year, the two corporations signed a number of cooperation agreements with their partners for advancing industrial upgrading and growth by importing high-quality products.
At the signing ceremony this year, the two corporations signed cooperation agreements with 30 partners on site. On the sales side, overseas companies under ChemChina participated in the event, including Syngenta from Switzerland, ADAMA of Israel and Adisseo of France. Incidentally, Adisseo also took the opportunity to commemorate its 80th anniversary at the event.
Adisseo signed cooperation agreements with China's heavyweights in the feed and livestock sector, including New Hope Group, Zhengbang Group and Fujian Sunner to expand cooperation started at the first CIIE.
In addition, Adisseo signed a strategic cooperation agreement with leading dairy conglomerate Mengniu Group. The product involved in the agreement is Mester®, an effective methionine product for ruminants and essential nutrient for the high yield, health and reproduction of dairy cows, and can reduce nitrogen emissions. Adisseo believes that China has broad market prospects for cow breeding and dairy consumption. Being a subsidiary of ChemChina enables Adisseo to go deep into the Chinese market and bring top-notch talents, cutting-edge technologies, products, industrial standards and services into China, as CEO of Adisseo Jean-Marc Dublanc said. From its production base in China, Adisseo currently exports more than half of the products.
At the event, Cargill also announced that it is setting up its Asia-Pacific headquarters for its agriculture supply chain in Shanghai, which together with its Singapore office, would promote the development of its Asia-Pacific operations.
Cargill's agriculture supply chain covers procurement, storage, trade, processing and distribution, and the agricultural produce involved includes soybean, wheat, corn, oilseeds, barley, sorghum, plant oils and meals. Cargill also has regional headquarters for its agriculture supply chain in Sao Paulo in Brazil, Geneva in Switzerland, and Minneapolis in the United States.
According to Robert Aspell, president of Cargill Asia Pacific, in terms of Cargill's agriculture supply chain business, China has great potential for growth and investment opportunities. Therefore Cargill decided to set up a regional headquarters in China, which would help the company better service its customers in China and Asia Pacific.