Paraguay experienced a significant increase of 67.8% in corn exports through May 2023 compared to the same period last year.
According to the Paraguayan Chamber of Exporters and Traders of Grains and Oilseeds (Capeco), shipments nearly doubled as 500,889 tons were exported, an increase of 202,469 tons compared to the first five months of 2022 when 298,420 tons were shipped.
In terms of value, corn exports brought in US$123 million in foreign currency income up to May 2023, marking a 48.7% increase of US$40 million compared to the US$82.7 million generated in the same period last year.
The report highlights that corn shipments for the 2023 harvest began in May, with 15,862 tons released as the first harvested lots.
However, a significant volume of grain is still in the fields awaiting collection, indicating that exports for the new season are expected to increase from the end of July.
In terms of markets, all of the 2023 crop exports were transported by land.
Uruguay was the primary destination for Paraguayan corn, accounting for 78% of total exports, while Brazil accounted for the remaining 22%.