Suzano is the largest paper and pulp company in Latin America and is considering selling its products to China priced in yuan.
Suzano Chief Executive Walter Schalka spoke in an interview with Bloomberg:
- smaller customers in China are requiring deals linked to the renminbi (China accounts for 43% of Suzano’s pulp sales)
- the greenback remains dominant, but the use of the renminbi in contracts is increasing
- Schalka said he believes the dollar will become less relevant, but acknowledged there had not yet been a “major transition” to China’s currency
Bloomberg is gated.
One for the de-dollarization folks!
