Brazilian corn exports are expected to surpass the 50 million-ton mark in 2023, making Brazil the world’s largest exporter.
The increase in imports by China, which stands alone as the leading buyer of Brazilian corn, has been the primary driver behind this surge.
According to Giovani Ferreira, the Director of Content at Canal Rural, China, the second-largest global corn producer, imported 8 million tonnes of Brazilian corn between January and October this year. This volume is more than double what was imported throughout 2022.
The 2022/2023 Brazilian corn crop is projected to reach a record of 110 million tons, which is expected to contribute to the growth in exports.
“Brazil is set to become the world’s largest corn exporter in 2023, surpassing the United States, which is expected to export between 45 and 47 million tons this year. China plays a crucial role in this scenario due to its growing demand for corn,” Ferreira states.
“Brazil’s corn exports have an interesting historical trend. After a period of scarcity in 2019 when we exported around 34 million tons, we rebounded last year, reaching nearly 44 million tons,” he said.
“Currently, we are close to 40 million tons, and the projection is that we will finish October with approximately 42.5 million tons. This means Brazil is on track to exceed the 50 million-ton mark of corn exported in 2023, compared to the 43-44 million tons from the previous year,” he added.
Source: Canal Rural
To read the original news publication, access: https://www.canalrural.com.br/agricultura/china-lidera-importacoes-de-milho-brasileiro-e-impulsiona-exportacoes-para-recorde-em-2023/
