China imported 870,000 t of corn from Brazil in December, bringing the total for 2022 down to 20.62 Mt from 28.4 Mt the year before. Brazil, the second-largest exporter in the world, is adding to the diversification of Chinese purchasing channels. China had previously relied on the US and Ukraine to supply the majority of its maize import needs, but these relationships are now shaky due to the conflict in Ukraine and the difficult state of relations with the US.
Brazil's inclusion on the shopping list will reduce geopolitical risk and improve supply security. With Brazil in the southern hemisphere and China in the northern, the harvest windows are also quite favourable, greatly reducing seasonality problems.