China has agreed to allow imports of Brazilian corn, providing a key market for surging production that has left a surplus of the grain in the Latin American farming giant local media said on Wednesday. According to Reuters, an official agreement will be signed with Brazilian officials in coming hours, local papers Valor Economico and Folha de S. Paulo said, reporting from China. Agriculture ministry representatives in Brasilia said they could not confirm the reports…Full-text article: USAgNet.com Nov 2013
- Brazil’s Minister of Agriculture hopes to corn exports to reach 10 million metric tons per year
- The U.S. has been the dominant supplier of corn to China. Burma, Laos, and Thailand are small secondary suppliers with shipments generally under 40,000 MTs per year. Argentina and Ukraine were recently (2012) put on China’s approved list of corn suppliers and could emerge as potential competitors to the U.S. as China looks to diversity its supply base.