TRADE sources say Chinese-owned company, COFCO International, is preparing to shut down its Toowoomba operation at the end of this week, a move which will take out a significant trading operation from the Darling Downs.
COFCO’s Australian trading division is based in Melbourne, and it has also operated an office in Perth.
Toowoomba, COFCO’s only regional office, has been the company’s procurement hub for sorghum and chickpeas, and has also traded cereals, oilseed and other pulses.
The Toowoomba branch came into COFCO’s sole operation when the company completed the second stage of its global acquisition of Nidera last year.
COFCO International statement
MEDIA STATEMENT: COFCO INTERNATIONAL CONSOLIDATES AUSTRALIA OFFICES
COFCO International can confirm that it plans to consolidate its Australia offices to its existing location in Melbourne. As a result, the Toowoomba office will close in June 2018. COFCO International is dedicated to providing the highest level of service to its growers, domestic consumers and export customers, and remains committed to the Queensland and NSW markets.