March 8, 2024

Sorriso, Brazil mayor pursues investments to boost grain-crushing industry

The mayor of Sorriso, Brazil's prime soybean producer and major corn supplier, revealed plans to court investments aimed at enhancing the local grain-crushing sector, South China Morning Post reported.

Mayor Ari Lafin hosted an investor presentation in Sao Paulo to highlight Sorriso's economic prospects and engaged in discussions with global giants like Cargill from the US and China's COFCO to entice investments to the town nestled in Mato Grosso, Brazil's leading agricultural state.

Lafin disclosed that he was scheduled to meet with representatives from Bunge on Tuesday, as part of the municipal administration's efforts to entice companies to establish four new grain-crushing facilities in Sorriso.

During discussions with investors, Lafin revealed that a delegation, including himself, had visited China in 2018 and engaged with COFCO. While the Chinese showed interest in Sorriso's proposals, Lafin acknowledged COFCO's preference for soybean processing in China.

Sorriso presently hosts a soy crushing plant operated by Brazilian firm Caramuru, along with a separate facility owned by FS Bioenergia, specializing in corn-ethanol production and other by-products.

Regarding potential investment from Cargill, Lafin mentioned that the proposal is currently being evaluated. He noted Cargill's existing crushing plant in Primavera do Leste and expressed optimism about their interest in Sorriso.

As for Bunge, Lafin aims to persuade them to establish a soy crushing unit in Sorriso, leveraging their extensive grain storage facilities in the region. Lafin revealed that Bunge had initially planned a crushing facility in Sorriso but later shifted it to Nova Mutum.

-      South China Morning Post