Itaqui Port reports positive performance despite lockdown in Maranhão

As the capital of Maranhão, São Luís, where Itaqui port is located, became the first large Brazilian city to implement a lockdown to combat the new coronavirus, the port’s president, Ted Lago, informed that the port’s performance has not been affected by the measures.  The port was responsible for exporting more than 10% of Brazil’s soy in 2019. Now, Itaqui projects a 16% increase in grain exports between January and May, to 4.3 million tons, mainly composed of soy.  It also forecasts a 65% increase in fertilizer imports during the same five-month period, to 986,000 tons, with Brazilian farmers anticipating bringing forward acquisitions for the 2020/21 harvest, according to the executive.

The increase in global demand for N95 masks amid the coronavirus pandemic was accompanied by growth in cellulose exports via Itaqui, said Lago, referring to the raw material used in the production of the equipment. More than 60 companies operate in Itaqui, including multinationals Glencore, Vale, Louis Dreyfus, and Toyota Tsusho.

Source: Reuters

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