The cause of the accident is not yet known. Reuters noted that the blast has affected shipping activities at the terminal.

The grain processing plant is located in Rosario, on the Parana River in Santa Fe province.

The terminal was previously owned by Nidera Capital B.V. In February, COFCO acquired the remaining minority stake in Nidera and took 100% ownership.

In South America, COFCO International operates warehouses and elevators across Brazil, Argentina, Uruguay and Paraguay, sourcing oilseeds and grains directly from the source, with two export elevators in Argentina, and barge loading facilities in Paraguay and Brazil.