In 2023, Brazil exported 55 million tons of corn and became the world’s largest exporter of the cereal during the season. However, for 2024 the scenario should be different, given less availability of the grain in the country and the possibility of originations in other locations, which should result in fewer Brazilian exports.
According to data from Anec (National Association of Cereal Exporters), after record corn exports in 2023, Brazil is expected to export a maximum of 38 million tons throughout 2024. In the entity’s view, this reduction is directly linked to the decrease in expected corn production in the country this year.
“We estimate a drop of around 20 million tons in Brazilian production and this will directly and completely affect exports. We have an internal market that needs to remain supplied and has priority, including having more attractive prices than the external market”, explains Sérgio Mendes, General Director of Anec.
Brazilian corn exports in 2024 are expected to be lower than those in 2023 as a direct reflection of the decrease in national production of the grain from one year to the next. However, another factor can also act to take away Brazilian corn’s space on the international market: competition with other origins such as the United States, Ukraine and Argentina.
Source: