Friday, September 01, 2017

Cargill Brazil's export is estimated at 35 mi t record in 2017

An Executive of Cargill's brazilian unit estimated on Thursday that Brazil will export a record volume of 35 million tonnes of maize, with external sales country gaining pace in the second half, before the sale of a record harvest. The forecast exceeds the estimated industry association, the Anec, at 5 million tons. The 30 million tons targeted by the volumes would be very close to an all-time record.
Paulo Sousa, head of the local unit of grains and oilseeds of Cargill, said during an industry conference that the country will close the month of August with exports of 5 million tons of corn, with the global company headquartered in the United States being responsible for a large part of the shipments. Data from the Bureau of foreign trade (Secex), the Brazilian Government, indicated last Monday exports of 4.5 million tons until the fourth week of August.
Brazil is expected to represent 50% global exports of corn between August and January next year, he added. "Cargill will be the leader," he said in relation to the total that the company will represent the volume of exports in August. The company operates in the country for 52 years.
Brazil's strength as an exporter of corn in the second half of the year occurs due to the corn harvest in the winter. The second crop of corn has made Brazil the second cereal exporter behind the UNITED STATES.
The second corn harvest is about 68% total cereal harvest in Brazil, which this year should reach a record of approximately 97 million tons, according to government data. "But the winter maize is much more vulnerable to climatic hazards, then price volatility tends to be a constant issue," said Shah.
Last year, he said to illustrate your argument, there was a sharp drop of the brazilian production of corn due to climatic factors, reducing strongly the production. "The price has gone up so much that allowed exporters like Cargill and competitors buying that had sold," he said, adding that this was done to cover the gap of production and meet domestic demand. Not all corn sold for export could be bought back, he said. The domestic demand is estimated at around 60 million tons.
Agrolink - 01/09/2017
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