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Brazil's top grain terminal resumes partial loading

Monday, 20 February 2012 | 00:00
Brazil's TGG said it will resume loading soybeans, meal and corn at half capacity, ending a five-day interruption to exports from the main grain terminal in the country that should lead the world in soybean exports this year.
TGG expects to resume loading grain from two of its four grain loaders at 8 p.m. Brasilia time (2300 GMT), the company said in a statement. Each of its loaders can move 1,500 tonnes of dry bulk grains an hour.
Last year TGG moved 5.8 million tonnes of soybeans, meal and corn.
Late on Monday, the dry bulk carrier MV Milagro, under the Maltese flag, knocked into the water one of the four grain loaders at the Guaruja Grain Terminals (TGG) complex at Santos, Latin America's largest port.
The terminal's sole berth had stopped receiving ships five days ago, while the wreckage of the No. 4 loader was being removed. The adjacent No. 3 loader may have suffered damages from the accident. Officials at the company were not available for comment.
Brazil, expected by the USDA to displace the United States as the world's top exporter of soybeans this year, started harvesting a 70 million-tonne soy crop and a corn crop forecast at 60 million tonnes several weeks ago. The flow of the grains through the ports is picking up and normally peaks in April.
TGG grain terminal began operations in 2007 and its main stakeholders are the local railway operator America Latina Logistica, Brazilian soybean giant Amaggi and multinational commodities processor Bunge Ltd.
Santos with its two main grain terminals TGG and TEG moved 8.9 million tonnes of soybeans, 3 million tonnes of meal and 4.6 million tonnes of corn last year. TEG was unaffected by the accident.
Santos is one of the main corridors through which Brazil's grain exports of soybeans and corn flow. It is also a main artery for the export of sugar and coffee but through other parts of the port that were unaffected by the accident at TGG.
The port accounts for about 30 percent of Brazil's exports of soy and corn. Brazil should export about 33 million tonnes of soybeans this year, according to the grain crushing industry, and 10 million tonnes of corn exports has been typical over the past few years, making it the third biggest exporter of corn.
Source: Reuters
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