Country News
Argentina: The Banco Central de la República forecasts that reduced exports will cause surplus stocks of barley to increase. (AgriCensus)
Brazil: Cron exports are unlikely to be as robust as last year and the Instituto Mato-grossense de Economia Agropecuária (IMEA) reports that corn storage capacity is coming under pressure. (AgriCensus)
China: Due to the lack of corn import quota, sorghum imports surged in May. The government is considering an increase in the corn import quota and sold another 4 MMT of stockpiled corn on 23 June. The government also approved a new corn GM event for importation and renewed the safety certificates for five other corn events. (Reuters; AgriCensus)
EU: The corn crop estimate was raised 500 KMT to a possible record 71.9 MMT, with a resulting 20 percent drop in 2020/21 imports. Meanwhile, based on higher corn prices in the U.S. Gulf, Brussels cut the import duty by 55 percent to $5.24/MT and reduced the tariff on sorghum. (Refinitiv)
India: In response to demands from poultry growers, New Delhi will lower the normally 60 percent import tax on corn down to 15 percent for up to 500 KMT of the key feed ingredient. (Refinitiv)
Indonesia: The Agriculture Ministry is targeting the production of 26 MMT next year, down from the 30.35 MMT production target in 2020. (Reuters)
South Africa: Based on a survey of crop analysts and traders by Reuters, the country’s Crop Estimates Committee is expected to raise its forecast for 2019/20 maize production to 15.574 MMT, a 38 percent increase over the 2018/19 drought impacted crop. (Refinitiv)
South Korea: FLC ended a four-week break in corn buying and bought from Olam at $190.33/MT. (AgriCensus)
Tunisia: The government buying agency acquired 50 KMT of barley at $196.29/MT. (AgriCensus)
Zimbabwe: The 2020/21 corn crop is looking increasingly bleak and is raising concerns about food security. (AgriCensus)