China became the main destination for Brazilian corn exports in January. In the period, the country surpassed traditional importers of cereal from Brazil, such as Japan, Iran and Spain. The revised business data was released by the federal government last week.

Brazil sold 983,684 tons to China during this period, the second full month of corn trade, after authorizations by the Chinese government for Brazilian cereal sales at the end of November.

In value, Brazilian corn exports to China totaled US$ 271.4 million in January. This figure represents about 15% of the total US$ 1.773 billion exported by rural producers in Brazil in the month.

Corn exports beyond China

Japan, Brazil's second largest buyer of corn by volume and the first in value, paid $275.2 million for 975,858 tons.

Last week, the federal government also revised Brazilian corn exports for January, reducing the estimate to 6.16 million tons, down from 6.34 million tons.

Source: Canal Rural