Soybeans Held at Brazil Ports Boost Prices in China, Wilmar Says
This article is for subscribers only.
Soybean deliveries of about 7 million metric tons are held up at ports in Brazil, poised to be this year’s largest exporter, pushing up prices in China, Wilmar International Ltd. said.
“Everybody is having delays,” Kuok Khoon Hong, chief executive officer of China’s largest supplier of cooking oils, said in an interview today in Singapore, where the company is based. “That’s why prices in China are very strong, because of the bottlenecks. About 7 million tons are waiting.”