The Argentine government has announced plans to invest approximately US$550M in building a new grain port in the country’s Rosario region, World Grain reported presidential spokesperson Manuel Adorni as saying.
The Rosario region is considered an important agricultural centre for Argentina and accounts for more than 80% of the South American country’s agricultural and agro-industrial exports, according to the 22 April report.
Work on the construction of the new port, located in Timbúes on the Paraná River, had started in March, presidential spokesperson Manuel Adorni said.
Timbúes plays a key role in getting Rosario’s maize, soyabeans, wheat and other commodities to global markets and is one of Argentina’s most important agricultural export hubs,
Located 30km outside the city of Rosario, Timbúes is also the location of global agribusiness giant COFCO International’s largest facility in Argentina.
According to COFCO’s website, the facility can unload 1,200 trucks/day, process grains and biodiesel, and store 800,000 tonnes of dry commodities.
Other companies operating grain handling facilities along the Rosario port network included global agribusiness giants Bunge, Cargill and Louis Dreyfus, World Grain wrote.
Argentina is one of the world's top leading exporters of soyabean oil and meal and the third largest corn exporter, according to an 11 March report by Seatrade Maritime News.
According to estimates by the Rosario Stock Exchange (BCR), Argentina’s 2023/2024 soyabean and corn harvests will total 49.5M tonnes and 57M tonnes respectively.
