Brazil’s Corn Export Triumph: Remarkable Rise in Corn Exports
In a significant agricultural development, Brazil has emerged as a global leader in corn exports, surpassing the United States. The Foreign Agricultural Service (FAS) of the US Department of Agriculture (USDA) projects that, in the 2022-23 marketing season, Brazil will secure its position as the foremost corn exporting nation, a milestone it has never achieved before.
Conversely, the United States is poised to claim the mantle of the leading corn producing nation, marking a significant shift in the landscape of global corn trade. This change will elevate America to the second position on the world stage.
Brazil’s Rise in Corn Exports and Production
Brazil’s agricultural prowess extends beyond exports, as the nation has also received approval to become the world’s leading exporter of corn during the 2023-24 marketing season. However, it’s important to note that Brazil will remain third in global corn production, trailing behind the United States and China. The gap is substantial, with China producing more than double the amount of corn as Brazil, and the United States exceeding Brazil’s production by over threefold. Prior to this recent development, Brazil had previously outperformed the United States only once during the 2012-13 season, which was characterized by a severe drought impacting American corn production.
Brazil’s Opportunity in China Corn Exports
France predicts a surge in Brazil’s total corn exports for the current 2022-23 marketing season, reaching an unprecedented 560 million metric tonnes. This projection significantly outpaces the expected corn exports from the United States, estimated at 410 million metric tonnes.
Looking ahead to the upcoming marketing season starting in September 2023, the United States anticipates increasing its corn exports to 520 million metric tonnes, while Brazil is expected to ship 550 million metric tonnes of corn. The boost in corn production in Brazil during the 2022-23 season can be attributed to excellent harvests and significant improvements in the transportation infrastructure, which have streamlined the movement of corn from production areas to ports. Brazil’s robust trade relations with China, a major importer of maize, remain strong, with the nation signing agreements with several new importers for corn shipments from Brazil.
Traditionally, the United States had been China’s primary corn supplier, followed by Ukraine. However, due to the ongoing conflict in Ukraine, there is a looming threat of a substantial decline in its corn exports.
This presents Brazil with a unique opportunity to expand its critical corn exports to China, further solidifying its position as a key player in the global corn market.