With a lower output of Brazilian maize, buyers like Egypt will need to consider alternatives to import the product. An analyst explains the possibilities for countries in the Middle East and North Africa.
Browsing: corn
The country got a revenue of USD 1 billion from exports of the product – mainly corn and rice – to the Arab world.
National Supply Company estimates 2019-2020 grain output to reach 246.4 million tons, up 18% from the previous crop.
Mato Grosso climbed from the Brazil’s sixth to third’s largest suppliers to the Arab countries. Corn, soy and beef exports were up.
The value of Brazilian agricultural production reached USD 86 billion last year, up 8.3%.
Brazil corn foreign sales hiked in August, which was driven by an increase in production. Egypt was the top destination and imported 291% more.
Sales from Brazil to the region fetched USD 892 million in July. Saudi Arabia, Egypt, and the United Arab Emirates are some of the leading buyers.
Current head of the Brazilian diplomatic representation to Bogotá, Colombia, Julio Bitelli was nominated to the embassy in Rabat. At the Arab Brazilian Chamber, he said that diversifying exports and signing the agreement with Mercosur will be his priorities.
The Brazilian National Company of Supply and IBGE have released their projections for the crops. Both expect growth.
The National Supply Company (CONAB) released its forecast for the 2018/2019 harvest, expecting an increase between 2.5% and 4.5% over the previous period.
According to the Brazilian Institute of Geography and Statistics (IBGE), Brazil produced 238.4 million tons of cereals, legumes and oil seeds, a 28% hike over the previous year.
