Corn exports expected to fall short of target
Sep, 08, 2021 Posted by Ruth HollardWeek 202135
Brazil corn exports are expected to fall short of 20 million tons in 2021. The new forecast is for between 14 and 15 million tons, less than in 2020.
International demand decreased due to the combination of very high prices in Brazil and substitutions of other raw materials for the feed being shipped to large buyers such as China.
Analyzed by consultant Vlamir Brandalizze, these 2 points have already been evidenced in the year-to-date figures, as corn exports are down by 5 million tons: to date, 10.8 million tons have been exported this year compared to 15.2 tons for the same period in 2020.
See the chart below for a history of Brazilian corn exports since 2018. Data are from DataLiner:
Brazilian Corn Exports (HS 1005) | Jan 2018 to July 2021 | WTMT
Source: DataLiner (To request a DataLiner demo click here)
The large animal protein markets have also started to use other crops to replace scarce and expensive corn, as seen since the second half of 2020.
China offset its reduced corn imports with wheat and rice to feed its herds, especially its pigs.
Source: Money Times
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