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China Brazil
28.11.22 12:22
Economics

China to increase exports of Brazilian corn

This will be made possible by a new trade protocol and a record harvest

Brazilian corn exports could grow exponentially next year if farmers harvest the entire crop and demand in China is strong, Brazil's National Association of Grain Exporters said.

Brazil could export between 40 and 50 million tonnes of maize in the new year, helped by a new trade protocol with China and a potential bumper crop, Sergio Mendes, CEO of the Anec Group, told Reuters.

Brazil could supply up to 5 million tonnes of maize to China alone in 2023, making it a key supplier. The parties have agreed on new protocols allowing the Latin American giant to export sizable quantities of maize and peanuts to the PRC in May this year.

In October this year, the General Administration of Customs of China (GACC) issued permission to 47 Brazilian peanut companies to export products to China. Opening the Chinese market to Brazilian peanuts is part of a lucrative package reached during bilateral talks this year.

The two countries continue to strengthen food security.

The day before, experts predicted a new vector for the development of Chinese-Brazilian relations. In their view, Brazil is ready to seek new forms of economic cooperation with the Middle Kingdom.

Photo: unsplash.com

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