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China's COFCO to buy $100m of pork from Danish Crown

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Christian Fernsby ▼ | November 7, 2019
China's state-owned agriculture conglomerate COFCO said it had agreed to buy $100 million of pork from European pork producer Danish Crown in 2020 to help ease a domestic pork shortage following a widespread pig disease.
Asia   The two companies signed a preliminary purchase agreement
The two companies signed a preliminary purchase agreement on the sidelines of the China International Import Expo in Shanghai.

Topics: China Danish Crown

COFCO said in a statement the deal would help it to diversify the origins of its imports and product variety, and make purchases more sustainable.

Lars Albertsen, sales director at Danish Crown, said no volumes had been agreed yet, but he said the sale was "one of the biggest deals we've done out here in a long, long time".

He said it could be expanded, given the huge needs from China.

"There's a shortage of pork so the likelihood is that it will become more," he told Reuters.