GFM Network News


Covantis developers said they met with industry stakeholders in Brazil in October to discuss how their system would apply in soybean traffic between Brazil and China. (Covantis.io)

Major grain traders’ e-transaction platform gets name

The blockchain-based global commodity transaction platform being developed by six of the world’s biggest agrifood firms is moving ahead with a new name and project leader. The six companies — ADM, Bunge, Cargill, Louis Dreyfus, Cofco and Glencore Agriculture — announced Wednesday the project will be named Covantis, and have hired former ADM executive Stefano […] Read more







Canola south of Ethelton, Sask. on Aug. 3, 2017. (Dave Bedard photo)

China’s Cofco seeks larger Canadian canola volumes

Winnipeg | Reuters — State-owned Chinese agribusiness Cofco Corp. looks to buy 2.5 million tonnes of Canada’s canola crop next year, a boost of more than one-third over its expected purchases this year as its Canadian office gets established, said the company’s global head of softseeds on Wednesday. Cofco opened its Canadian trading office in […] Read more


Representatives from Growmark and Cofco have signed on for a new grain supply agreement. (Photo courtesy Growmark)

China’s Cofco to partner with Growmark on U.S. grain supply

Reuters — China’s state-owned Cofco International Ltd. (CIL) and U.S. farm co-operative Growmark on Friday announced a new grain supply partnership which they say will enhance links between U.S. grain production areas and global markets, including China. The partnership is the latest expansion move by CIL after it invested US$3 billion to buy Noble Group’s […] Read more

A truck bears the logo of the Fortune brand, used by Cofco’s China Agri subsidiary to market rice and flour. (Cofco.com)

China shipping wheat flour to Canada

Chinese state-owned agrifood firm Cofco says it has scored its first-ever international sale of wheat flour — into the Canadian market. Cofco, which said in June it plans to open a Canadian grain trading office in Winnipeg, recently announced it had loaded a container ship at the northeastern port of Dalian on Nov. 17 with […] Read more