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China Kicks Off Reform of State Food Giants Cofco, Sinograin

  • Sinograin to focus on grain storage, Cofco controls processing
  • Move will boost efficiency and help advance food security goal
An employee harvests tomatoes at a Cofco infoor farm near Beijing.

An employee harvests tomatoes at a Cofco infoor farm near Beijing.

Photographer: Qilai Shen/Bloomberg
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China has kicked off a long-anticipated overhaul of its massive state-owned agriculture companies to help secure food supply for the world’s most populous nation.

Food giant Cofco Corp. and national stockpiler China Grain Reserves Group, also known as Sinograin, will set up two joint ventures. The first is a grain storage business to be controlled by Sinograin, and the second for oilseed crushing and processing will be managed by Cofco.