Brazil’s domestic corn market is experiencing a significant price increase, according to the Center for Advanced Studies in Applied Economics (Cepea) at Esalq/USP.
The Cepea index, based in the Campinas (SP) region, reached R$ 68.77 per 60-kilogram sack last Friday (October 18). This value reflects a 6.95% increase since the beginning of October, approaching the R$ 70 mark, a level last seen on January 9.
Cepea researchers attribute the price surge to sellers withholding stock and buyers needing to replenish inventories. They also highlight that the rising prices are occurring despite progress in summer crop planting and weather forecasts predicting rain across key production regions.
A report from the National Supply Company (Conab) projects that aggregate corn production for 2024/25 will reach 119.74 million tons, representing a 3.5% growth compared to the 2023/24 season.
