Caramuru captures $ 220 million

The Caramuru Foods, one of the largest grain processors of national capital, closed the hiring of a $ 220 million financing with a group of 15 banks led by Rabobank, of Dutch origin. As reported to the company, the operation is a pre-payment of exports with discharge period fixed at four years. The fees involved were not revealed.
According to Cesar Borges de Sousa, Vice President of Caramuru, the resources will be used to strengthen the capital, but also "will support" the investments. The main ongoing project is the installation of a soybean crushing plant in Ipameri, Goiás, where there is already a biodiesel plant. The company also leased in 2012, for ten years, a soybean processing plant in Smile, Mato Grosso, and invested in improvements.
Together, the two projects-that also rely on financing from BNDES-, 61% increase in the soybean processing capacity of the company, to nearly 2 million tonnes per year. The Caramuru also has soy processing units in Itumbiara, where is its headquarters, and in the São Simão. Both cities are located in the State of Goiás.
It's the third year in a row in which the company resorts to an international fundraising operation together with groups of banks led by Rabobank to strengthen its working capital and promote investment. In 2011, the funding was $ 140 million; last year, $ 203 million. "This year, there was demand for $ 495 million, a sign that the company is well," said Shah to the value.
The Executive recognizes, however, that 2013 "is not the best year in the company". According to him, the logistical problems that have marked the draining of grain production of the crop 2012/13 in the first half of the year have damaged operations, as well as sharply higher the derived freights of those problems. The new law of the Teamsters also collaborated to endear the transport and pushing the company's profit margins.
Despite these obstacles, Shah predicts that the billing of Caramuru will reach $ 3.3 billion in 2013, up from the $ 3,033 billion last year. Still no estimates for next year, but, with the new soybean processing units, the company hopes to increase its grain origination, with impacts on the results. As there are signs of falling prices of grains in 2014, it is difficult to know whether the additional volume will compensate or not the possible casualties.
In 2013, the Caramuru originated a total of 2.55 million tons of grain, mostly soy and corn-40 thousand tons of sunflower-, same level of 2012. Also produced 235 thousand tons of biodiesel, also stable volume. About 60% of the soybeans purchased from producers this year was not transgenic, whose awards on the modified grain, pulled by demand from Europe, Japan and South Korea, reached 10%. It was almost all transgenic maize.
Cesar Borges de Sousa also stressed that the final consumer products of the company, such as vegetable oils (soybean, corn and sunflower) sold Brazilian retail should basically render revenue between $ 500 million and $ 600 million in 2013. The total turnover in the domestic market, which includes final consumption products, will represent roughly half of the total estimated cost.
To diversify its operations, Caramuru has made a project of solar power generation to the joint action plan Innovates energy, which has the support of Finep, BNDES and Aneel. If it is in fact adopted, investments in venture tend to exceed $ 30 million.