Source: APKinform (Ukraine)
COFCO, the largest trader of agricultural products in China, plans to commission a large port terminal in the Brazilian port of Santos in 2025, Bloomberg reports.
The launch of the new terminal is expected to quadruple the company’s port capacity in Brazil to 14 million tons per year (~200 ships per year). With its opening, COFCO plans to strengthen its position in the Brazilian market – increase purchases of soybeans, sugar and corn from local farmers, expand its trader staff and even acquire some enterprises. All of this is expected to strengthen COFCO’s and China’s position against looming trade tensions with the US.
“Brazil is a critical agricultural hub for our business and has unrivaled potential to be a world leader in agriculture. We are firm in our commitment to investing responsibly in Brazil,” COFCO said in a statement.
It also noted that during a November 2024 visit to Peru and Brazil, Chinese leader Xi Jinping opened a major port in Peru and signed agreements to open the Chinese market to Brazilian sesame and sorghum.