Under the deal with America, deep cuts in tariffs will by made by 2004, to just 14.5% for several bulk commodities such as wheat and maize.

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The firm, which concentrates on trading oil, metals, ores and bulk commodities, may in the future consider floating Puma Energy, its rapidly expanding fuel station business.

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Such efforts notwithstanding, Josef Schmidhuber, an agronomist at the Organisation for Economic Co-operation and Development, argues that Brazil's competitive advantage lies in churning out huge quantities of low-cost bulk commodities.

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And Altra deals in bulk commodities, not consumer goods.

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Freight business includes transport of bulk mineral commodities, including iron ore, agricultural products, mining and industrial inputs and general freight throughout Queensland and Western Australia.

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The company owns and operates a fleet of 29 dry bulk carriers that transport a wide range of commodities, including coal, iron ore, grains, bauxite, phosphate, fertilizers and steel products.

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It doesn't have to import the bulk of its food, and when demand for agricultural commodities rises as incomes rise, Brazil is ready as the world's leading sugar, coffee, beef and chicken exporter.

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