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Mitsubishi to Take Control of Brazil’s Ceagro for Grain Supplies

All grain points to Asia: Mitsubishi graphic illustrating global grain plans. Click on the image to see it full-sized.

All grain points to Asia: Mitsubishi graphic illustrating global grain plans. Mitsubishi is part owner of Kalama Export. Click on the image to see it full-sized.

Mitsubishi Corp. will take control of grain supplier Los Grobo Ceagro do Brazil S.A. as Japan’s biggest trading company seeks to boost corn and soybean supplies to meet Asian demand.

A Brazilian unit of Mitsubishi will purchase 60 percent of Goiania-based Ceagro to raise the Japanese company’s stake to 80 percent, it said today in a statement. The Japanese company will spend 50 billion yen ($497 million) to raise its stake in Ceagro, the Nikkei reported June 1, without saying where it got the information.

Mitsubishi is targeting grain producers in North and South America and Australia to help meet demand in Japan, China and southeast Asia, it said in the statement.

More at Bloomberg

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