Price for Cereal Groats and Meal; of Maize (Corn) in Brazil - 2024

Price for Cereal Groats and Meal; of Maize (Corn) in Brazil (FOB) - 2024

The average export price for cereal groats and meal; of maize (corn)s stood at $417 per ton in January 2024, growing by 4.4% against the previous month. In general, the export price, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in April 2023 an increase of 17% m-o-m. The export price peaked at $613 per ton in January 2023; however, from February 2023 to January 2024, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In January 2024, the highest price was recorded for prices to France ($523 per ton) and Barbados ($516 per ton), while the average price for exports to Paraguay ($351 per ton) and Trinidad and Tobago ($459 per ton) were amongst the lowest.

From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to Barbados (-1.0%), while the prices for the other major destinations experienced a decline.

Price for Cereal Groats and Meal; of Maize (Corn) in Brazil (CIF) - 2022

The average import price for cereal groats and meal; of maize (corn)s stood at $1,309 per ton in 2022, dropping by -15% against the previous year. In general, the import price continues to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2013 when the average import price increased by 65% against the previous year. As a result, import price reached the peak level of $3,605 per ton. From 2014 to 2022, the average import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Italy.

From 2012 to 2022, the rate of growth in terms of prices for Italy amounted to -4.5% per year.

Exports of Cereal Groats and Meal; of Maize (Corn) in Brazil

In 2022, shipments abroad of cereal groats and meal; of maize (corn)s decreased by -68.3% to 6.3K tons, falling for the second consecutive year after two years of growth. In general, exports recorded a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of 175%. As a result, the exports reached the peak of 33K tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of cereal groats and meal; of maize (corn)s declined sharply to $3.1M in 2022. Over the period under review, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2020 with an increase of 219%. As a result, the exports reached the peak of $15M. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

Export of Cereal Groats and Meal; of Maize (Corn) in Brazil (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Paraguay	13.4	14.5	383	994	320.2%
Angola	435	302	440	285	-13.1%
Cameroon	6.5	706	855	277	249.3%
Trinidad and Tobago	307	415	1,278	275	-3.6%
Barbados	359	446	590	260	-10.2%
Australia	528	666	626	253	-21.7%
United States	88.3	450	286	146	18.2%
Venezuela	2,400	10,879	3,639	N/A	23.1%
Haiti	187	132	77.6	N/A	-35.6%
Others	284	670	761	615	29.4%
Total	4,608	14,680	8,935	3,106	-12.3%

Top Export Markets for Cereal Groats and Meal; of Maize (Corn) from Brazil in 2022:

Paraguay (2462.9 tons)
Angola (649.5 tons)
Cameroon (589.0 tons)
Barbados (458.8 tons)
Trinidad and Tobago (457.4 tons)
Australia (449.4 tons)
United States (251.4 tons)

Imports of Cereal Groats and Meal; of Maize (Corn) in Brazil

In 2022, purchases abroad of cereal groats and meal; of maize (corn)s decreased by -23.1% to 14 tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +1.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 34%. As a result, imports reached the peak of 18 tons, and then reduced rapidly in the following year.

In value terms, imports of cereal groats and meal; of maize (corn)s dropped sharply to $18K in 2022. Over the period under review, imports recorded a deep downturn. The most prominent rate of growth was recorded in 2021 with an increase of 20% against the previous year.