Brazil Maize Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Maize is one of the key ingredients of almost every type of compound feed for animal types, such as ruminants, poultry swine, and aquaculture. Hence, the rising demand for animal-based protein sources is likely to drive the market for maize at a global level. Population growth, rising incomes in developing nations, and urbanization have led to a surge in the global livestock consumption. 

Consumption of animal protein have been found to be directly correlated to the consumption of milk, meat, and eggs, which is increasing at the expense of staple foods. The increasing pressure on the livestock industry has intensified in the recent years, to meet the rising demand for meat and high-value animal protein. Thus growing demand for animal based products indirectly contribute to the growth of maize market.

According to the FAO over the past decade, Brazil’s maize production and exports have undergone a tremendous boom. Total production increased from 85 million tonnes in 2014-15 to nearly 98 million tonnes in 2017-18. This growth in output has enabled the country to increase its maize exports continuously. 

The Brazilian economy is heavily dependent on agricultural exports, so the government has removed export duty on the agricultural produce. This will have a positive impact on the country’s maize exports. This increaisng export ooportunity encourages the maize production, which in turn impacts the market growth positively.