China’s embarked on a record corn-buying spree this year and some vessels have been delayed for as long as a month outside southern ports because of congestion, incurring hefty demurrage fees, reports Bloomberg.
At least two ships laden with U.S. corn had been waiting for weeks before eventually moving to berth on Thursday, according to Bloomberg vessel-tracking data.
The Priscilla carrying 71,400 tons was anchored off Zhanjiang port in Guangdong province since May 11 and the Krini, with 75,100 tons, was waiting since May 16 near Huangpu port in the same province.
China’s corn imports quadrupled in the first four months from a year earlier, while sorghum arrivals jumped five times in April from a year ago. Barley shipments are up too. The delays may add to rising raw material costs that the government is struggling to control.
