Brazil ends March/24 exporting 32.3% less corn than the same month in 2023

Maize (Corn)
Market & Price Trends
Published Apr 5, 2024

Tridge summary

In March 2023, Brazil experienced a significant decline in its unground corn exports, with volumes dropping to 431,307.9 tons, which is only 32.30% of the total exports for the month, amounting to 1,335,257.5 tons. This represents a 67.7% decrease in the daily average shipments compared to the same period last year. Financially, this downturn resulted in a 72.5% reduction in revenue from corn exports, totaling US$110.417 million, alongside a 14.9% decrease in the average price per ton from US$300.90 to US$256.00. Furthermore, Anec anticipates a 32% decline in corn exports for 2024, estimating exports to be around 38 million tons, a significant drop from the record 56 million tons exported in 2023.
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

At the end of March, Brazil recorded shipments of 431,307.9 tons of unground corn (except sweet corn) for export, according to the report from the Secretariat of Foreign Trade (Secex). This represented just 32.30% of the total exported in March 2023 (1,335,257.5 tons). As a result, the daily average of shipments in the 20 working days of the month was 21,565.4 tons, representing a drop of 67.7% in relation to the daily average of shipments of 58,054.7 tons recorded in the 23 working days of last March. The estimate by Anec (National Association of Cereal Exporters) is that Brazil will export around 38 million tons of corn throughout 2024. This level would represent a decline of 32% in relation to the 56 million tons recorded in 2023 , a record level in the country's history. In financial terms, Brazil raised a total of US$110.417 million in the period, compared to US$401.744 million in March of last year. ...
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