Soros-backed grain company eyes Trump trade in Mexican market

2/6/2017 Financial Times

cornA South American farming company backed by investors including George Soros aims to sell grain to Mexico as it capitalises on the country’s deteriorating trade relations with the US since Donald Trump’s arrival as president.

The move by Adecoagro embodies fears in the US agriculture sector that White House plans to rework the North American Free Trade Agreement could spoil a lucrative export market. The pact allows most agricultural commodities to trade freely among Canada, Mexico and the US.

The US last year sold $17.7bn worth of agricultural products to Mexico, the top destination for American corn, rice and dairy exports. Mexico buys 98 per cent of its corn imports from the US, according to International Trade Centre calculations.

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