Brazil’s Corn Exports Projected for Record Year Despite December Dip

Brazil’s corn exports were estimated at 6.86 million tonnes in December, a decrease compared to the 7.29 million tonnes in December 2022, according to data from the National Association of Cereal Exporters (Anec).

The drop in corn volumes follows a decline in the Amazon River’s water level due to drought, leading exporters to redirect shipments to the port of Santos in some cases.

Anec also projected that Brazil could see record corn shipments of about 56 million tonnes in 2023, up from 44.7 million tonnes last year, driven by demand from China and a record harvest.

“China stands out as a major market this year, accounting for 31% of the total volume exported from January to November, which represents about 15.4 million tonnes,” said Anec.

The Asian country began buying corn from Brazil in significant volumes at the end of last year after signing an agreement.

See below the ports that stand out in Brazil in terms of corn exports. The data is from DataLiner.

Top Corn Export Ports in Brazil | 2023 | WTMT

Source: DataLiner (click here to request a demo)

On the other hand, Brazilian soybean exports are expected to reach 3.58 million tonnes in December, compared to 1.52 million in the same month in 2022, according to Anec. Brazil relies on larger inventories after a record harvest to maintain strong shipments until the end of the year.

Anec estimated Brazilian soybean exports for 2023 at a record 101.18 million tonnes, compared to 77.8 million in 2022.

Source: Forbes

Click here to view the original report: https://forbes.com.br/forbesagro/2023/12/anec-ve-queda-na-exportacao-de-milho-do-brasil-em-dezembro-soja-mais-que-dobra/

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