Brazilian state of Bahia signs intention protocol with Chinese grain company

12 April 2011

Beijing, China, 12 April – The governor of the Brazilian State of Bahia, Jacques Wagner, signed a Protocol of Intention Monday in the Chinese capital with Chinese company Red Dragon, a subsidiary of the Chongqing Grain company, relating to an investment in the Barreiras municipal area in Bahia, according to Chinese news agency Xinhua.

The Protocol of Intention outlines the creation, in Bahia, of an industrial park for crushing grain, refining soy oil, processing soy derivatives and packaging production at a total investment of some US$200 million.

Hu Junlie, chairman of the Chongqing Grain Company, said that as well as building the facilities in Barreiras, the Chinese company also planned to supply production materials such as seeds, fertilizer and pesticides to their potential partners in Brazil.

The Chinese official said that, in 2010 China consumed 21 million tons of cooking oil and of that total, 72 percent was imported. The United States, Brazil and Argentina are the three main countries from which China imports cooking oil. (macauhub)