China's state-owned COFCO shipped its first large-scale cargo of Brazilian sorghum to China, the agribusiness firm said on Thursday, sending a 69,000-metric-ton batch that opens a new export channel for Brazilian producers.
The cargo left COFCO's terminal in Santos port aboard the Guoyuan 26 vessel and is expected to arrive at Nansha port in Guangzhou after roughly 45 days, the company said in a statement.
The shipment follows last year's first approvals received by Brazil to export sorghum and dried distillers grains (DDG) to China
The opening of the Chinese market creates new commercial possibilities for Brazilian sorghum and connects production to a strategic consumer market, Luiz Noto, head of COFCO's grains and oilseeds division in Brazil, said
China is a major sorghum consumer, using it primarily as animal feed and to produce baijiu, a traditional Chinese alcoholic beverage
Brazil's sorghum exports slated for August are forecast to hit over 400,000 tons, with China taking the bulk of shipments, maritime agency Cargonave recently estimated
COFCO is expected to represent four of the six vessels loading sorghum to China currently scheduled for August
(Reuters)