MARKET REPORT 82 FEED & ADDITIVE MAGAZINE February 2024 ternational corn trade in the 2022/23 season is almost the same, with some changes compared to previous years. With the exception of China, the world's largest corn producers also stand out in the list of the largest exporters. According to USDA data, Brazil, the United States, Argentina, Ukraine, Russia and the European Union accounted for more than 87 per cent of the world's corn exports in the 2022/23 season. Brazil ranks first in world corn exports with an estimated export volume of 23.2 million tonnes. USDA predicts that Brazil will maintain its leadership in the 2023/24 season with 58 million tonnes of exports. The USA, which usually ranks first in the world corn export list, experienced a decline in exports in the 2022/23 season in parallel with the high decline in production and fell to second place with 42.8 million tonnes of exports. However, projections show that the USA will increase its exports again in the 2023/24 season and reach 54 million tonnes. Ukraine, which is still in a state of war, follows the US in the 2022/23 export ranking with 27.1 million tonnes. Ukraine's exports are expected to decline to 21 million tonnes in the 2023/24 season. Argentina, another major corn exporter, experienced a significant decline in exports in the 2022/23 season and ranked 4th with exports down to 25.7 million tonnes. On the import side, the European Union, Mexico, China, Japan and South Korea stand out. The EU, which ranked first in world corn imports with 23.1 million tonnes in the 2022/23 season, is expected to import 23.5 million tonnes in the 2023/24 season. The EU is followed by Mexico with 19.3 million tonnes of corn imports, China with 18.7 million tonnes, Japan with 14.9 million tonnes and South Korea with 11 million tonnes. Resources: • International Grains Council (IGC), Grain Market Report, 11/01/2024, https://www.igc.int/ • United States Department of Agriculture Foreign Agricultural Service (USDA), Oilseeds: World Markets and Trade Report, January 12, 2024, https://www.fas. usda.gov/
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