Brazil loses top position as corn exporter

Brazylia traci czołową pozycję eksportera kukurydzy

Collapse of exports to China

China remained the largest recipient with 1.42 million tonnes, followed by Egypt with 1.00 million tonnes, Iran with almost 870,000 tonnes and Algeria with around 830,000 tonnes.

Brazil exported more corn than the U.S. in 2023, largely because China opened its market to the South American country in late 2022. Brazil’s corn shipments to China last year totaled 16.1 million tons. But that has changed since April, according to a USDA official in Brazil. From April to June 2024, China imported just 80 tons of Brazilian corn, compared with 293,000 tons in the second quarter of 2023.

Corn exports down by 9 million tons

The months from February to June are traditionally of little importance in terms of Brazilian corn exports. However, the US representative also expects a decline in the second half of the year. For the current season, which will last until February 2025, he predicts exports of 45 million tons of corn. This would be about 9.3 million tons less than in the 2023/2024 season. Corn production in Brazil is assumed to fall by 13.5 million tons to 122.0 million tons, as the US Department of Agriculture (USDA) also reported in its July report.

For the period from October 2023 to September 2024, the USDA recently estimated Brazilian corn exports at 51.0 million tons, down from 53.3 million tons during the same period last year. Brazil’s agriculture ministry estimated Brazilian corn exports at 55.5 million tons, down from just 42.8 million tons the previous year.