COFCO International, Thanakorn expand certified soybean trade in Asia
The agreement strengthens the flow of certified sustainable soybeans into Asian food and feed markets as demand for traceable supply chains continues to grow.
ASIA – COFCO International and Thailand’s Thanakorn Vegetable Oil Products have signed an agreement to expand trade in certified sustainable soybeans, strengthening responsible sourcing across Asia’s food and feed supply chains.
The companies announced the deal in Geneva on June 9, 2026. Under the agreement, they will shift most of their bilateral soybean trade into volumes certified under the COFCO International Responsible Agriculture Standard. The standard provides traceability, bans land use change from 2020 onward, and supports farming practices that protect natural resources while respecting human and labour rights.
The partnership builds on certified soybean shipments from Brazil to Thailand that began in 2025. It also reflects rising demand across Asia for sustainably sourced agricultural products. Certified soybean flows already reach China, Bangladesh, and Vietnam, while COFCO International reported a 46% increase in certified grains and oilseeds sourced from South America during 2025.
To strengthen oversight, the companies will work together on satellite monitoring and digital traceability systems. These tools will help verify sustainability performance throughout the supply chain and improve transparency from farm to processor.
For Thanakorn, one of Thailand’s largest vegetable oil and animal feed producers, the agreement provides access to responsibly sourced soybeans as buyers and regulators place greater focus on sustainability standards.
For COFCO International, the deal supports its wider efforts to integrate sustainability into global agricultural trade. The Geneva-based company employs more than 12,000 people across 36 countries and reported revenue of US$38.5 billion.
The agreement comes at a time when Asia’s vegetable oil market continues to expand. According to market data, the Asia-Pacific vegetable oil market is valued at US$216.41 billion in 2026 and could reach US$291.35 billion by 2031, growing at an annual rate of 6.13%.
Palm oil remains the region’s largest vegetable oil segment due to strong production in Indonesia and Malaysia. However, sunflower oil is recording the fastest growth as consumers increasingly seek healthier oil options.
The food industry remains the largest user of vegetable oils, while demand from biodiesel production continues to rise through government blending programmes in several countries.
Growing regulatory requirements, including demand for traceable and deforestation-free supply chains, are also shaping market growth. Some forecasts suggest the Asia-Pacific vegetable oil market could reach US$476.69 billion by 2035, with biofuels expected to account for the fastest-growing area of demand.
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