Brazil’s corn exports via the South Port of Paranagua, citing a statement from local port authorities on Tuesday, may be the first five of the year, partly due to a lack of production from Ukraine, according to Reuters. Atypical 161% increase in the month.

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The statement said that the amount of corn exported via Paranagua between January and May increased from 591,538 tonnes in the same month of the previous year to 1,546,000 tonnes. data show that the conflict in Ukraine is urging corn buyers to seek supply from alternative sources. Brazil is not a major corn exporter at this time, according to Helder Catarino, General Manager of Interalli, which operates at the port. He said the country was unable to transport corn through the Black Sea as usual after Russia invaded Ukraine. “Brazil is still exporting corn because it is still in stock and has high margins and prices. In other words, there was supply and demand there,” he said.

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According to the Port Authority on Brazil’s second corn crop, corn exports also increased in the first few weeks of the year by making room for storage of Brazil’s second corn. According to the statement, season 4,444 farmers in Parana, Mato Grosso and Mato Grosso Dosul provided most of the corn shipped through Paranagua. Egypt, Iran, Spain, South Korea and Portugal were important targets.

Source: Reuters