Virginia soybeans headed for China

Virginia Gov. Bob McDonnell announced this week that Perdue Agribusiness, which owns and operates a major deep-water export terminal for grains and oilseeds in Chesapeake, has reached a new agreement with China’s Jiusan Oil and Grain Industries Group (Jiusan) to supply up to 8 million bushels of soybeans for the 2013-14 crop.

The agreement, negotiated during the governor’s April trade mission to Asia, adds significant growth to the state’s already burgeoning agricultural and forestry export business, which reached a record high of $2.61 billion in 2012.

McDonnell’s office said he and his staff organized a meeting and related discussions between Jiusan Group officials and executives from Perdue Agribusiness, where the two sides agreed to the sale of up to four Panamex vessels of soybeans from the upcoming season’s crop, which will be ready for export in October.

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