Approximately 50,000 tones of sugar stored in a warehouse operated by Cargill and Biosev at Brazil's Santos port, affected by fire in the Teag terminal, has been destroyed.
The terminal, known as TEAG sugar terminal, is a 50-50 joint venture between Cargill and Biosev, the sugar unit of Louis Dreyfus Commodities. It has a storage capacity of 110,000 tones.
A second warehouse at the terminal was not affected.
Cargill and Copersucar, Brazil's largest sugar and ethanol trader, recently combined their sugar trading and logistics assets globally.
Some of Cargill's major businesses are trading, purchasing and distributing grain and other agricultural commodities, such as palm oil; trading in energy, steel and transport; the raising of livestock and production of feed; producing food ingredients such as starch and glucose syrup, and vegetable oils and fats for application in processed foods and industrial use.
