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| “Since November 2022, a new agreement has enabled corn trade between Brazil and China. The two countries had already signed a protocol of phytosanitary requirements for corn exports in 2014 that, in theory, would open Brazilian corns to China. But little trade happened due to complex inspection requirements, quarantines, certificates and permits. In 2022, China relaxed most of the requirements. As a result, China has become the main destination for Brazilian corn. In 2023, China imported 635 million bushels of corn from Brazil, equivalent to one-third of the total exported by the country. Brazil’s corn accounted for nearly 85% of Chinese imports between September and December 2023, according to Chinese customs data.”
“The Brazilian increase occurred mainly in the last 10 years, coinciding with Brazil’s significant increase in second-crop corn (called safrinha), planted in January-February and harvested in June-August each year. Currently, the second crop corn accounts for about 75% of total corn production in Brazil. The growth in the safrinha in the Center-West and Northeast states is an opportunity for Brazil to double its corn production in the coming years (see farmdoc daily, April 12, 2021).”
Edited by David 12/22/2024 17:01
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How long of a warning should the farmer have that bad times are coming?
