POSCO International Corp., South Korea’s largest trading company, signed a framework agreement with Kansas City-based Bartlett & Company to expand their annual grain trading volume to 4 million tons by 2027, representing a significant scaling of their existing partnership.
The memorandum of understanding, signed Monday in Kansas City, outlines plans to diversify grain types and sourcing regions beyond North America to include Latin America and the Black Sea. The companies also intend to explore joint market entry into the Middle East, Africa and Asia, according to POSCO International.
The steel giant’s trading arm has been aggressively expanding its food business since 2015, targeting annual handling capacity of 5.5 million tons by 2025. The company operates a grain terminal in Ukraine and palm plantations in Indonesia as part of its broader agricultural strategy.
Bartlett, established in 1907 and acquired by Savage Companies in 2018, ranks among the leading U.S. grain exporters to Mexico. The 117-year-old company operates facilities across the American Midwest and processes soybeans for both food and renewable fuel markets.
POSCO International’s food business expansion comes as global grain markets face mounting supply chain pressures and geopolitical uncertainties. The company cited the need to strengthen its position in grain-producing countries to secure procurement advantages and price competitiveness in volatile markets.
