Brazil Considers Importing U.S. Corn

Brazil’s Ministry of Agriculture, desperate to open new feed supplies for the livestock industry, is asking the country’s biotech regulatory agency to temporarily lift restrictions on corn imports from the U.S., according to USDA’s Foreign Agriculture Service.

Brazil’s second yearly corn crop looks worse as the harvest continues, and fears are emerging that Brazil will run out of corn by 2017, FAS said. As a result, the Brazilian Agriculture Ministry has asked the country’s National Biosafety Technical Commission to allow imports of U.S. corn from September through November.

The CTNBio will meet September 1 to decide the matter, and it’s feeling political pressure to grant the request, FAS said.

Among Brazil’s challenges are drought and a weak currency that’s driving farmers to sell more corn overseas. These factors have pushed domestic corn prices to record highs and resulted in Brazilian pork and poultry producers cutting production.  Source: Agri-Pulse Communications