COFCO Engineering & Technology Co Ltd

The Director-General of the Department of Foreign Trade revealed that negotiations for rice sales with COFCO Corporation, under the Chinese government's government-to-government (G to G) contract, totaling 500,000 tons, are progressing steadily. Most recently, COFCO expressed interest in purchasing an additional 60,000 tons, and the department has offered competitive prices and is pushing to conclude the negotiations quickly. Previously, 40,000 tons had been delivered from the outstanding 280,000 tons under the original contract, with payment already received. On August 5, the Cabinet resolved to expand the trade volume by an additional 220,000 tons, bringing the total to 500,000 tons. If the price for the 60,000 tons is agreed upon and delivered, it will help absorb excess supply and raise paddy prices, as well as support Thai rice exports to reach the target of 7 million tons. The department will expedite contract amendments to be completed within this year to accommodate the increased volume.

COFCO Engineering released its 2026 interim report. Total operating revenue was 1.211 billion yuan, up 14.68% year on year. Net profit attributable to the parent company was 87.5509 million yuan, up 3.82% year on year. Net cash flow from operating activities was negative 442 million yuan. The asset-liability ratio was 48.81%, gross margin was 23.77%, return on equity was 3.78%, and diluted earnings per share was 0.17 yuan. The number of shareholders was 19,800, and the top ten shareholders held 57.28% of total share capital.

The Ministry of Commerce has revealed that although Thai rice exports in the first half of 2026 declined, the full-year target of 7 million tonnes remains intact, supported by rising import demand to stockpile reserves in response to the El Niño phenomenon. Mrs. Arada Fuangtong, Director-General of the Department of Foreign Trade, stated that in the first six months, Thailand exported approximately 3.28 million tonnes of rice, down 18.81 percent, worth over 1.911 billion US dollars, a drop of 20.51 percent from the same period last year, due to high global rice supply and price competition, as well as a halt in exports to Iraq since March. The department sees potential in alternative markets such as Malaysia, the Philippines, South Africa, the Democratic Republic of the Congo, and Mozambique, where imports from Thailand have increased, and will accelerate government-to-government rice trade negotiations with COFCO of the Chinese government, while leading a delegation to meet key importers in the Philippines and Malaysia between August 2 and 6 to push exports toward the target.