UPDATE 2-Trafigura pleads guilty, agrees to pay about $127 million to settle US probe

(New throughout with details from DOJ statement)

March 28 (Reuters) - Commodity trader Trafigura has agreed to pay about $127 million to resolve a probe into bribes paid to Brazilian officials to secure oil contracts, the U.S. Department of Justice and the firm said on Thursday.

Trafigura Beheer BV, the parent company of Trafigura Group during the relevant period, has agreed to pay a criminal fine of $80.5 million and forfeit another $46.5 million after pleading guilty to a conspiracy to violate the Foreign Corrupt Practices Act, according to statements from the company and the DOJ.

The deal resolves a long-running investigation by the DOJ related to a scheme by Trafigura to pay bribes to Brazilian officials to secure business with state-owned oil company Petroleo Brasileiro SA (Petrobras).

Trafigura said in December it was setting aside $127 million to cover a possible DOJ fine to end a probe into "improper payments" by the company in Brazil.

The resolution marks the latest in a series that has seen the U.S. government levy steep fines against the world's top commodity traders over corruption. Earlier this month, Gunvor agreed to pay $662 million to settle a similar probe. Glencore, Freepoint Commodities and a Vitol subsidiary have paid fines and settled similar charges.

Traders who buy and sell raw materials often operate in jurisdictions where corruption is common, putting them at risk of violating the FCPA, which prohibits paying bribes to foreign officials. (Reporting by Chris Prentice in New York and Anjana Anil and Ashitha Shivaprasad in Bengaluru, Editing by Rosalba O'Brien)