Brazil set for record maize harvest as China gobbles up meat

Brazilian farmers are preparing to harvest this year more maize than ever before, as Chinese purchases of Brazilian meat drive up demand for feed for livestock, S&P Global Platts reports.

The collector of commodities market information quotes the Brazilian national agricultural agency, Companhia Nacional de Abastecimento, as saying it expects 100.5 million tonnes of maize to be harvested this season, the most on record.

The report quotes an INTL FCStone Financial Inc. economist, Arlan Suderman, as saying Chinese demand for Brazilian pork, poultry and beef has stimulated the expansion of meat production in Brazil, so increasing demand for maize to feed livestock.

S&P Global Platts forecasts that demand for maize in Brazil will grow to 70 million tonnes this year from 64 million tonnes last year.