July 1, 2009
Brazil's Cargill foresees 2009 growth in country
Cargill's Brazilian subsidiary forecasts growth in the South American country this year, local newswire Estado reported Tuesday (June 30).
Cargill expects to maintain growth in the Brazilian market in 2009, sustained by the recovery of credit for the country, the news report said, citing Marcelo Martins, country manager for the Minneapolis-based commodities company.
The flow of exports to China has resumed, Martins said, according to the report. Problems faced by Argentina should increase the demand for grains produced by Brazil, the Cargill country manager said. He did not specify the Argentine problems or give any figures.
Though Cargill can feel the impact of the economic crisis, it has not paralyzed spending. Martins said 70 percent of the company's planned investments to expand production capacity in Brazil are being maintained, the news agency reported.
