Skip to content
Menu

Brazil, China conclude key negotiations on starting corn trade

As major grain exporter, Brazil could satisfy China’s needs in wake of drastic drop in exports from Ukraine following Russian invasion.

ARTICLE BY

PUBLISHED

As major grain exporter, Brazil could satisfy China’s needs in wake of drastic drop in exports from Ukraine following Russian invasion.

ARTICLE BY

PUBLISHED

UPDATED: 22 Dec 2023, 4:40 am

Brazil and China have completed key negotiations on inaugurating Brazilian corn exports to China, according to Brazil’s Ministry of Agriculture, Livestock and Supply.

“The General Administration of Customs of China and the Brazilian Ministry of Agriculture signed the Protocol on Phytosanitary Requirements for exporting Brazilian corn to China,” added China’s Ministry of Commerce.

“This protocol has been signed by the General Administration of Customs, but it has to be approved by China’s Ministry of Agriculture – at present no imports can happen just yet,” a market source said.

China’s import of feed grains, especially corn, has risen over the last two years as the planted area for corn has hardly changed while demand continues to rise.

China usually imports corn from the US and Ukraine, however the Russian invasion has severely curtailed Ukraine’s grain exports and Brazil, being one of the largest exporters of corn, could fulfil China’s requirement.

China imported 9.31 million mt of corn over January-April, up 8.5 per cent year-on-year. In 2021, China imported 28.35 million mt of corn, up 152.2 per cent year on year, customs data showed.

 

UPDATED: 22 Dec 2023, 4:40 am

Send this to a friend