Cofco International Ltd. has already overtaken some of the world’s oldest agricultural traders to become one of the biggest shippers of soybeans in Brazil, the top exporter. Now, the Chinese food giant is considering acquisitions that would extend its position even further.
The company is looking into buying warehouses and other facilities related to logistics deep in Brazil’s agricultural heartland, according to Valmor Schaffer, Cofco’s head for South America.
"There will be surgical investments in strategic areas," Schaffer said in an interview at Cofco’s regional headquarters in Sao Paulo. Most of the spending will be in Mato Grosso, Brazil’s top soybean state that accounts for a quarter of the country’s total output.
The company is looking into buying warehouses and other facilities related to logistics deep in Brazil’s agricultural heartland, according to Valmor Schaffer, Cofco’s head for South America.
"There will be surgical investments in strategic areas," Schaffer said in an interview at Cofco’s regional headquarters in Sao Paulo. Most of the spending will be in Mato Grosso, Brazil’s top soybean state that accounts for a quarter of the country’s total output.
Cofco exported about 7 million metric tons of soybeans from Brazil in 2017, including shipments also made by companies recently acquired by the Chinese group, according to line-up data from Williams, a Brazilian shipping agency. That’s jumped from 2.4 million tons in the previous year. The figures only account for shipments where the exporting agency was disclosed, putting the nation’s total at 67.7 million tons last year. Brazil’s grain exporter group Anec pegs the total at 68.3 million.
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