Trust, cultural understanding and investment in local communities are the strategic factorsfor Asian businesses to succeed in Latin America.
Olam International is a global commodity trader, which operates as an integrated supply chain manager and processor of agricultural products and food ingredients. They supply cocoa, coffee, cashews, sesame, rice, cotton and wood products across 16 platforms in 65 countries. For over a decade, Olam has been established in Latin America and it has direct presence and operations in 11 countries ranging from Mexico to Brazil. “Most of our businesses are export-based, but include local procurement of raw materials, processing, logistics management, and exports to international customers around the world”, explains Juan Antonio Rivas, Senior Vice-President and Head of Olam International Limited's Central America and Andean Region. In addition, they have also selectively invested in agricultural productions such as dairy farming in Uruguay, peanut production in Argentina, and a newly commissioned capsicums grinding facility in Peru. Rivas explains that they are connecting with Latin America through their investments in the region and selling their products produced there to Asian Customers.