BEIJING (Reuters) -Chinese supply chain operator and property developer Xiamen C&D said on Thursday it had signed contracts totalling over $5.2 billion with seven agribusinesses and trading houses including Cargill and Louis Dreyfus Company in Shanghai. The contracts signed covered soybeans, corn and cotton among other goods, the Xiamen-based company said in statements released on […]
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Chinese firm signs $5.2 billion of agricultural deals with traders including Cargill, LDC
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BEIJING (Reuters) -Chinese supply chain operator and property developer Xiamen C&D said on Thursday it had signed contracts totalling over $5.2 billion with seven agribusinesses and trading houses including Cargill and Louis Dreyfus Company in Shanghai.
The contracts signed covered soybeans, corn and cotton among other goods, the Xiamen-based company said in statements released on its Chinese social media account.
Xiamen C&D’s deal with Cargill, a U.S. firm, would supply the Chinese company’s animal feed and food processing businesses, according to one of the statements.
It was not immediately clear if the Cargill deal touches on soybeans, a highly watched commodity after Washington said China would resume purchases of U.S. soybeans as part of a trade truce reached last month.
The Chinese firm’s $2.5 billion deal with agricultural commodity merchant Louis Dreyfus Company would help establish a stable global agricultural supply network, it said in a statement published on Wednesday.
Xiamen C&D’s other contracts were signed with Swiss-based Syngenta and U.S.-based CHS, as well as Olam, BTG Pactual and Cutrale.
(Reporting by Xiuhao Chen and Ryan WooEditing by Mark Potter)