January 3, 2014
US corn exports to Latin America grow further
US corn exports to Latin America continue to rise with Mexico, the second-largest US corn market, is the largest contributor to this market change, importing one billion tonnes more than in 2012.
According to the USDA, the Western Hemisphere's accumulated US corn imports were more than 1.7 million tonnes ahead of last year at this same time [prior to December holidays].
"It is exciting to see how free trade agreements lead to increased exports for farmers," said National Corn Growers Association Trade Policy and Biotechnology Action Team Chair Jim Zimmerman. "The work done on a policy level is having a direct impact upon markets for corn. Right now, farmers clearly understand the importance of fostering all markets, particularly given the incredible abundance grown in 2013. Tearing down the barriers that allow our customers abroad access to our supply only makes sense for American agriculture and America's economy."
While Mexico dwarfs other importers, both Colombia and Peru show significant increases of US corn imports. These two dramatic turnarounds can be attributed to free trade agreements that removed trade barriers and made US corn a more attractive and competitively priced product.