Agribusiness giants Archer Daniels Midland and Wilmar International have set up a venture to sell and market vegetable fats and oils in Europe.

The venture was announced alongside two other partnerships on global fertilizer and on ocean freight.

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ADM and Wilmar first teamed up in the 1990s with a series of soybean processing operations in China. ADM owns a 16% stake in Wilmar.

“Given our long association with ADM in Asia, we are confident of the efficiencies that these new global partnerships will bring to our businesses,” Wilmar chairman Kuok Khoon Hong said.

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