While looming tariffs are likely to curb American exports of the commodity to China, opportunities are opening up in the European Union, the world’s second-largest importer, reports Bloomberg.
The dispute has boosted prices in Brazil, the top shipper, forcing EU processors to look elsewhere for supplies. That’s likely to mean that the U.S. will overtake Brazil as the biggest seller to the 28-nation bloc next season, according to Rabobank International Ltd.
“It’s already happening,” said Pedro Dejneka, partner at Chicago-based MD Commodities. “While China concentrates its purchases on Brazil, the rest of the world turns to the U.S.”
Read the full report at Bloomberg.
