Cofco's Rosario hub could be operational within three months

A grain storage and handling facility at Rosario could be operational again within three months following an explosion, local sources have said.

Two workers were killed and some 20 others injured in the explosion at the facility which was formerly part of Nidera and is now owned by Chinese agriculture giant Cofco.

"I think in two to three months the terminal will be operational, but it might take longer to rebuild everything," one market source said.

"There are talks that the terminal will be under repair for eight months," a second source said, with local sources saying there is little information heard from the facility's owners.

Cofco was approached by Agricensus for official comment, but no one was available.

Although owned by Cofco, the facility is used by all the main agribusiness companies. Grain and soybean volumes that were slated to move out through the facility are being rerouted to other facilities, straining some of their capacity.

Warehousing at the facility, which is 200 km up river from Buenos Aires, is said to be 295,000 mt for grains with a further 105,000 mt for soybean meal.

Operations at the nearby ADM facility, which were closed in the immediate aftermath of the explosion, are believed to have returned to normal.
 
Argentina exports around 8 million mt of soybean per year, making it the world’s third largest exporter of soybeans.
 
It is also the world’s third largest exporter of corn.