Word from the Ground
New Buyers Emerge for Brazilian Corn
- Category: Word from the Ground
- Published on Wednesday, 04 April 2012 15:28
By Alfredo Navarro, USGC Consultant in South America
We are seeing major changes taking place in buyers of Brazilian corn. Europe, once a major customer, has yet to purchase any bushels in January and February. Asia is taking over as Brazil's main customer, and Colombia is also becoming a regular buyer. However, the biggest surprise is Taiwan, which leads this period, purchasing almost 250,000 metric tons (9.8 million bushels) of Brazilian corn.
Brazil's corn exports for the two months totaled more than 1.1 million tons (43 million bushels), but only a few hundred thousand tons were booked for export in March.
In January and February, Brazil's top customers were Taiwan, Iran, Malaysia, Morocco, Colombia, Algeria, Saudi Arabia, the Dominican Republic, Indonesia and South Korea.