Brazil’s corn shipments fell 30% in first ten months of 2018
Dec, 03, 2018 Posted by datamarnewsWeek 201849
Whilst Brazil’s soybean shipments have increased substantially over the past month, corn exports have fallen as a result of reduced local supply, as well as an increase in US exports. The country shipped 30% less corn in the first ten months of 2018 YoY, at 16.5m tons. The National Agricultural Supply Company, Conab, said Brazil’s overall corn production reached 80.8m tons in the 2017/18 crop year, down 17% compared to the previous cycle. Moreover, an increase in logistics costs, caused by an increase in the minimum trucker freight rate, served to further dampen shipments. On a brighter note, this year Iran became the main main importer of Brazilian corn, with shipment up 40% between January and August YoY, accounting for 32.7% of Brazil’s total corn exports.
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