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

Published Jan 4, 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 Tridge's proprietary AI model for informational purposes.

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