Brazil’s top soybean city seeks to lure Chinese investments in grain-crushing industry
- Sorriso mayor Ari Lafin, who hosted a presentation for potential investors in Sao Paulo, engaged in talks with China’s COFCO and US-based Cargill
- Lafin noted that while the Chinese were receptive to his delegation’s proposals, COFCO tends to prefer processing soybeans in China
The mayor of Brazil’s centre-western town of Sorriso, the world’s largest soybean producer and the country’s biggest corn supplier, said on Monday that he has held meetings aimed at attracting investments to boost the local grain-crushing industry.
Mayor Ari Lafin, who hosted a presentation for potential investors in Sao Paulo to showcase his town’s economic potential, has engaged in talks with US-based Cargill and China’s COFCO to lure investments to Sorriso, located in the country’s top farm state of Mato Grosso.
The mayor said he was expected to meet Bunge representatives on Tuesday, as his administration aims to attract companies to build four new grain crushers in the town.
On the sidelines of the meeting with investors, Lafin told Reuters a delegation that included the mayor had visited China and spoke to COFCO in 2018.
“Our objective, as public managers … is to work so that these companies not only store but can transform the products here in Brazil.”
He noted that COFCO has a crushing plant in Mato Grosso’s Rondonopolis. While the Chinese were receptive to his delegation’s proposals, Lafin said, he noted that the company tends to prefer processing soybeans in China.
Sorriso already has a soy crushing facility operated by Caramuru, a Brazilian firm, and a separate plant, owned by FS Bioenergia, to make corn-ethanol and other by-products.