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World

REUTERS
May 18, 2018

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Japan buys 3 vessels of sorghum amid China-US trade spat

TOKYO: Japanese buyers have bought between 150,000 and 180,000 tonnes of US sorghum carried by three vessels previously bound for China amid a trade spat between Beijing and Washington, five industry sources with knowledge of the deals told Reuters. The cargoes were among roughly two dozen bought by China but left stranded after Beijing announced last month it would hit US imports with a 178.6 percent deposit on the value of sorghum shipments, amid escalating trade tensions. Trading firms have been scrambling to offload the cargoes to other countries, including Spain, which has so far purchased five cargoes, and Saudi Arabia. Japanese trading house Mitsubishi Corp bought one vessel carrying about 58,000 tonnes of US sorghum, said a source who declined to be named due to sensitivity of the matter.

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