China’s demand for corn has increased 39-fold between 2009 and 2013. Historically the U.S. has supplied 90% of China’s corn imports, however in a move to broaden its supply, China has agreed to allow sizeable corn imports from Brazil. The agreement with Brazil signed on March 31st follows similar agreement signed with Argentina and Ukraine in 2012 and 2013. Brazil and Argentina have sold China small shipments of corn in the past but the signed China-Brazil phytosanitary pact will open the way for shipments that could equal hundreds of thousands of tons per month. In 2011 the U.S., Myanmar, and Laos were the only countries to supply China with shipments of corn exceeding 10,000 tons. Since then China has added Ukraine and Argentina to its large-scale suppliers, then added Brazil at the end of March. China continues to look to sign supply agreements with other countries including India and Russia.
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