Marubeni, Brazil's Amaggi Strike Deal for Import of Crops to Japan and China
Kyodo News International (Tokyo, Japan) -- TOKYO -- May 1, 2009 -- Trading giant Marubeni Corp. said Friday it has concluded a cooperation deal with leading Brazilian agri-food company Amaggi Exportacao e Importacao for the procurement of soybeans, corn and other grains to enable stable supplies for Japan and China.PAID ADVERTISEMENT
The agreement is aimed at securing stable supplies of the farm products without relying on major U.S. agri-food companies, Marubeni sources said.
Amaggi owns 215,000 hectares of proprietary farmland on which it grows non-genetically modified soybeans. It also has extensive procurement routes through which it secures products from farming households situated near its farms.
The two companies are aiming to increase the annual volume of non-GMO soybeans and other grains like corn that they will jointly procure to 1 million tons in 2010, a volume equal to 3 percent of Japan's annual imports of the products, Marubeni said.
Brazil is the world's second-largest producer of soybeans.
Amaggi is keen on tapping the Japanese and Chinese markets by teaming up with Marubeni, given that its shipments to the European market have leveled off, the sources said.
(c) 2009 Kyodo News
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