According to Agriculture Minister Carlos Favaro, Brazil is seeking further investment from COFCO, the top Chinese grains trader, which has already invested in Santos, Brazil’s main soybean port, and is expanding its export terminal capacity.
During a meeting in Beijing last week, Favaro suggested investing in Brazilian railways and waterways, as well as financing the restoration of farmland.
COFCO was instrumental in opening up the corn market between Brazil and China, and has bought all 1.5 million tonnes of corn that has been shipped so far.
During his visit, Favaro secured China’s approval of four new Brazilian meat plants for export, with more expected to come.
An agreement to allow for electronic certification of meat export facilities will be signed during Brazilian President Luiz Inacio Lula da Silva’s rescheduled visit to Beijing, said Favaro.
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