Brazil will export less corn in 2024 than in 2023, following a decrease in production

Published 2024년 4월 9일

Tridge summary

In 2023, Brazil set a record by exporting 55 million tons of corn, becoming the world's largest exporter for the season. However, projections for 2024 show a potential decrease in exports to between 35 and 52 million tons due to reduced corn production, attributed to a smaller planted area and the need to meet domestic demands. Despite this, the competitiveness of Brazilian corn remains strong, with significant demand from African countries. Rafael from Anec emphasizes that the temporary dip in exports is due to producers waiting for higher prices, not a loss in market competitiveness. He reassures that an increase in production will lead to a boost in exports, highlighting the resilience of Brazil's corn export capacity despite challenges from increased production in other countries and temporary market dynamics.

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Original content

In 2023, Brazil exported 55 million tons of corn and became the world's largest exporter of the cereal during the season. However, for 2024 the scenario should be different, given less availability of the grain in the country and the possibility of originations in other locations, which should result in fewer Brazilian exports. According to data from Anec (National Association of Cereal Exporters), after record corn exports in 2023, Brazil is expected to export a maximum of 38 million tons throughout 2024. In the entity's view, this reduction is directly linked to the decrease in expected corn production in the country this year. “We estimate a drop of around 20 million tons in Brazilian production and this will directly and completely affect exports. We have a domestic market that needs to remain supplied and has priority, including having more attractive prices than the external market”, explains Sérgio Mendes, General Director of Anec. This relationship between less production ...

Source: NoticiasAgricolas