New Delhi —
Corn exports from Brazil started November on a strong note, data from a private shipping company and Brazil’s trade department showed.
Brazil exported 1.26 million mt of corn during the first six working days of November compared with 3.65 million mt exported in the whole of November last year.
Although the pace of corn exports eased in the first week of November compared to previous months, daily average exports this month has been 209,700 mt from 182,300 mt in November 2018.
During July-October, corn exports each month were either close to or higher than 6 million mt.
The national agricultural agency Companhia Nacional de Abastecimento (Conab) has forecast Brazil’s corn exports at 38 million mt in the marketing year that began in February and ends in January.
Brazil exported 32.13 million mt of corn over February 1-November 8, the data showed, and needs to export about 5.9 million mt in the coming months to meet the forecast of 38 million mt for 2018-19.
Moreover, data from a private shipping company showed about 4 million mt of corn will be loaded for shipping in November.
In this scenario, it is possible corn exports from Brazil could be higher than earlier expectations, Conab said in a recent report.
— Mugunthan Kesavan, [email protected]
— Edited by Jonathan Fox, [email protected]