Perdue Agribusiness has signed an agreement to export at least 550,000 metric tons of 2012 crop soybeans to Dandong Pasite Grain and Oilseed Co. in China.
This is an expansion of the September 2011 agreement between the companies, the first shipment of which was worth about $25 million.
Perdue owns a grain export facility in Chesapeake.
The two companies also share an agronomic cooperation agreement to support Dandong’s attempts to improve animal feed stock quality through Perdue’s soybeans in Dandong’s soybean crushing and soy meal production facilities.
The agreement is part of Gov. Bob McDonnell’s strategic initiative to assist Virginia producers, agribusinesses and shippers in global expansion.
McDonnell said, “Growing exports are key to growing our economy. In the last few months alone we’ve announced a record export level reached in 2011 and new trading deals with countries around the world, some of which were initiated during international marketing and trade missions.”
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