COFCO signed a deal to supply 1.5 million tonnes of certified sustainable soybeans from Brazil to China, according to a Sunday press release on the Chinese state-owned grain trader's website.
The agreement was signed with dairy company Mengniu Group's subsidiaries China Shengmu Organic Milk (HKG:1432) and Modern Farming.
Mengniu and Sheng Mu will receive these volumes from COFCO under mass balance chain of custody between 2025 and 2030.
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