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In 2023, Brazil could surpass the United States and become the largest corn exporter in the world, according to the National Association of Cereal Exporters (Anec). In this context, the country can sell a total of 50 million tons, against an estimate of 48.897 million tons for the North American country.
According to Fábio Pizzamiglio, director of Efficienza, it is necessary to monitor the appreciation of the real against the dollar as a way of predicting the profitability of the activity during 2023. “We are experiencing a process of appreciation of our currency internationally. This makes our product cheaper, but can affect the profitability of local producers. This challenge must be considered, especially when we consider our country’s production capacity”, added Pizzamiglio.
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“With the second corn harvest approaching and the historic increase in export flows from August onwards, shipment volumes are expected to continue growing. However, both in the physical Brazilian and international markets, we are observing a devaluation of prices due to the advance of the safrinha harvest, which has weakened demand for the cereal”, stated Pizzamiglio.
Corn futures prices ended Monday (03) with little variation on the Brazilian Stock Exchange (B3), oscillating between R$ 53.05 and R$ 62.23. Analysts indicate that the arrival of the off-season will bring negative pressure to prices, since large volumes of corn will still be harvested. In June, corn exports reached 1,034,282 tons, an increase of 4.54% compared to the same period last year.
However, the scenario is positively observed by Leonardo Sodré, CEO of GIROAgro, one of the largest fertilizer industries in the country. For the executive, “the Brazilian production area has been growing over the years, resulting in new records with each cycle. Internally, the States have been promoting their specialties and techniques, generating results that impact our agronomic visibility in the world market”, he assessed. According to the executive, the positive results are a reflection of the production and growth of the segment in recent years.
Source: Leonardo Gottems | agrolink
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