Paraguay: Corn exports expected to increase as the soybean harvest ends

Maize (Corn)

Grains, Cereal & Legumes

Paraguay

Market & Price Trends

Published Feb 24, 2024

Tridge summary

Paraguay has seen a significant decrease in corn exports in early 2024, with a drop of 90,528 tons compared to the same period in 2023, resulting in a 50% decrease in revenue to USD 28 million. Brazil remains the primary market, accounting for 40% of the exports, followed by Chile, Uruguay, South Korea, and Peru. The leading exporter is Agrofértil, holding a 13% share, with Copagra, Merco, and Cargill trailing behind. However, there is an expectation of an increase in corn shipments in the upcoming months following the end of the soybean harvest.

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

In the first of this year, Paraguay exported 154,467 tons of corn, that is, 90,528 tons less than in the same period of 2023. This movement generated USD 28 million, which represented a decrease of 50%, since in the same period of 2023 USD 58 million entered. Lic. Sonia Tomassone, Foreign Trade advisor at Capeco, explained that the soybean harvest ends in a few weeks, so corn shipments are expected to increase in the coming months, although at the moment no improvements are foreseen in the prices, with minor exceptions. On the other hand, he mentioned that corn exports for the 2023 harvest, whose period runs from May 2023, reached a volume of 3.2 million tons until January 2024. At the destination level, Brazil remains the main cereal market with a 40% share, followed by Chile (24%), Uruguay (11%), South Korea (10%), Peru (6%) and others. such as Japan, Vietnam, Cameroon, Saudi Arabia, Mauritius, Senegal, Cape Verde and Colombia, which complete the remaining 9%. Tomassone ...

Source: Productivacm