Brazil is set to overtake the U.S. this year as the world’s most prominent corn exporter, a move that took years of clearing logistic obstacles.
A 2013 law encouraged grain traders in Brazil to build out new private port terminals. Since then, around $8 billion has been spent to build or expand 112 new facilities. One of those grain terminals helped boost grain export volumes by more than 300 percent.
Last year, it moved 13 million tons of goods. However, storage has not kept up with the country’s production.
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While this adjustment is substantial in percentage terms, according to David Widmar with Agricultural Economic Insights—it is part of the natural ebb and flow of the agricultural economy.
