Logistics company CLI, who operates one of the largest agricultural commodities export terminals in Brazil, projects to ship around 15% more grains and sugar in 2024 due to increased demand from commodities traders and mills. According to the company’s director of operations, Luis Neves, sugar shipments will likely grow more than 1 million metric tons this year to up to 9.5 million tons, while grains loadings are estimated to increase 1 million tons to 6.5 million tons. Neves said that the company reported a monthly loading record in February at 1.3 million tons, with sugar making up 900,000 tons of that amount. Neves said that basically all of CLI’s loading capacity for 2024 has already been booked by traders, mills and co-ops.
Source: Nasdaq/Datamar News