POSCO International Seeks to Become Top Global Grain Producer
POSCO International will become one of the world’s top 10 grain producers by 2030 by securing more farmland and building more grain processing facilities abroad.
To become the Korean version of multinational grain and livestock feed producer, Cargill, POSCO International plans to invest heavily in three strategies by 2030: securing a global raw material procurement system, establishing a stable food value chain and fostering new Ag-Tech businesses, according to the company, Thursday.
The goal is to secure 860,000 hectares of farmland, 7.1 million tons of production, and 2.34 million tons of processed products through joint ventures (JV) with farming companies in major producing countries such as Australia, North America, and South America. All of which, will amount to an area which is about 15 times the size of Seoul.
POSCO International has already established a partnership with Hancock Prospecting in Australia to secure a 250,000-hectare wheat cultivation site and plans to secure an additional 500,000 hectares of farming assets through acquisitions of superior farming companies in the Black Sea region.
Read more here.
