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China's COFCO Agri hiring grain traders, opening Canadian office

Published 2016-06-10, 01:29 p/m
© Reuters. China's COFCO Agri hiring grain traders, opening Canadian office
NOBG
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LNKD
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WINNIPEG, Manitoba, June 10 (Reuters) - Chinese state-owned
agricultural trader COFCO Agri CNCOF.UL , is opening a trading
office in the Canadian grain hub of Winnipeg, adding to the
aggressive expansion of its North American agriculture business.
COFCO Agri is hiring three grain traders and an operations
manager to expand export and domestic trading, according to the
company's postings on professional networking site LinkedIn (NYSE:LNKD).
Efforts to reach COFCO spokespeople and the company's U.S. human
resources director for further details were unsuccessful.
On its website, the company lists regional trading and asset
offices in eight countries, but none in Canada, the world's
largest canola-exporting country and one of the top wheat
exporters.
COFCO has embarked on an aggressive expansion into
international grain trading, having invested over $3 billion to
buy Noble Group's NOBG.SI agribusiness in March and a large
stake in Dutch grain trader Nidera.
COFCO also has an office in Vancouver to conduct market
analysis.
The company is shopping for deals in the United States and
Canada to give it access to North America's grains and oilseeds
for export. It is also setting up a U.S. ethanol trading desk,
sources told Reuters in May.
Several of the largest Canadian grain traders already have
head offices in Winnipeg, including Richardson International,
Cargill Ltd CARGIL.UL , Paterson Grain and Parrish &
Heimbecker.


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