POSCO INTERNATIONAL signed a business agreement with U.S. grain company Bartlett on Aug. 18, aiming to significantly expand their grain trading partnership amid growing global food supply uncertainties.
The signing ceremony in Kansas City was attended by POSCO INTERNATIONAL CEO Lee Kye-In and Bartlett CEO Joe Griffith. Under the agreement, the companies plan to expand grain trading to 4 million tons annually by 2027.
The partnership will diversify grain types and sourcing regions beyond North America to include Central and South America and the Black Sea region. Both companies will also explore joint entry into high-demand markets across Central and South America, the Middle East, Africa and Asia.
“In the face of growing uncertainties in the global agro market, strengthening our presence in grain-producing countries is essential for securing procurement and price competitiveness,” a POSCO INTERNATIONAL official stated.
The agreement holds particular significance for South Korea, which has a grain self-sufficiency rate below 20% and relies on imports for at least 16 million tons annually.
Bartlett, established in 1907 and based in the U.S. Midwest, specializes in procurement, distribution and processing of grains including corn, wheat and soybeans.
POSCO INTERNATIONAL, which entered the agribusiness sector in 2015, plans to handle 5.5 million tons of grain in 2025, with approximately 2 million tons destined for the South Korean market.
