News

Asian corn market outlook for 2024: China’s demand drives recovery and diversification

Maize (Corn)
Indonesia
Published Jan 5, 2024

Tridge summary

The Asian corn market is expected to see dynamic shifts in 2024 due to demand dynamics in China and a positive recovery in Southeast Asia. Corn prices experienced a decline in 2023 due to a record crop in Brazil, but rebounded in the fourth quarter. China's demand for corn is expected to remain robust, with consumption projected to increase by 5 million mt for 2023-24, reaching record levels.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

New Delhi [India], January 4 (ANI): The Asian corn market is set for dynamic shifts in 2024, driven by the demand dynamics in China and a positive sign of recovery in Southeast Asia. Here’s an in-depth look at the key drivers shaping the Asian corn market in the upcoming year. In 2023, destination corn prices experienced a steady decline from earlier highs, influenced by a record crop in Brazil that eased global supply tightness. Despite reaching a 33-month low of USD 239.50/mt in July, corn prices rebounded in the fourth quarter, ranging between USD 255-USD 265/mt. However, end-users faced price volatility due to persistent weather markets, logistics challenges, and slow farmer selling in Brazil. As we enter 2024, various factors, such as weather influences, the ongoing Russia-Ukraine conflict, and freight impacts, will continue to contribute to price volatility. Southeast Asia emerges as a positive force in demand recovery, while China remains a key player shaping the global ...
Source: Theprint
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.