Noble announced at least $2 billion of deals in the past three years as it built its sugar operations in Brazil and energy assets in the U.S. and Australia. The Hong Kong-based company last month said it was time to build the agriculture unit after shelving plans to sell shares in the business.

“We’re seeing a consolidation process in the agriculture sector and that’s going to arise very significant opportunities,” Alireza said today. Noble is considering different options including acquisitions and potential partnership with U.S. companies, he said.

Noble’s second-quarter profit rose 39 percent to $194.8 million as it posted record sales in its energy and metals units, the company said Aug. 13. The agriculture unit, Noble’s second-biggest by revenue, accounted for 17 percent of sales in the six months ended June 30, according to Bloomberg calculations. Energy is its biggest business, comprising nearly 70 percent of its sales.
Corn Importer

“China is going to be the largest importer of corn over the next few years and we want to be in the position to help supply that,” Alireza said. The Asian nation was the world’s sixth-largest buyer of corn in 2011-12, according to the U.S. Department of Agriculture. The U.S. was the top corn producer, according to the USDA.

There have been 293 announced agriculture deals in the past year, with a combined value $13.4 billion, including Glencore International Plc (GLEN)’s bid for grain handler Viterra Inc. (VT) for C$6.1 billion ($6.2 billion).

Noble will receive $800 million from asset sales in the next five months and will look at “interesting asset opportunities,” Alireza said.

“The environment is going to be a tough environment for the next 12 to 24 months,” he said. “One of things we’re making sure of is our balance sheet is strong and we’re in the position to build businesses in down markets and we see opportunities across all three of our platforms.”

Bloomberg