Nidera Says `Rogue Trader' Caused Significant Loss in Biofuels
- China's Cofco bought 51 percent stake in Dutch trader in 2014
- Nidera CEO says food trader has now exited biofuels business
This article is for subscribers only.
Nidera BV, the Dutch grain trader controlled by a Chinese state-owned company, suffered a loss in biofuels because of the actions of what its chief executive officer described as a “rogue trader.”
Nidera CEO Ton van der Laan said the grain-trading house has since exited the biofuels business and closed all the deals linked to the losses.