Cofco International Ltd said it is loading a bulk cargo of Argentine corn to China, in what will be the first such shipment in more than 15 years as the two countries expand agricultural trade.
The deal comes after China cleared Argentine corn imports in 2024, and as the South American nation has recently kicked off a bumper harvest. China also booked a rare cargo of Argentine wheat last year, the first shipment in decades.
The shipment of about 34,000 metric tons of corn will load at Cofco’s Timbúes port terminal in Argentina and is destined for China’s feed sector, the agricultural giant’s trading unit said in a statement Wednesday. “The cargo reflects increasing alignment between the two markets and provides an additional origin option for Chinese buyers,” Cofco said.
The two countries are maintaining a robust trade relationship under the leadership of Javier Milei, who once vowed to curb ties with Beijing if he became Argentina’s president.
South America is becoming increasingly prominent in crop trading with China. Meanwhile, no US corn has been sold to China during the current season even though exports out of the world’s top corn shipper have been on a record pace this year.
Comments