China’s largest food processor and manufacturer COFCO has announced that its Brazilian branch has secured a 25-year lease for a new bulk terminal in the Port of Santos.
Due to be operational in 2025/2026, the STS11 terminal will expand COFCO International Brasil’s port capacity in Brazil to 14M tonnes and help expand exports from the country, according to the company.
As part of the agreement, the Brazilian branch would invest in the modernisation and expansion of the terminal facilities, COFCO said in a 30 March statement.
“The investment will provide farmers with more choices and create new opportunities for COFCO International Brasil SA to cooperate with local industry partners and logistics companies.”
COFCO – which sources, stores, processes and exports grains and oilseeds worldwide – said 60% of its grains and oilseeds originated in South America. It has facilities for storage in Brazil, Argentina, Uruguay and Paraguay; barge-loading in Paraguay; and export at Rosario port in Argentina and Santos port in Brazil.
The Brazilian branch sourced agriculture commodities from more than 7,000 farmers and actively supported the development of a fully traceable and conversion-free soyabean supply chain, the company said.
The Port of Santos in the state of São Paulo, is one of the largest and busiest ports in Latin America and is a key export port for Brazilian soyabeans.