Brazil exported 2.28 million tons of corn in February, the most since 2016, relying on increased demand from China and inventories built up after the record crop in 2022. Government statistics have shown that Brazil exported 5.37 million tons of goods. Following the 2021 climatic crisis, Brazilian corn shipments climbed about three times compared to February of the previous year, when supply was lower. “Chinese market definitely favored corn shipments.” According to Herlon Brando, Undersecretary of International Trade Intelligence and Statistics, Brazilian production also jumped.
Sources: Reuters/Forbes Brasil (*Translated by Ia Niani)