China buys up corn from Argentina and Brazil

Due to rapidly growing demand, China imports about 20 million tons of corn annually. Currently, Brazil is the leading supplier of corn, but Argentina has the potential to become the leader in this segment of Chinese imports.

Experts note that the pace of grain shipments to China is gaining momentum. Anec estimates that in July corn exports from Brazil will amount to 3.4 million tons, which is 2.4 million tons more than in June. However, the projected July figure is 2.5 million tons behind the result of the same month a year earlier.

China is the main destination for Brazil’s corn exports in 2024, accounting for 20% of all shipments.

Also, according to reports from national crop export group Ciara-Cec, cargoes of Argentine corn are currently being formed for shipment to China. This will be the first shipment of Argentine grain to China in 15 years.

An agreement to begin exporting Argentine corn to China was reached back in 2023, but shipments have not materialized due to unresolved issues, including strict PRC regulations on genetically modified products. But now all obstacles to the start of grain shipments from Argentina have been removed.

Tags: China, corn, Brazil, Argentina