Surge in Brazil corn export in 2022, expected more in 2023

As per reports, Brazil exported 43.17 million metric tonnes of corn in 2022, a 109.5% increase over the 20.6 million metric tonnes it exported the year before as a result of production recovering from the summer crop losses and rising interest in the country's grain amid supply concerns brought on by the conflict in Ukraine and subsequent Chinese demand. Because December grain exports came in at 5.8 million mt rather than the anticipated 6.1 million mt, the year's output of corn fell short of the forecasted 43.5 million mt. With 12% of the total volume, Iran was Brazil's top export market, followed by Japan (12%) and Spain (12%). In 2023, gaining access to the Chinese market was the major goal, and 22 ships carrying grain with a possible destination of China are presently being followed.The robust export rate is anticipated to continue in 2023 as January corn shipments are forecast to be 4.3 million mt, up from 2.2 million mt in the same month in 2022.