Cofco now China’s leading rapeseed processor
Cofco, China’s largest state-owned grain trading house, has completed construction of four rapeseed plants in the country’s major growing areas, making it the largest national rapeseed processor, Xinhua news agency reported.
Cofco‘s four crushers, located in the provinces of Anhui and Hubei and the city of Chongqing, will be able to process 3 million tonnes of domestic rapeseed a year altogether.
The market share of rapeseed oil has been declining in recent years, reduced to trailing soy oil and palm oil as domestic rapeseed production has fallen. Imports from Canada, the largest producer, have since 2009 been restricted soley to non-major growing areas.
The import restriction has forced some companies to set up new facilities in non-major growing areas along the coast, which will spur more rapeseed imports this year, analysts said.
Canadian grain handler Viterra Inc has set up a rapeseed crusher with annual capacity of 680,000 tonnes of canola in the southern region of Guangxi.
The China National Grain and Oils Information Centre expects 2011/2012 (June/May) rapeseed imports to hit 1.8 million tonnes, up from 1.277 million tonnes in the previous year, because of the expanded capacity.
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