August 5, 2019 / 2:21 PM / 2 months ago

COFCO plans to boost Brazil ops, sees improving business outlook

FILE PHOTO: The company logo of China Oil and Foodstuffs Corporation (COFCO) is seen at its headquarters in Beijing, China, November 3, 2016. Picture taken November 3, 2016. REUTERS/Thomas Peter/File Photo

SAO PAULO (Reuters) - Chinese commodities trader COFCO plans to increase investments in Brazilian operations as the business environment in the country is likely to improve after approval of key economist reforms, the company’s chairman Johnny Chi said on Monday.

Speaking at Brazil’s 2019 Agribusiness Congress, Chi said COFCO is looking at investments such as new warehouses and improving transportation systems in Brazil.

Reporting by Marcelo Teixeira and Ana Mano; Editing by Nick Zieminski

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