On March 31, Covantis, the industry initiative that aims to modernize global trade operations, announced it has received all required regulatory approvals and has incorporated as a legal entity in Geneva, Switzerland. The company is a joint initiative co-founded by global agribusiness firms Archer Daniels Midland (NYSE: ADM), Bunge (NYSE: BG), Cargill, COFCO, Louis Dreyfus Company, and Glencore Agriculture.
Three years ago, ADM still regarded COFCO as a competitor, but now they are jointly developing a platform to make global trade simple, secure, and efficient. Covantis . . .
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