Brazil starts exporting soy from new Northeast terminal

Gustavo Bonato – Reuters, 7/25/2015

Two soybean cargoes have recently departed from a new terminal in northeast Brazil operated by VLI and local trader Multigrain, the latest option in the region as exporters look for alternatives to Brazil’s overcrowded southern ports.

A third ship carrying 27,800 tonnes of soy contracted by Multigrain is anchored in the Barra dos Coqueiros terminal in Sergipe state, according to shipping agencies and Thomson Reuters data.

The first known soy terminal in Sergipe will export just 150,000 tonnes of soy per year, but it is part of a broader trend to increase capacity and cut costs for exporters in Brazil by developing new shipping routes closer to the Panama Canal.

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