Friday, 27 April 2018 11:11

US grain shipments in limbo

507 grain


Ships laden with more than 1.2m tonnes of US sorghum bound for China may have no where to go amid the ongoing trade tensions between Beijing and Washington. Twenty ships carrying more than $216m worth of sorghum were at sea today, according to Reuters, but least five of them had changed course within hours of China’s announcement this week that it would place stiff tariffs on the grain.  China’s ministry of commerce said it would begin requiring deposits of 178.6% of the value of grain shipments. The five diverted sorghum ships, all loaded in Texas, would have had to pay that deposit, rendering their shipments unprofitable.

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