China cuts corn imports by 40% year-to-date, while sugar purchases grow

China's corn imports have fallen by almost 40% in the year to November 2024, totaling 13.3 million tons. The decline occurs in the context of a record harvest of the cereal in the Asian country, according to data released by the Chinese government this Wednesday. The decline in Chinese purchases also reflected Brazil's reduced participation as an exporter of the grain in 2024, after a historic performance in the previous harvest. In 2023, Brazil exported more than 16 million tons of corn to China, consolidating the Asian country as the main destination for Brazilian cereal. However, in 2024, with reduced national production, Egypt and Vietnam became the leading buyers of Brazilian corn until October, according to government data. In contrast to the performance of corn, Chinese sugar imports grew by almost 14% in the year to date, reaching around 4 million tons. Brazil remains the main supplier of this product to China, with exports exceeding 2.8 million tons between January and ...