China-Bound U.S. Sorghum Diverted to Saudi Arabia, Japan
Three cargoes were sold at $190 a tonne delivered
Four U.S. sorghum shipments initially bound for China have been diverted to other countries after Beijing’s move last week to impose hefty anti-dumping deposits on imports of the grain from the United States, according to trade sources and Reuters shipping data.
Three of the cargoes are now sailing for Saudi Arabia after being sold to a private buyer, a U.S. trader and a Middle East-based trading source with knowledge of the matter said Tuesday. A fourth ship is heading to Japan, according to Reuters shipping data.
The three cargoes were sold to Saudi Arabia at a price of $190 a tonne delivered, trade sources said.
“That’s a pretty nice discount. It would have otherwise been about $208 a tonne landed in the kingdom,” said a U.S. export trader who asked not to be named.
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