Brazil’s September corn exports out of Paranagua soar 1,138% – port authority

Brazilian corn exports out of the country’s second business port jumped 1,138% in September driven by strong demand and ample supplies, according to data compiled by the port authority on Friday.

The steep rise in shipments boosted corn exports out of the port of Paranagua to 3.430 million tonnes in the first nine months of the year, a 425% increase, the data showed.

Buyers turned to Brazil for corn amid issues affecting other major producers.

Poor weather in key agricultural regions from the United States to France and China is shrinking grain harvests and cutting global inventories.

This year, key producer Ukraine could harvest 25 to 27 million tonnes of corn, down from 42.1 million tonnes in 2021 as a reflection of the Russian invasion, which makes it difficult to grow crops.

Nationwide, Brazilian corn exporters shipped 318,800 tonnes on average per day through the fourth week of September, almost 135% above the daily average for September in 2021, government data showed.

Brazil’s corn production reached a record of 112.8 million tonnes in the 2021/2022 crop year and is poised to rise by 12.5% to almost 127 million tonnes in the 2022/2023 one, which is starting now.

Exports represented around 63.5% of all cargo moved at Parana state ports last month.

And while corn boosted overall export volumes from Paranagua, soymeal and soyoil exports also grew, according to the port authority.

“With the volumes of exported soybeans and bulk sugar falling this year, it was corn and soymeal that pushed up exports in the (agricultural) segment,” the port authority said.
Source: Reuters (Reporting by Ana Mano Editing by Alistair Bell)