Brazil Remains a Major Corn Supplier Despite Losing Top Exporter Title, Cargill Reports
Source: The DairyNews
Despite relinquishing its title as the world's largest corn exporter—a position Brazil claimed last year after surpassing the United States—Cargill's chief executive in Brazil, Paulo Sousa, confirms that the country continues to be a strong competitor in global corn markets.
This resilience is attributed to another year of robust corn production, especially of the "safrinha" corn, which constitutes 70%-80% of the national output and is planted after the soybean harvest in the same fields.
Sousa highlighted the promising development of the safrinha crop across several major Brazilian growing regions, noting its significant role in the country's agricultural output. Despite a projected decline in total corn production by nearly 21 million tons this season, Brazil's yield remains substantial by global standards. According to the national crop agency Conab, Brazil's production is set to reach 111 million tons, marking a 16% decrease from the previous season due to reduced planting.
For the 2023/2024 season, Conab estimates Brazil will export 31 million metric tons of corn, significantly less than last year's record of nearly 55 million tons. This reduction positions Brazil closely behind the United States, which the USDA forecasts to export 53.34 million tons of corn in the same cycle.
As the safrinha corn primarily enters the global market in the second half of the year, it directly competes with U.S. corn, underscoring the dynamic and competitive nature of international corn trade. Despite the setbacks in volume, Brazil continues to play a crucial role as a major corn supplier on the world stage.
Sousa highlighted the promising development of the safrinha crop across several major Brazilian growing regions, noting its significant role in the country's agricultural output. Despite a projected decline in total corn production by nearly 21 million tons this season, Brazil's yield remains substantial by global standards. According to the national crop agency Conab, Brazil's production is set to reach 111 million tons, marking a 16% decrease from the previous season due to reduced planting.
For the 2023/2024 season, Conab estimates Brazil will export 31 million metric tons of corn, significantly less than last year's record of nearly 55 million tons. This reduction positions Brazil closely behind the United States, which the USDA forecasts to export 53.34 million tons of corn in the same cycle.
As the safrinha corn primarily enters the global market in the second half of the year, it directly competes with U.S. corn, underscoring the dynamic and competitive nature of international corn trade. Despite the setbacks in volume, Brazil continues to play a crucial role as a major corn supplier on the world stage.
