Global agribusiness COFCO International has delivered its first shipment of soyabeans certified under its responsible agriculture standard to Thailand.
Loaded in Santos, Brazil, the cargo was delivered to leading vegetable oil and animal feed manufacturer Thanakorn Vegetable Oil Products Co, COFCO said on 17 July.
The company said its certified soyabeans had been verified as deforestation- and conversion-free since 31 December 2020 under Module 2 of the standard, with on-farm audits covering sustainable water management, biodiversity, conservation and ethical labour practices.
Using the mass balance chain of custody model, the COFCO standard allows greater operational efficiency and cost-effectiveness, according to the company.
Approved as in line with the European Feed Manufacturers’ Federation (FEFAC)’s Soy Sourcing Guidelines, the COFCO standard had been endorsed by the Consumer Goods Forum’s Forest Positive Coalition of Action and was also included in Brazil’s Ministry of Agriculture and Livestock (MAPA) Good Agriculture Practices Program, offering certified farmers financial incentives, COFCO said.
COFCO said it had previously supplied soyabeans certified under the COFCO responsible agriculture standard module 2 from Brazil and Argentina to other markets.
In June, COFCO International published its 2024 sustainability report, which highlighted actions it had taken on climate change, deforestation and conversion and the protection of workers.
In the past year, 99% of soyabeans the company had sourced from Brazil was verified as deforestation- and conversion-free, the report said.
The company said it had also reduced the emissions intensity of its Scope 3 forest, land and agriculture footprint by 9% for soyabeans and 14% for corn, compared to its 2021 baseline year
COFCO has made a commitment to achieve deforestation-free soyabean and corn supply chains globally and conversion-free soyabean and corn supply chains in South America by the end of 2025, in line with its Science Based Targets initiative (SBTi)-validated climate targets.
COFCO International is the overseas agriculture business platform for China’s largest food and agriculture company, COFCO Corporation, and is active in global grains, oilseeds, sugar and cotton supply chains with assets in 36 countries across the Americas, Europe and Asia-Pacific.
