September 26, 2018 / 10:40 AM / 3 months ago

Sierentz opens palm oil trading desks in Singapore, Sao Paulo

PARIS, Sept 25 (Reuters) - Sierentz Global Merchants, a commodities trading firm controlled by members of the Louis-Dreyfus family, has opened palm oil trading desks in Singapore and Sao Paulo, expanding its reach beyond its initial focus on European and Black Sea grains.

Sierentz, which is separate from global trader Louis Dreyfus Company (LDC), has hired at least two people in each office, focusing on the palm and lauric oil markets, according to their LinkedIn profiles. LDC is majority owned by other family members.

Sierentz was not immediately available to comment.

Official registries showed that Sierentz Global Merchants Asia was registered in May in Singapore.

A source close to the matter confirmed separately that Sierentz had opened an office in Sao Paulo.

The family holding launched the grains trading business last year, poaching LDC’s head of grains David Ohayon and a group of his traders who had left the agricultural major after differences of opinion with the company’s management.

Headquartered in Geneva, Sierentz Global Merchants was initially due to focus on the origination, handling and merchandising of grains and other agricultural products from the Black Sea region, Ohayon had said.

Sierentz sold its North American natural gas wholesale trading business to Commodities and natural resources investor Pinnacle Asset Management this year.

Sierentz is the name of a town in eastern France where the founder of LDC, Leopold Louis-Dreyfus, was born. (Reporting by Sybille de La Hamaide Additional reporting by Marcelo Teixeira in Sao Paulo Editing by Edmund Blair)

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