May 28, 2009
Agricultural cooperatives in Brazil's Parana state to invest BRL1 billion
Around 80 agribusiness cooperatives combined aim to invest BRL1 billion (US$497 million) in Brazil's Parana state for the new 2009-10 crop season, a press officer at Parana's cooperative organization, Ocepar, confirmed Wednesday (May 27).
Ocepar undertook research identifying poultry as a key area for expansion due to the strength of local coops in this segment and export opportunities, he said.
As a result, the largest single investment of BRL215 million will be related to poultry.
The 2009-10 crop season starts in July.
The cooperatives also intend to invest BRL255 million in storage projects as well as other areas such as IT and infrastructure.
Parana is one of Brazil's leading agricultural states. The state is Brazil's producer of soy.
