China overhauls state food giants to secure food supply

An employee harvests tomatoes at a Cofco infoor farm near Beijing. Picture: BLOOMBERG/QILAI SHEN

The move will play to the strengths of the respective firms and contribute to China’s broader goal of improving food security, according to a government statement late on Thursday. Food security remains at the forefront of China’s political agenda after floods, epidemics and trade tensions raised pressure on the government to safeguard food supply for its 1.4-billion people. The nation’s imports of corn, soybeans, wheat and meat have soared to record levels in recent years, driving global prices higher and stoking worries over food inflation.

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