Corn grows in a field on a farm near Londrina, Parana state, Brazil, on Monday, May 30, 2022. Photo: Bloomberg
(Bloomberg) — China is taking steps to accelerate imports of Brazilian corn, bringing on a new supplier of the grain at a time when the war in Ukraine has disrupted trade and tensions with the U.S. are soaring.
Beijing will temporarily waive a key clause which paves the way for Brazil, the biggest exporter behind the U.S., to ship corn to China in the coming months, according to people familiar with the matter. This follows a deal in May that guarantees Brazil access to the world’s top grains market over the long term.
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