September 29, 2022
Brazil's biggest soybean processor secures US$80 million loan linked to sustainability
Julio Costa, chief executive of Brazil's biggest soybean processor, Caramuru Alimentos, has secured a US$80 million loan linked to the company's sustainability goals, with proceeds channeled towards investment in export and production of soymeal, Reuters reported.
According to Costa, the company plans to construct a new soybean meal processing facility in the state of Goias, which will require investments totaling BRL 250 million (~US$46.79 million; BRL 1 = US$0.19).
The plant will reportedly open in July of next year and have a processing capacity of about 100,000 tonnes.
In Mato Grosso, Brazil's top grain state, the company also intends to spend BRL 75 million (~US$13.9 million) to finish a warehouse with space for 120,000 tonnes of non-GMO soymeal.
Currently providing soymeal to Norway, where customers use it in place of fishmeal, Caramuru plans to expand into the Asian and Australian markets.
This is the business's first loan that is associated with sustainability goals. Caramuru is anticipated to reduce greenhouse gas emissions and increase the supply chain traceability of the raw material as part of its agreements with banks.