Brazil corn exports soar 221%, driven by Ukraine’s absence

Brazilian corn exports via southern ports in Parana state have continued to exceed expectations, with shipments rising 221% in the first half of the year amid Ukraine’s absence from the market.

According to a Paranagua port authority statement on Monday, the rise in corn export volume was possible as demand picked up at a time when Brazil still had plenty of its summer corn crop to offer.

“With the conflict, Ukraine, which exports corn at this time of year, is unable to ship,” the port authority said. “Thus, countries have to look for corn in other origins, including Brazil.”

The data suggests the South American country is on track to export about 37.5 million tonnes this year, up about 80% from 2021, as the real busy corn export season normally begins in the second half.

At this time of the year, Brazilian farmers are finalizing harvesting of their winter corn, which makes up about 75% of national production in a given year.

Brazil’s abundant winter corn makes it a large exporter in the second half, competing with heavyweight suppliers like the United States in global markets.

Brazil’s short-term corn export prospects have also been bolstered by a protocol allowing sales to China, though shipments have not effectively begun.

From January to June, 1.9 million tonnes of corn were exported through the ports in Parana state, up from last year’s 591,538 tonnes, the Paranagua port authority said.

After two years without any corn exports in the month of June, corn shipments last month reached 354,424 tons, the authority said. Source: Reuters (Reporting by Ana Mano; editing by Jonathan Oatis)