financetom
Business
financetom
/
Business
/
Cargill, LDC among winners of Brazil port auction
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Cargill, LDC among winners of Brazil port auction
May 25, 2025 10:24 PM

SAO PAULO, April 30 (Reuters) - Cargill, BTG Pactual

Commodities and a consortium formed by Louis Dreyfus and

Brazilian grain trader Amaggi have won rights to operate three

separate terminals at Paranagua port on Wednesday.

The competitive auction, which involved several bidders,

highlights the importance of improving Brazilian logistics in

the context of a global trader war.

At an auction at the Sao Paulo Stock Exchange, the companies

offered a combined 855 million reais ($151 million) for the

rights to operate three separate Paranagua areas for 35 years.

The interest comes as global grain traders brace to deal

with more demand for Brazilian agricultural commodities from

countries like China, which is engaged in a trade war with the

United States.

After the auction, the company's are expected to increase

the volume of Paranagua's vegetable bulk shipments by 4.8

million tons by year, representing a 47% gain, the Port's press

office said.

Cargill beat Arco Norte Infraestrutura e Logistica with a

bid of 411 million reais for the PAR 15 terminal, the highest

amount at the auction.

Paulo Sousa, president of Cargill in Brazil, said in a

statement the company is pleased to have won rights to operate

that terminal for another 35 years.

Paranagua is strategically located to receive products like

soymeal from Cargill's first soy processing unit opened in

Brazil, which is based in Ponta Grossa and just 214 kilometers

(133 miles) away from the port.

The ALDC consortium, comprised of Louis Dreyfus Company and

Amaggi, won the PAR25 port area.

In a statement, Amaggi and Dreyfus said they are committed

boosting shipments through Paranagua, one of Brazil's key grain

export hubs along with Santos port.

Total investments in the three port terminals are expected

to reach 2.4 billion reais ($423 million), according to data

from the Brazilian federal government.

($1 = 5.6781 reais)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Yalla Group Q3 Non-GAAP Earnings, Revenue Increase
Yalla Group Q3 Non-GAAP Earnings, Revenue Increase
Nov 11, 2024
05:51 PM EST, 11/11/2024 (MT Newswires) -- Yalla Group ( YALA ) reported Q3 non-GAAP earnings late Monday of $0.24 per diluted share, up from $0.21 a year earlier. Analyst estimates for EPS were not available for comparison. Revenue in the quarter ended Sept. 30 rose to $88.9 million from $85.2 million a year earlier. Two analysts in a Capital...
Sonoma Pharmaceuticals Gets FDA Clearance for Hydrogel Wound Treatment
Sonoma Pharmaceuticals Gets FDA Clearance for Hydrogel Wound Treatment
Nov 11, 2024
05:39 PM EST, 11/11/2024 (MT Newswires) -- Sonoma Pharmaceuticals ( SNOA ) said late Monday the US Food and Drug Administration has granted a new 510(k) clearance for its Microcyn technology-based hydrogel for wound treatment. The clearance allows the product to be used, under the supervision of a healthcare professional, for wounds associated with dermal irritation, sores, injuries and ulcers...
Momentus Shares Moved Higher On Monday: What Happened?
Momentus Shares Moved Higher On Monday: What Happened?
Nov 11, 2024
Shares of Momentus Inc. ( MNTS ) traded higher on Monday, adding to gains of nearly 17% over the past week. The momentum appears to be linked to political developments. Here’s what you need to know. What To Know: Several space stocks are rallying following Donald Trump’s victory in the 2024 presidential election last week. Trump is expected to support further advancements...
Singapore's Grab raises annual revenue forecast, shares jump
Singapore's Grab raises annual revenue forecast, shares jump
Nov 11, 2024
(Reuters) - Singapore's Grab Holdings ( GRAB ) raised its forecast for fiscal 2024 revenue on Monday, as it anticipates robust growth in its food delivery and ride-hailing businesses. U.S.-listed shares of the company jumped over 10% in extended trading. The company expects revenue in the range of $2.76 billion to $2.78 billion, compared with its prior projection of between...
Copyright 2023-2026 - www.financetom.com All Rights Reserved