A bid by Bunge to extend its dominant role at a strategic Brazilian port's public terminal for two years has been blocked by a temporary court decision, according to documents seen byReuters.
Successful Farmingreports the decision is the latest twist in a long-running dispute between Bunge's port agent Litoral Soluções and rivals who complain it has been granted a virtual monopoly at the public terminal, which sits adjacent to two private terminals, one owned by Bunge itself and another by a local unit of Japan's Marubeni called Terlogs.
Bunge and its port agent have enjoyed almost exclusive rights to use the public area of the port thanks to a 2005 agreement that gave them nine-year preferential treatment in exchange for investments, according to public documents.
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