Grain trader Archer Daniels Midland (ADM) has sold its palm business in Brazil to local player Reflorestadora Moju Acará, according to the Brazilian antitrust watchdog CADE, reported Reuters.
CADE, which gave the nod to ADM’s deal, stated on the official gazette that the sale was part of a broader global portfolio review by the global trader. The deal value has not been disclosed.
ADM’s businesses in Brazil also include soy, corn, wheat, and cotton.
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