August 2, 2019 / 3:18 AM / 2 months ago

Marubeni CFO says U.S.-China trade war weighs on its U.S. agri business

TOKYO, Aug 2 (Reuters) - The U.S.-China trade war has weighed on profits of Marubeni Corp’s U.S. agri businesses, but the Japanese trading company has no plans to change its U.S. strategy, a senior executive said on Friday.

Marubeni’s U.S. operations, which include Gavilon and Columbia Grain Trading Inc (CGTI), were also hit by bad weather in the United States, Marubeni Chief Financial Officer Nobuhiro Yabe told a news conference.

CGTI’s recent decision to halt all new soybean sales to China would have little impact on Marubeni’s overall earnings, he added.

Reporting by Yuka Obayashi; editing by Richard Pullin

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