Brazil regulators have authorized outstanding biotech products needed to open Brazil for U.S. corn exports. U.S. Grains Council says Brazil has faced a significant shortfall in its current crop. Grains Council Chairman Chip Councell says the opening is beneficial for U.S. growers and for Brazil.
He says Brazil’s shortfall is an estimated 16 million metric tons less produced this year over the last growing season. Councell says that also happened with another trading partner.
Councell says one of the keys to the Brazil opening was the work of the Maizeall coalition that includes the U.S., Brazil and Argentina.
Councell says the Brazil market opening has the potential to lead to other market openings for biotech corn.
