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Grain: World Markets and Trade
Foreign Agricultural Service Circular Series
FG 02-03
February 2003
Corn Competition Gets Tough
Global corn trade is a very different picture from four years ago, when the United States commanded over three-quarters of the world’s markets. Since 1998/99, total world trade has expanded by 7 million tons to 75.7 million, while U.S. exports have shrunk by 5 million tons to 47 million. China, Argentina, and Brazil have gained markets at the expense of the U.S.
China’s ample exportable supplies, combined with a freight advantage and government support, have enabled the country to dominate key Asian markets such as South Korea, Malaysia, and Indonesia. In South Korea, China has replaced the United States as the principal supplier. Higher U.S. prices this year have helped China maintain an aggressive export program. Despite an obvious transportation advantage, whether China will sustain its strong export pace will depend on new government support yet to be determined.
Meanwhile, Brazil has gone from an importer four years ago to a net exporter. Argentina has been expanding into Middle Eastern/North African markets that have traditionally had a strong U.S. presence, such as Egypt, Saudi Arabia, and Tunisia. Improvements in Argentina’s transportation infrastructure will help the country maintain its competitive edge, whereas Brazil’s export position will depend on production expansion outpacing rising domestic consumption.
Complete Grain Report in PDF: Text and Tables
The Grain: World Markets and Trade circular series no longer includes a printed version of the Historical Data Series for Selected Regions and Countries. Beginning with the January 2003 publication, these historical tables will be available only electronically. The historical tables, along with an electronic version of the Grain: World Markets and Trade circular are available via the FAS website (http://www.fas.usda.gov/grain/). The printed version of the circular will continue to include the Summary Tables and the Situation and Outlook reports.
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Data in this report is available in both Adobe Acrobat and Lotus 123 formats. You may need to Get the Adobe Acrobat Reader. |
| Download the trade tables in Lotus 123 version 3 format. Please note that some versions of Netscape Navigator will change the filename extension; if this happens, you MUST rename the file to .wk3 to access it. |
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