Coarse Grain S&D
- Total corn demand is 12.1 mmt, of which 5.4 mmt (45%) imported.
- Domestic corn production primarily white corn for food use; yellow corn imported for feed use.
- Domestic production steadily increasing, grew 12% in past 10 years.
- U.S. corn market share variable with growing competition from Black Sea origin.
- 5% import duty on grain sorghum; sorghum not widely known as a feed ingredient.
- Grain inspection system closely mirrors GIPSA/FGIS.
- Political turmoil stymieing investment in industrial and agricultural sectors.
- Population: 82.1 million
- Population growth rate: 1.96%
- High unemployment
- GDP growth: 5.1%
- GDP per capita: $6,200
- World’s fourth largest corn market.
- Currency devaluation, poultry and livestock disease and global economic downturn over past 10 years suppressed demand.
Market Growth Potential
- Political and economic stability uncertain.
- Phyto-sanitary measures in place to control animal disease.
- Demand for poultry, eggs, red meat and dairy growing.
- Aquaculture sector evolving.
- Opportunity to increase DDGS imports; market currently limited to two suppliers.