On September 29, Cargill announced that Cargill Grains and Oils (Rizhao) Co., Ltd. (hereinafter referred to as "Rizhao Factory") was officially put into operation. Prior to this, Cargill's agricultural supply chain business also operated five grain and oil processing plants in Guangdong, Hebei and Jiangsu, but only one factory in Hebei in the north. The new plant is operational, helping Cargill meet the needs of customers in the northern market for soybean meal and food ingredients.
It is understood that in 2020, Cargill purchased the assets of the Rizhao factory through an online judicial auction. In the past year, Cargill has invested about 600 million yuan to upgrade equipment and complete trial operations. After the official operation, the annual crushing capacity of the Rizhao plant will reach 1.3 million tons. It is reported that the Rizhao factory is Cargill's sixth grain and oil processing plant in China. At present, Cargill's agricultural supply chain business also operates five grain and oil processing plants in Guangdong, Hebei and Jiangsu. Three are located in Guangdong, one in Jiangsu and one in Hebei. The commissioning of the Rizhao plant will help Cargill better serve customers and consumers in the northern market.
The northern region has a strong demand for soybean meal, with a huge market for food ingredients, protein and food, and is one of Cargill's priority areas for development in China. The Rizhao plant will help Cargill further expand its business in the northern market and establish a food and feed production base to meet the growing demand of the market.
This article originated from Blue Whale Finance
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