Brazilian corn exports recorded a significant new high in October compared to the same period of 2018, according to data released by the Ministry of Economy’s Foreign Trade Secretariat (Secex) this week. The country shipped 6.137 million tons last month, 97.6% above the 3.105 million tons shipped abroad in October 2018. Compared to September 2019, when Brazil exported 6.501 million tons, the volume was 5.6% lower. The result partly reflects the large turnover involving the second crop of 2018/2019, which was carried out in advance since last year. Shipments were also driven by the appreciation of the dollar against the real, which helped to support prices in Brazil and stimulated foreign sales. Year-to-date, Brazil exported 36.241 million tons of maize, 130.4% more than the 15.731 million tons shipped in the first ten months of 2018. Revenues from October sales reached US $ 1.022 billion, compared to US $ 534.4 million in the same period last year (up 91.3%). Compared to September, when revenues reached US $ 1.095 billion, revenues decreased 6.6%. Between January and October this year, corn shipments generated total revenue of $ 6.330 billion, up 137 percent from the $ 2.670 billion in the same range of 2018.
The average price of cereal exported, considering 23 working days of last month, was US $ 166.60 per ton, 3% lower than the US $ 172.10 in October 2018 and 1.1% lower than $ 168.50 verified in September 2019.
Source: Canal Rural