ADM CFO: Supply Chain Can be Managed Through U.S.-China Trade Tensions
Posted by Joseph Keefe
Wednesday, May 16, 2018
Global grain merchant Archer Daniels Midland Co (ADM)feels it can manage its supply chain to adapt to China's threatened tariffs on imports of U.S. soybeans, Chief Financial Officer Ray Young said on Wednesday.
The Chicago-based company is confident the world's two largest economies will "get through" the trade dispute, and sees an opportunity for China to import additional ethanol, Young said at the BMO Capital Markets 2018 Farm to Market Conference in New York.
Beijing has threatened tariffs on imports of U.S. products including soybeans, America's top agricultural export to China, worth more than $12 billion last year.
Reporting by Tom Polansek