July 2, 2008

Brazil winter corn damage takes 1.9 million tonnes from crop

Damaging frost in south Brazil will take 1.9 million tonnes out of an originally estimated national corn crop of 53.4 million tonnes, the Agricultural Studies Center of the Getulio Vargas Foundation, a private business school, said Tuesday (July 1, 2008).

Brazil should now harvest 51.5 million tonnes, slightly less than the 52.3 million tonnes harvested last year.

Brazil plants corn twice a year.

The Center's economist, Mauro de Rezende Lopes, said the loss is not the reason for rising corn prices in Brazil and at least one major food company purchased large stocks of corn in advance to build up strategic reserves for chicken feed.