Brazil may lose its position as the world’s leading corn exporter – Cargill

Brazil plans to export 31 million tons of corn in the 2023/24 season.

According to the forecasts of Cargill CEO Paulo Souza, in the new season, Brazil may lose the position of the world’s largest exporter of corn, which it won in the previous year, ahead of the United States. Souza expects Brazil’s total corn production to decrease by 21 million tons compared to the previous level, but believes that the country will remain a competitive supplier on the world market.

In particular, safrinha corn grown in Brazil is becoming increasingly popular and competes with U.S. corn on world markets. According to Conab, in the 2023/24 season, Brazil plans to export 31 million tons of corn, while in the previous season, exports amounted to 55 million tons. The total corn production in Brazil is estimated by experts at 111 million tons, which is 16% lower than in the previous year due to the reduction of the acreage.

Tags: Brazil, crop forecast, corn, Cargill