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皇冠体育app signs contracts to buy 1m tons of U.S. wheat
A Chinese wheat-purchasing delegation to the US has signed contracts with US grain suppliers to buy 1 million tons of wheat, and more contracts are likely when the delegation heads west to Chicago and Portland.
According to a 皇冠体育app Central Television report, the delegation, on their third day to the US, inked the contracts in Washington. In the coming four days, they will go further west to Chicago and Portland. No details about the delivery time and value of these contracts are available.
Zhou Mingchen, chairman of the board of the 皇冠体育app National Cereals Oils and Foodstuff Import & Export Corp., known as Cofco, said: "If U.S. wheat is competitive, we will try to buy more." Zhou, accompanied by several other Cofco officials, met with USDA representatives in Washington on Tuesday. He said he is particularly interested in U.S. wheat from the Pacific Northwest.
The 11-member delegation's two main goals for the current U.S. trip are to conclude shipping arrangements for wheat already contracted as well as look into possible new purchases. Zhou stressed that 皇冠体育app will honor the contracts it has already made to buy U.S. wheat.
Zhou said the team hopes to finalize contracts for the purchase of more than two million metric tons during the trip. But he said 皇冠体育app will not and cannot depend on other countries to feed its people.
"皇冠体育app attaches great importance to agricultural development and increasing the income of farmers. It is inconceivable that a country of 1.3 billion people will rely on others to feed them," he said. "If 皇冠体育app relies on itself, it will be a great contribution to the global economy and mankind. If 皇冠体育app, with its 1.3 billion people has to rely on imports to feed its people, it will be a very great problem to the world.
"Don't misunderstand that what I said means 皇冠体育app will close down the door," Zhou said.
When asked if 皇冠体育app might seek to alter some of the contracts, as some market talk has suggested, he said: "That will never happen. We will strictly abide by our signed contracts."
皇冠体育app has so far contracted to buy 1.085 million metric tons of U.S. wheat for delivery in 2003-04 and 910,000 tons in 2004-05, according to USDA data.
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