On April 23, Mr. Chi Jingtao, COFCO vice president and general manager of COFCO Trade Development Company met with Abdolreza Abbassian, senior economist from UN’s Food and Agriculture Organization (FAO) and his delegation at COFCO Plaza. The two sides exchanged views on the possibility of cooperation in agricultural market information system (AMIS) and discussed the collection, analysis and means of sharing business intelligence data.
Mr. Chi Jingtao highlighted the extreme importance of information data to COFCO Trade, whose business model is based on assets, resources and information. COFCO Trade is ready to establish communication channels with FAO regarding market operation information so as to obtain access to valuable market information. In addition, as a major international grain trader COFCO is willing to strengthen exchange of market information with FAO in all sincerity with an open mind and take part in various seminars organized by FAO so as to make COFCO heard in the international arena.
Mr. Abbassian gave a briefing on the basic condition and operation model of FAO’s AMIS and expressed his expectation to collaborate with COFCO Group.
UNFAO’s AMIS is an institutional platform established in response to the demands made by 2011 G20 Summit. The institution releases reports on a regular basis that monitor the output, stock, trading, processing, and prices of four major grain crops – wheat, corn, soybean and rice – with an aim to enhance market information transparency, monitor and analyze the development trends of global agricultural commodities market.
Mr. Ma Lijun, general manager of Wheat Division, Mr. Fan Zhenyu, general manager of Corn Division, Mr. Xu Guanhua, general manager of Integrated Trade Division, and Office Director Guo Yue attended the meeting.