Chinese trader Cofco and other foreign players are interested in helping Brazil recover degraded farmland and reduce the carbon footprint of agriculture in one of the world's largest food producers, said Carlos Augustin, special adviser to Brazil's Agriculture Ministry.
Augustin told Reuters that Cofco expressed interest in the proposal during business meetings in late March, ahead of President Luiz Inacio Lula da Silva's"They have every interest," said Augustin, adding that a Cofco delegation is expected for talks in Brasilia next month. "It would be a chance to multiply grain production and guarantee supplies."
After talks with the Brazilians in Beijing, Cofco Chair Lyu Jun expressed optimism for the future of cooperation talks, according to an agriculture ministry statement on March 24. He did not elaborate. A new model for public-private partnerships with foreign companies is still under discussion, said Augustin, which may involve Brazil's development bank BNDES or direct contracts with farmers. One version would have farmers guarantee sale of their production to the companies that finance land recovery, he said.
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