As global food and oil prices surged, a critical challenge for China—balancing energy needs with food security—began to shift. A new solution emerged as a project aimed at producing fuel ethanol from non-food feedstocks officially launched. COFCO, a Hong Kong-listed subsidiary of the COFCO Group, announced this milestone yesterday.
The first non-food fuel ethanol plant in Guangxi Zhuang Autonomous Region has started operations, with an annual production capacity of 200,000 metric tons. This facility is expected to meet local demand for fuel ethanol and mark a significant step in China’s alternative energy strategy.
COFCO, the parent company, is China’s largest food, oil, and grain importer, exporter, and processor. In 2006, it surprised the market by launching a 10 billion yuan new energy "transition" plan. After five years, it became a leading player in China’s emerging energy sector.
The project in Guangxi began trial operations last December and has now produced 100,000 metric tons of fuel ethanol. COFCO is currently the country’s largest producer and supplier of biofuels and fuel ethanol.
Using food crops to produce fuel has long been controversial. With global food prices rising, many feared that such practices would worsen food shortages. However, COFCO's new initiative uses cassava—a non-food crop—which avoids direct competition with food supplies. This innovation represents a key move in the company’s broader strategy for clean energy.
In fact, using food-based materials for energy has not been widely supported. In 2001, the Chinese government conducted pilot projects in four provinces, producing 1 million tons of ethanol, but later imposed restrictions. Due to these policies, COFCO’s stock price fell significantly, dropping 28% from its peak.
Recently, the Chinese government reiterated its stance on controlling grain exports for industrial use and curbing unregulated corn processing. Projects violating these rules face suspension. In contrast, COFCO’s non-food ethanol project has gained strong market support. Following the announcement of the Guangxi plant’s completion, shares of China Agri Holdings rose 1.4% amid a broader market decline, closing at HK$5.2, up 1%.
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