The total volume of corn exported between January and July 2022 grew by 85.7% over the same period of the previous year, announced Brazil’s National Supply Company (Conab) in its August logistical bulletin.
The observed trend reflects China’s difficulty admitting approximately 10 million tonnes of grains that would typically be imported from Ukraine, in addition to pests in the country’s crops. Furthermore, due to adverse weather, European corn output predictions were cut by about five million tonnes, indicating that demand for Brazilian corn should rise. As a result, corn prices are expected to climb in domestic and international markets.
In the case of soybeans, Brazilian exports reached 60.54 million tonnes, a drop of 8.5% compared to the 66.20 million tonnes exported in the same period in 2021. The reduction is explained by the decrease in output itself coupled with the international situation.
The volume of fertilizers imported by Brazil in July exceeded that of the previous month, setting a new monthly record. As a result, the first semester total increased by 15.45% compared to the same period last year.
Source: O Presente Rural
