SHANGHAI, CHINA — Integrated supply chain solutions provider Nisun International Enterprise Development Group Co. Ltd. has entered a procurement agreement to purchase corn from Tancheng County Yuxin Grains Trading Co. Ltd. as part of its supply chain business strategy to respond to China’s national policy of rural revitalization and explore growth opportunities in the corn market.

The agreement announced April 28 was executed through Nisun’s controlled affiliate Fintech (Henan) Supply Chain Management Co. Ltd. Fintech Henan will purchase corn from Tancheng Yuxin, a company primarily engaged in the purchase and sales of grains and other agricultural products, based on orders from Xinyi Muyuan Grains Trading Co. Ltd. and deliver in batches to Muyuan’s warehouse. 

“Tancheng Yuxin has a proven track record of offering exceptional products, and we are confident that this collaboration will enable us to further enhance our supply chain services and deliver greater value to our supply chain partners,” said Xiaoyun Huang, chief executive officer of Nisun. “We look forward to a fruitful and long-lasting partnership with Tancheng Yuxin. In the future, we will continue to pursue growth avenues in the agriculture sector and play an even greater role in facilitating rural revitalization.”

With 1.4 billion people, growing corn consumption and the rapid development of China’s farming and corn processing industry, the country’s demand for corn is on the upswing, Nisun said. Despite being the second largest corn producer in the world, China is expected to import 18 million tonnes of corn in the 2022-23 marketing year and to consume 290.5 million tonnes domestically. China’s corn market is projected to register a compound annual growth rate of 3.1% from 2023 to 2028.