Cofco International announced that this year between July 1 and December 31, it will export sugar instead of corn from its 12a terminal in Santos (SP). Cofco increased its production of sugar in response to strong global demand for it. DataLiner data shows that Brazilian sugar exports grew by 23.4% in the first quarter of 2020 compared to the same period of 2019, totaling 3.77 million tons. The Chinese conglomerate’s terminal has the capacity to export 400,000 tons of sugar per month. According to Cofco, “this internal agreement will allow the company to optimize its export programs for agricultural commodities since there has been an increase in sugar production at Cofco International’s four plants in the state of São Paulo”. The company’s corn handling program will be executed according to the originally planned volumes, but at third-party terminals in the Port of Santos. “There will be no impact on soy exports, which the company plans to resume from January 2021 to June 2021 as usual.”
Source: Reuters/Datamar News