Covantis unveiled that over 310 million metric tons of agricultural commodities have been executed through the platform since March 2021. In 2022, Covantis captured a market share in Brazil of 70% for soybeans, corn and soybean meal.
Eighty percent of all volumes nominated by charterers have been passed through the string up to the shipper, enabling efficiency in post-trade execution processes.
Ranging over 30 agri firms across 100 legal entities, Covantis has been used for the execution of over 1,600 vessels of Brazil origin. The execution network is supported by dozens of global agri firms, as well as by local Brazilian companies such as Agraria, Agribrasil, Amaggi, ALZ, Caramuru, Coamo, Copacol, Fiagril and Nova Agri, with many joining in the last few months.
“We are looking forward to further expanding our network in order to digitalize the Brazilian agri market,” said Sorin Albeanu, head of commercial.