March 10, 2004
Brazil's Coinbra Sets Up 6th Soy Crushing Plant
Brazilian agribusiness giant Coinbra has set up a soy processing plant in Mato Grosso state. The project will expand the capacity to 10,000 m tons per day. The company has completed investments of R$267mil in the soy, orange juice and sugarcane divisions, targeting the expansion of the Chinese market.
The soy division gained R$200mil investments, R$83mil of which were dedicated to the Mato Grosso facilities and the remaining R$117mil were directed at the Jatai plant (Goias state), which increased output from 1,000 m tons to 2,000 m tons, and at Ponta Grossa's expansion (Parana state) from 2,000 m tons to 3,000 m tons.
Coinbra ranks 3rd in the agribusiness export market, following Bunge and Cargill. It registered US$1.5bil turnover in 2003, a 7.1% increase in comparison to US$1.4bil in 2002. The group has been posting a 25% increase per year in sales over the past five years. Coinbra is active in the soy and soy derivatives market as well as in coffee and processed coffee, corn, wheat, cotton (bran and oil), sugars and orange. It also plans to invest R$20mil in the planting of orange trees in Sao Paulo, R$12mil in sugarcane production and R$35mil in co-generation of electric power.