date:May 12, 2014
a deposit. This was a practice followed by rivals, though the executive and traders said its deposits were smaller.
Marubeni's Chinese business, which competes with global trading firms such as Bunge and Cargill supplying soybeans, had required a deposit as low as 3 million yuan ($482,000) for a cargo of 55,000 metric tons to 60,000 metric tons worth around $40 million at current Chinese prices, said the executive, who declined to be named due to his business relationship.
According to trader