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Marubeni Gets Right to Sell South American Grains to East Asia

Posted on: Wednesday, 30 November 2005, 12:00 CST

By Kyodo News International, Tokyo

Nov. 30--TOKYO -- Marubeni Corp. said Wednesday that France's Agrenco Group has agreed to give the Japanese trading company the right to preferentially sell South American grains to East Asia including Japan.

Agrenco Group, which handles export and import of agricultural products mainly in Europe and South America, has established networks to transport grains from inland farms to ports in South America, including Brazil.

Marubeni said the agreement with Agrenco will allow the Japanese firm to secure South American soybeans and corn for sales to China as well as Japan and increase its annual South American grain transactions to 2.6 million tons from the present 1 million tons.

Marubeni also said it has agreed to raise its equity stake in Terlogs Terminal Maritimo Ltda, a Brazilian port service provider, to 25.5 percent from the present 6.8 percent to secure a grain distribution network in Brazil.

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Copyright (c) 2005, Kyodo News International, Tokyo

Distributed by Knight Ridder/Tribune Business News.

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MARUY, 8002,

Source: Kyodo News International, Tokyo

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