02/24/2024 – 7:30
Brazilian corn exports are expected to increase 30.3% over the next ten years, reaching 77.5 million tons in 2033/34, according to projections from the United States Department of Agriculture (USDA). Brazil's share of world exports is expected to rise from 30.1% in 2024/25 to 32.8% in 2033/34, said the USDA on Thursday, the 22nd.
According to the US department, the growth of Brazilian exports continues to be associated with the expansion of new agricultural areas in the Center-West region of the country.
Furthermore, “yields have been steadily improving for second-crop corn production and the timing of the second-crop harvest boosts exports, giving Brazil a competitive advantage over Northern Hemisphere countries,” the USDA said.
US shipments are expected to increase 21.9% over the period to 63.5 million tonnes in 2033/34.
The share of world exports is expected to grow slightly, from 26.4% to 26.9%, according to the USDA.
Argentina is expected to be the third largest corn exporter in the projection period, with shipments growing 14.4% to 45.7 million tonnes in 2033/34.
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