Brazil: Corn exports in January exceed 4.5 million tons, but fall short of January 2023

By the fourth week of January 2024, Brazilian exports of unground corn reached the mark of 4,593,021.0 tons, as released by the Secretariat of Foreign Trade (Secex). This volume represents 74.86% of the total exported in the same period of January 2023, which registered 6,134,944.6 tons. The daily average of shipments in the first 19 working days of the month reached 241,737.9 tons, representing a reduction of 13.3% compared to the daily average of 278,861.1 tons recorded in the 22 working days of January of the previous year. The National Association of Cereal Exporters (Anec) estimates that Brazil's corn exports will reach 3.86 million tons throughout January 2024, below the previous estimate of 3.94 million. Sergio Mendes, General Director of Anec, highlights that 2024 will be a year of rest in exports, predicting a reduction of 15 million tons compared to 2023. In financial terms, revenues achieved to date total US$1.075 billion, representing a 29.4% drop in the daily average ...