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Glencore Woes Could Spawn Chinese Rival to ABCD Glencore’s decline could hand China a bigger share in the global agricultural commodities trade. In its debt-reduction plan, the commodities group said it could raise $2B through disposals, including from its agriculture arm. It has reportedly hired banks to hawk a stake in the division. Any interest will likely come from China, says Andrey Sizov at SovEcon, citing a government-backed expansion drive that has seen Chinese firms buy up agricultural assets. One potential suitor is state-owned China National Cereals, Oils & Foodstuffs Corp. “If it’s Cofco than we clearly see a new agribiz giant, comparable to ABCD,†Mr. Sizov says. ABCD denotes four firms--ADM, Bunge, Cargill, Dreyfus--that dominate global trade in agricultural commodities.
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