March 19, 2008

Brazil's largest soy cooperative to invest US$107 million in grain storage

Brazilian soy cooperative Coamo intends to invest 180 million Brazilian reals ($106.7 million) to expand its grain storage capacity by 2010, business daily Valor Economico reported Tuesday (March 18, 2008).

Coamo will invest a large part of the funds in modernizing and expanding 25 storage units as well as the upgrading its logistics operation.

The cooperative, which is the largest soy cooperative in Brazil, reported BRL3.47 billion (US$2 billion) in sales in 2007, up 30 percent compared to 2006.

Brazil is the world's No. 2 soy exporter behind the U.S.