Brazil increased corn exports by more than 10 million tons in 2023

Published 2024년 1월 12일

Tridge summary

In 2023, Brazil increased corn exports to China, Vietnam, and other countries, with a 10.45 million ton increase in exports compared to the previous year. Unfavorable weather conditions in Brazil, including excessive rainfall in the south and moisture deficit in the north, led to reduced forecasts for soybean and corn harvests in 2023/24. Conab experts also reduced the forecast for soybean exports and left the forecast for soybean processing at the same level.

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

Original content

According to Oil World, in 2023, Brazil increased corn exports from 43.44 to 55.89 million tons compared to the previous year, with the largest shipment growth during the second half of the year. In October-December, 21.92 million tons of corn were exported, compared to 19.11 million tons for this period in 2022. Brazil delivered the largest amount of corn to China in the 4th quarter of 2023 - 8.24 million tons compared to 1.17 million tons in the same period of 2022. Deliveries to Vietnam also increased from 1.34 to 2.06 million tons . In total, in 2023, China imported a record 16.16 million tons from Brazil (compared to 1.2 million tons in 2022) and became the main buyer, displacing EU countries from this position, which in 2023 reduced imports of Brazilian corn from 8 .24 to 3.06 million tons. It is worth noting that Japan, South Korea, Vietnam, Taiwan, Morocco, Algeria and Saudi Arabia increased their corn imports from Brazil in 2023, while Egypt, Mexico, Colombia and Iran ...

Source: Graintrade