Eldorado exports pulp to China in renminbi

Eldorado Brasil Celulose carried out its first pulp export to China using the Chinese currency renminbi as payment currency. According to the company, the operation, carried out on the 25th of August, sent 43 containers of cellulose to the Asian country.

According to Fernando Storchi, CFO of Eldorado, the export was a test and had the support of the Bank of China. According to the executive, the company’s objective is to open access to new lines of credit in the Chinese market.

Currently, China is home to Eldorado’s largest office abroad and is responsible for 40% of the company’s pulp sales.

(Source: Portal celulose)