Global corn consumption is forecast to rise 25% over the next decade, according to a report released by Rabobank on Dec. 16. This is reported by ProAgro Group, citing Grain Trade.
The Netherlands-based financial services company also projects global corn trade to show even stronger growth, boosted by animal protein production growth, geopolitical tensions, and corn shortages resulting from adverse weather and constraints on acreage and yield gains.
With consumption set to rise, exported volumes from the main corn producers also are projected to increase, the report said. Brazil, Argentina, Ukraine, and the United States will benefit the most from this increase in global growth as all have further production potential, and Brazil is well-positioned to take the lead.
“During the next decade, South America will take the lead in corn area growth, while yields will play a major role in US and Ukraine corn production growth up to 2030,” said Marcela Marini, senior analyst, Grains & Oilseeds, Rabobank.
Area availability, yield potential, financial margins, and infrastructure to deliver corn to importing countries will be the key drivers for corn growth among these players. We estimate that corn production in the top four exporting countries will increase by 159 million tonnes to reach 682 million tonnes by 2030.
