COFCO Closes Argentine Edible Oil Plant

Chinese agribusiness giant COFCO International has closed its edible oil processing plant in Argentina due to the effects of country’s recession and the US-China trade war, according to Bloomberg.  “A significant reduction in local demand, unfavorable market conditions and rising idle capacity”  had led to the closure of its Legitimo plant in Lanus, Buenos Aires, COFCO said in a statement early this month. 

The plant refined soybean oil and sunflower oil. COFCO said its decision to close the refinery would allow it to focus investments on sourcing oilseeds and crushing them for export.