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Brazil: Maize exports are undermined by soya superharvest
Asia Intelligence Limited, Feb 26, 2004
As the US agriculture department announced last week that global stocks of maize were down to 67.5m tonnes in 2003, one of the lowest levels ever registered, BrazilaE(TM)s harvest of the grain is set to reach a new record. The country produced 45.4mt of maize last year and is expected to produce 51mt in 2004.
Although the country produces much more maize than the 40mt expected to be consumed in the internal market this year, export levels of the grain are not as high as they could be. Maize exports will be interrupted in March and will only be resumed in September. From April to August, Brazilian ports, including the one in Paranagua in the state of ParanA , the largest producer of maize in Brazil, will be engaged at full capacity in the export of soya beans.

Brazilian exports of soya beans are reaching new records in order to meet the global demand: in 2004, the country will export 25mt. However, as Fernando Muraro, from the rural agency of ParanA , points out, the point of export for both maize and soya beans is the same. According to him, aE-the harvest grows, but the infrastructure does not followaE(TM).

Such a scenario brings uncertainty to maize producers, as the harvest becomes dependent on the internal market, lowering prices. And as cooperatives start to clean up silos to make space for the 59mt of soya beans that will be harvested, prices are bound to fall even further. However, when maize exports are resumed in September, global demand is expect to push prices up.
MGR Archive 28.2.2004
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Russia Rapan $ 700
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