Company News

Dreyfus, COFCO head-to-head in Brazil soybean export rankings -data

    SAO PAULO, Jan 15 (Reuters) - French commodities trader
Louis Dreyfus Co vaulted ahead to third place in the rankings
for Brazil's biggest soy exporters in 2018, locked in a virtual
dead heat with China's COFCO, according to annual shipping data.
    Bunge Ltd continued to top the rankings, while
Cargill Inc remained in second place, according to data from
shipping company Williams compiled by Reuters.
    Brazil, the world's largest soybean exporter, shipped a
record 84 million tonnes of the oilseeds in 2018 after
harvesting its largest crop ever, with most of it going to
China. Nearly all local exporters did more business with China,
which sought to replace U.S. soy with Brazilian beans, because
of its trade dispute with the United States.
    The final standings confirm that grain handlers, which
improved logistics and farmer relationships in Brazil, reaped
rewards from the U.S.-Chinese trade war.
    "The combination of these initiatives enabled us to respond
immediately to greater Chinese demand," said Luciano Souza, ADM
grains director. 
    A Dreyfus executive said last month that those two factors
was their formula for success, helping the company notch 28.6
percent export growth.
    Increased competition between trading houses is beneficial
for soy growers as it brings liquidity to the market, noted
Bartolomeu Braz, head of soybean and corn grower group Aprosoja
    Third-ranked Dreyfus exported 10.98 million tonnes of
soybeans in 2018, just edging out COFCO, whose shipments totaled
 10.96 million tonnes, a 17.8 percent rise from the previous
    The two commodities firms unseated fifth-ranked Japanese
general trading firm Marubeni Corp, which ranked third
in 2017.
    Archer Daniels Midland (ADM) ranked sixth, staying
ahead of Singapore's Olam International, whose exports
rose 225.4 percent increase to 6.65 million tonnes, the data
    COFCO did not have an immediate comment. Bunge and Cargill
declined to comment.     
    Bunge kept its lead after increasing foreign sales of
soybeans by 9.2 percent to 17.73 million tonnes, while Cargill
raised soybean exports by 1.4 percent in 2018, to 12.15 million
tonnes, according to Williams.
    The market still remains dominated by a handful of
multinationals, said producer Elso Pozzobon, who grows soybeans
in the town of Sorriso.
    "If there is competition among them, there will be a benefit
passed on to us," Pozzobon said.
 TRADER                2018       2017       CHANGE
 BUNGE           17.737.264      16.244.640      +9.19
 CARGILL         12.156.755      11.989.733      +1.39
 DREYFUS         10.985.868       8.542.959     +28.60
 COFCO           10.964.534       9.305.858     +17.82
 MARUBENI         9.344.546       9.955.045      -6.13
 ADM              8.565.959       7.967.685      +7.51
 OLAM             6.649.238       2.043.177    +225.44
 Source: Williams

 (Reporting by José Roberto Gomes
Writing by Ana Mano)