Brazilian corn exports reached the highest volume in February since 2016

Published 2023년 3월 2일

Tridge summary

In February, Brazil achieved a milestone in corn exports, recording a high of 2.28 million tons, the highest since 2016, due to increased demand from China and a larger stockpile following the 2022's record harvest. This represents a threefold increase compared to the same period in the previous year, attributed to fewer weather-related issues. The surge in corn exports is largely due to China's market opening to Brazil. In contrast, soybean exports, starting their peak season, saw a decline of 1 million tons compared to February 2022, and along with coffee, sugar, and oil, other key commodities also experienced a decrease in their annual exports in February.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to government information released this Wednesday, corn exports from Brazil reached the mark of 2.28 million tons in February, the highest volume recorded for the month since 2016. This increase can be attributed to additional demand from China and stocks accumulated due to the record 2022 harvest. Compared to the same period last year, shipments of the Brazilian cereal tripled in size, since, in 2021, the availability of corn was affected by the occurrence of adverse weather phenomena. But the role of China, which imported around 1 million tons in January, is being noticed by the authorities, after the Asian country opened its market to Brazil at the end of last year. Preliminary data for February does not include figures by importing nation. “The opening of the Chinese market certainly favors corn shipments. Brazilian production too, Brazil took a leap in production”, said Undersecretary of Foreign Trade Intelligence and Statistics, Herlon Brandão, to journalists. ...

Source: Suinoculturaindustrial