COFCO signs 1.5 million tonnes Brazil-China sustainable soybean trade agreement
Santos, Brazil – COFCO International, Modern Farming and China Shengmu Organic Milk, both subsidiaries of Mengniu Group, have signed a Strategic Cooperation Framework Agreement to supply 1.5 million tonnes of certified sustainable soybeans from Brazil to China today at COFCO International’s new Santos export terminal.
The soybeans will be third-party verified as deforestation- and conversion-free (DCF) since 31 December 2020, with on-farm audits ensuring sustainable water management, biodiversity conservation, and ethical labour standards in compliance with the COFCO International Responsible Agriculture Standard.
Mengniu, one of the world’s largest milk producers, together with Sheng Mu intend to receive these volumes from COFCO International under mass balance chain of custody between 2025 and 2030.
“This agreement reflects China’s growing demand for sustainable commodities – benefiting Brazil's agricultural sector and its farmers,” said Luiz Noto, CEO of COFCO International Brazil. “Brazil has made great strides in sustainability, and agreements like this reinforce those efforts while creating new opportunities for producers.”
Today’s signing ceremony was attended by the port representative from the city of Santos, senior leaders from Modern Farming, Shengmu, COFCO and the World Economic Forum’s Tropical Forest Alliance.
This strategic cooperation builds on previous shipments to China developed as part of the Green Value Chain Taskforce – an initiative of the World Economic Forum. COFCO International made the first-ever deal to China including a DCF clause, indicating that the production of commodities did not cause a change to natural ecosystems.
COFCO International is committed to eliminating deforestation from its global soy and corn supply chains by 2025 and meeting its Science Based Targets initiative (SBTi)-validated emissions targets which are aligned with 1.5°C global climate goals.
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