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COFCO and KazAgro Signed Wheat Trade & Cooperation Framework Agreement Release Time : 2014-06-10

In order to promote the wheat trade and cooperation between enterprises of China and Kazakhstan, Mr. Chi Jingtao, Vice-President of COFCO Corporation, and Mr. Aitzhanov Dulat, Chairman of the Executive Board of KazAgro National Management Holding JSC, signed the wheat trade and cooperation framework agreement in COFCO Plaza on May 20, 2014.
According to the agreement, COFCO will import 100,000 tons of the milling wheat from KazAgro following the market rule as long as the market of China has demand and the wheat of Kazakhstan is competitive in price. The two parties will deepen cooperation like constructing intermediate facilities in border ports jointly.
COFCO has been pushing forward importing wheat from Kazakhstan since 2008. The volume has been increasing dramatically from a container in 2009 to 210,000 tons in 2012. The volume of 2014 reached 160,000 tons from January to April and was expected to make the record by the end of this year.

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