After recently adding corn trade flows, soybean meal is the new commodity that is executed in Covantis platform. Trading firms can now exchange in Covantis platform contractual notices, documentary instructions and documents related to soybean meal shipments. Covantis is already mapping strings of buyers and sellers involved in the Brazilian physical and paper market.
Additionally we are happy to announce that Agraria, Caramuru and Cefetra, 3 very active participants in the Brazil soybean meal market, have recently signed-up to join the platform. According to ANEC 2020 data, the firms setup in Covantis, represent close to 80% of the volumes shipped and chartered out of Brazil.
We are excited to support our clients in the execution of this new commodity and to expand our network further, while continuing to grow the value we offer to our customers.