China became the top destination for Brazil’s corn exports in January by volume, surpassing traditional importers such as Japan, Iran and Spain, according to revised trade data released by the Brazilian government on the 8th of February.
Brazil sold 983,684 tons of corn to China in the period, the second full month of corn trade after Beijing’s authorizations for Brazilian sales of the cereal at the end of November.
Given China’s announcement of an increase in the volume of maize in feed, it is reasonable to expect a 10% increase in cereal consumption. This may contribute to an increase in demand, as China will start its purchases of Brazilian corn with greater intensity in volume.
Winning a big customer like China will help Brazil get a bigger share of the global corn trade.