China's biggest food company says it views Australia as "an important region" for expansion as it manages its tough transformation from a Chinese state-owned enterprise to a genuine multinational corporation. 
Cofco president Patrick Yu told The Australian and Visy's Global Food Forum in Melbourne that Australia was "a crucial area for Cofco's global operations".
"Cofco sees Australia as a place where it could complete its coming overseas layout," Mr Yu said.
In 2014 Cofco made its biggest steps on to the global stage with a $US2.7 billion deal to acquire Dutch grain trader Nidera and 51 per cent of Noble Group's agriculture unit.
These operations in Australia have been renamed Cofco Agri Australia. In 2011 Cofco paid $145 million for Tully Sugar in Queensland, which supplies 10 per cent of Australia's annual sugar crush.
Co-head of Cofco Agri Australia Bruce Li told the forum that Cofco had worked on upgrading the Tully facilities and technology and its relationships with growers.
"It's a really good, healthy business now, so it's very (pleasing) to get a result here with the help of the industry," he said.
As a Chinese investor at a time when there has been some backlash against Chinese ownership of Australian agricultural assets, Mr Li said Tully had received nothing but strong support from the local community.
"I will say: so far, so good. I think, you know, all the business is very healthy," he said.
"We have the co-operation of the growers here.
"And we hope that we can build a direct link between the Australian growers to the Chinese consumers." Mr Yu said the biggest challenge for an SOE like Cofco to become more market-oriented was people.
"The biggest challenge for Cofco is the globalisation of its talent. It requires Cofco to have a globalised team with a global perspective, global insights and international management schemes," he said.
In 2014 Cofco signed a memorandum of understanding for an Asian Food Partnership with the Global Foundation. It set the terms and understanding between the two for mutual co-operation in contributing to an Asian Food Partnership and to global food security.
Global Foundation secretary-general Steve Howard told the forum that some positive Cofco business announcements affecting Australia were likely in the near future."For those who have wanted for a long time to see manufacturing and food processing reinvigorated in this country, I think Cofco can be a part of that leadership of seeing Australia as a valuer adder, as well as a source of raw materials," he said.