PARIS, Dec 20 (Reuters) – * Chinese-owned COFCO International said on Thursday it was joining an initiative launched recently by other global grain merchants to boost efficiency through data standardisation and use of digital technology. * The initiative, announced in October by the so-called ABCD grain majors – Archer Daniels Midland, Bunge, Cargill and Louis Dreyfus – aims to adopt technologies like blockchain to move away from paper documents and manual payment towards faster electronic processes. * The partnership will initially focus on automating grain and oilseed post-trade processes. * Geneva-based Cofco International is the overseas trading arm of Chinese state-owned food group COFCO and has become a leading global grain merchant after acquisitions in recent years. (Reporting by Gus Trompiz; Editing by Susan Fenton)
Read More
