HIGH CORN CONSUMPTION SUSTAINS IMPORTS TO MEET DOMESTIC DEMAND

The Port of Paranaguá should receive another corn ship from Argentina in the next few days. Corn imports are uncommon, considering that Brazil is a major corn exporter, and are due to the increased demand for domestic consumption and low production this harvest, which made prices soar. Brazil is the third-largest corn producer, behind the United States and China, but the drought has damaged the national harvest. With the low volume of rain between April and May this year, the Brazilian corn crop is smaller than expected this season. The corn import tax remains suspended by the Ministry of Agriculture until the end of the year to contain prices on the domestic market. The cargo from the first three ships that reached the coast of Paraná in recent months totaled 102,799 tons of corn. The expectation is to receive another 35,000 – 40,000 tons of corn in bulk for rural producers for animal feed.

Sources: Comex do Brasil/Datamar News