By Ana Mano
SAO PAULO, Feb 2 (Reuters) - COFCO International has signed an agreement to supply 1.5 million tons of certified sustainable soybeans to two dairy companies in China, according to a statement on Sunday.
The soy will be third-party verified as free from deforestation and conversion of natural vegetation from December 2020, COFCO said, citing plans to conduct on-site farm audits to ensure sustainable production practices.
The buyers of the certified soy will be China Mengniu Dairy and Sheng Mu Organic Dairy. Delivery of the soy will occur between 2025 and 2030.
"This agreement reflects China's growing demand for sustainable commodities," said Luiz Noto, CEO of COFCO International Brasil. “Brazil has made great strides in sustainability and agreements like this reinforce these initiatives while creating new opportunities for producers.”
COFCO was Brazil's fourth largest soy exporter to China in 2024, shipping 6.65 million tons, according to shipping data.
Brazil, the world's largest soy producer and exporter, sends most of its exported soybeans to the Asian country, where it is processed to make animal feed and oil.
The company said the agreement builds on COFCO International's previous shipments of deforestation- and conversion-free soybeans to China.
COFCO said it is committed to eliminating deforestation from its global soy and corn supply chains by 2025.
(Reporting by Ana Mano; editing by Diane Craft)
((ana.mano@thomsonreuters.com; Tel: +55-11-5644-7704; Mob: +55-119-4470-4529; Reuters Messaging: ana.mano.thomsonreuters.com@reuters.net))
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