Brazil almost triples revenue with corn exports to the European Union

Between January and August 2022, Brazilian agribusiness earned almost three times more from corn exports to the European Union than in the same period of the previous year.

The revenue from the sector’s shipments jumped from US$370 million to US$970 million.

The improvement in Brazil’s revenues occurs amid an increase in the price and volume of corn exports to the European Union.

The quantity shipped to the block in 2022 has already reached 3.6 million tons, around 80% more than between January and August 2021.

The average price per ton has jumped from just over US$180 to US$270. Thus, the improvement in value was close to 50%.

Grain prices and availability are under pressure from Russia’s military operation in Ukraine.

Data from the United States Department of Agriculture (USDA) show that in 2021, Ukrainian producers sent almost 24 million tons of this food to the world before the war.

Brazil, the third-largest exporter that year, shipped 27.5 million tons.

In 2022, according to the USDA estimates, Brazil will be responsible for 33 million tons of corn exports.

According to the agency, the amount should reach 46.5 million tons in the following cycle.

With information from Revista Oeste

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