Archer Daniels Midland Company announced an agreement to purchase a port terminal in the state of Pará in Brazil.
“By adding this strategically located port to our extensive logistics network in Brazil, we will increase our capacity to export grain from Western and Northern Brazil and further expand our fertilizer operations throughout the country,” said Valmor Schaffer, president, ADM South America. “This port will enhance ADM’s global reach, better connecting the Brazilian harvest to markets including Europe, the Middle East, and even Asia through the Panama Canal.”
The facility was designed to handle minerals, and ADM plans to convert it to handle bulk grains and agricultural inputs. ADM also plans to upgrade the facility to handle Panamax vessels and double its storage capacity. Once complete, the new port will have capacity to handle 3 million metric tons a year.
ADM is Brazil’s largest soybean meal exporter, the second largest exporter of soybeans and the Brazilian economy’s seventh largest exporter overall. The company currently operates in all of Brazil’s major agricultural ports and owns a port terminal in Santos, São Paulo.