News

COFCO Intl considers buying soybean facilities in Brazil

COFCO International Ltd. is thinking about buying warehouses and other logistical facilities in the Brazilian state of Mato Grosso, Bloomberg reports.

The news agency quotes the senior COFCO International executive in South America, Valmor Schaffer, as saying in an interview: “There will be surgical investments in strategic areas.”

The report says COFCO International exported about 7 million tonnes of soybean from Brazil last year.

The company now wishes to buy more of the agricultural output of Mato Grosso direct from the farmers there, with a view to doubling its purchases in the state in the next few years, Bloomberg quotes Schaffer as saying.