Brazil To Become World’s Leading Maize Exporter By 2023

 

Brazil is on the verge of becoming the top corn exporter in the world as suggested by the Brazil import export data reports of 2023. Currently, the United States is the leading exporter of corn globally. Brazil is about to see a good maize harvest this year. Experts predict that there could be an 8% increase in exports by the financial year 2023. Another major reason behind Brazil leading the maize export market could be the light harvest in the United States, Ukraine, and Argentina.

According to the latest Brazil customs data reports, the country had exported over 51K million metric tons of volume in between FY 2022-23. Brazil and the United States exported the same amount of corn during FY 2022. While as per the import export data global reports, Argentina, South Africa, Ukraine, Paraguay and Russia were the top maize exporters worldwide.

As per Brazil export data, Brazil's maize exports were around 17 billion dollars in 2022 with over 8% increase. Taiwan, Iran, Vietnam, Egypt, Spain, Japan, and South Korea were the top destinations for Brazil's maize exports. Cargill and Bunge Aliments are the leading export companies in the agricultural sector from Brazil with a significant amount of yearly turnover.

On the other hand, Brazil import data shows that the country's most of the corn imports came from Argentina, Paraguay, United States, Bolivia and UAE. The worth of maize imports was estimated around 3.5 billion dollars in the financial year 2022.

Brazil is an important location in the South American region. According to the Brazil trade data, around 153 billion dollars agricultural exports were reported during the financial year 2022. Brazil's Soybean meal products were the top gainers contributing around 40% of the total South American exports.

For the Financial year 202, Brazil’s top agricultural exports were soybean, meat, forest goods, cereals, sugarcane, coffee, textiles, juices, leather, and animal/vegetable products. The top markets by Brazil agricultural exports are China, the United States, Argentina, Netherlands and Spain. China was the largest importer of agricultural goods with over 27% share of total Brazil exports.

Brazil soybean exports were around 8.7 billion dollars in the fiscal year 2022. China was the leading importer of soybean from Brazil. However, as per China import data, Brazil's soybean exports to China decreased by 8mmt as compared to last year's imports which were 70mmt. While soybean exports from Brazil to Netherlands and Spain have increased by a significant margin.

Meat products were the second most exported commodity from Brazil. As per the import export data, there was around 26% increase in meat exports from Brazil. For the financial year 2022, 23 billion dollars meat exports were recorded from Brazil. The top buyers for Brazil meat products were China, US, Saudi Arabia, UK and Russia.

Forest products were the third most exported products from Brazil. These include wood articles, charcoal, paper, etc. The total export value for forest products from Brazil was around 15 billion dollars in 2022. China, United States, Italy, Netherlands and Argentina are the top importers of wood articles from Brazil.

With help of an Exim Intelligence portal, you can increase your exports and generate quality ROI that will boost your business. Exim Trade Data is the leading global import export data provider offering valuable insights into the global buyers shipment records that will help you shape your business in the global market.