Liu Hui
China Grain Reserve Group and COFCO Group have different functional orientations. This cooperation at the equity level will enable both parties to focus more on their main business, effectively improve market regulation capabilities, improve grain resource allocation efficiency and anti-risk capabilities, and provide stable and reliable supply chains for the grain and oil industry chain. The basics.
A few days ago, the signing ceremony of the equity cooperation agreement between China Grain Reserve Group and COFCO Group in the field of storage and processing was held in Beijing.
Through equity cooperation, the two central enterprises will establish a joint venture company for grain storage business controlled by China Grain Storage Group and a joint venture company for oil and oil processing controlled by COFCO Group, which is conducive to promoting the concentration of grain resources in advantageous enterprises and main enterprises.
Food security is the "bigger of the country".
China Grain Reserve Group and COFCO Group have different functional orientations. my country Grain Reserve Group is a public welfare enterprise, which can be described as the largest granary in my country. Engaged in business operations such as grain processing and trade.
Over the years, the two major grain companies have maintained a good and extensive cooperative relationship. The policy-based approach of China Grain Reserve and the market-oriented approach of COFCO are "two-wheel drive", making important contributions to ensuring food security together.
In the cooperation at the equity level this time, COFCO will focus more on the reserve business, and COFCO will focus more on market-oriented operations, strengthen and optimize the main business of grain and oil, and effectively improve market regulation capabilities.
This move is conducive to improving the allocation efficiency of grain resources and the ability to resist risks, and provides a stable and reliable foundation for the supply chain of the grain and oil industry chain.
A detailed study of the equity-level cooperation between China Grain Reserve and COFCO is actually an important measure for my country to promote the separation of central reserve business from commercial operations and to strengthen the management of central grain reserves.
After years of development, my country has established a government grain reserve system with central and local reserves as the mainstay, which has played an important role in emergency disaster relief, supply and price stabilization, and national food security.
However, my country's government reserves have the problem of "one-shoulder" between the reserves and operation of the enterprise that undertakes the storage. This operation mode has advantages and disadvantages.
The advantage is that storage companies can quickly convert grain reserves into end-use consumer goods through processing operations, reduce intermediate links, quickly put them on the market, and improve the efficiency and ability to serve macro-control.
The disadvantage is that there are many hidden dangers, high risks, and difficult supervision, which increases the risk of reserve safety, affects the fair competition in the market, and easily makes the storage companies fall into the disputes of "competing with private enterprises for profits".
Under the intertwined epidemic situation of the century and the changes of the century, the international grain market situation is complex and changeable, and the security of grain reserves is particularly important, especially the central grain reserves must not have any mistakes.
However, the withdrawal of China Grain Reserves from the operating business will affect the regulation of my country's grain and oil terminal market, thereby affecting the national food security?
It should be seen that the grain and oil processing link is the key to grasping the pricing power of grain and oil products.
Affected by the sharp rise in global vegetable oil prices last year, the production and operation costs of domestic edible oil processing enterprises have increased, and some domestic grain and oil processing enterprises have raised prices for terminal edible oil products, which has attracted social attention.
One of the commendable things about this cooperation is that COFCO Group is expected to become the largest oil and oil processing enterprise in China through this equity cooperation.
It is worth noting that in recent years, the investment scale of the four major international grain merchants in my country has continued to expand. On the basis of vigorously developing oil and oil processing, they have vigorously developed grain processing industries such as wheat and rice in the main producing areas.
Although there are many grain processing enterprises in my country, most of them are not competitive enough to compete with multinational grain merchants.
Although COFCO has become one of the largest multinational grain merchants and ranked first among global grain companies in terms of revenue last year, there are still significant gaps in profitability, the competitiveness of the grain industry chain and the right to speak in the global grain industry.
It is a general trend to separate the policy functions and operating business of grain reserve enterprises, but it cannot be divided.
While promoting this work, the state should also speed up the cultivation of a number of large grain and oil processing enterprises, so as to firmly grasp the pricing power of domestic grain and oil terminal products, form a certain right of discourse and pricing power in the international market, and better guarantee the national grain security. .