China is increasingly looking to South America to satisfy its insatiable appetite for grains.
The Asian powerhouse nation’s corn imports reached a record monthly all-time high of 5m tonnes last December, supported by Brazil’s corn export boom, according to Braemar.
The shipbroker pointed out that while the US and Ukraine were the two main sources of corn for China in 2022, Brazil, which supplied a mere 1% in 2022, muscled in to supply an estimated 56% of the 27.1m
