(Food-Beverage-News.Com, October 23, 2020 ) Globally corn industry is growing with a healthy growth rate, and it is expected to reach US$ 199 Billion by the end of the year 2026. United States, Brazil, Argentina and China are the major corn producing countries. The United States accounts for the lion’s share globally in terms of corn production and Export. Other than the USA, Ukraine, Argentina, Brazil and Russia are few other countries who are also significant exporters of corn worldwide.
Factors Driving the Corn Industry Worldwide:
Growth:
• Increasing Demand for Corn-Based Ethanol Production • Rising Incidence of Pests • Potential of Maize in improving farmers’ income
Challenges:
• Climate Change Impacts on Corn
In terms of imports Japan, European Union, Mexico, Egypt, South Korea, Iran, Columbia, Vietnam, Taiwan, Algeria rely heavily on imports of corn. In these countries, the corn is mostly used for end-use sectors like the animal feed and corn starch markets.
United States, China, Brazil, Russia, and the European Union regions have the highest consumption of corn globally. The growing market for corn in the United States is due to the ever-increasing feed sector and the industrial sector. Strong meat exports is projected to stimulate animal production and to increase corn use in Brazil. Since the outbreak of African swine flu a few years ago, the Republic of China rebuilding of the hog sector has been faster than the prior projection which has been fueling feed demand in this region. In Russia, production of corn is mostly used in the domestic market; primarily large supplies are from the Central District.
Covid-19 Impact on Corn Industry
In the global corn market, Covid-19 has not impacted much on this industry. There has been marginally surge in export, import as well as in production during this period.
Renub Research report titled: “Global Corn Market, By Production (United States, China, Brazil, European Union, Argentina and Rest of the World), Consumption (United States, China, Brazil, European Union Mexico and Rest of the World), Export (United States, Argentina, Ukraine, Brazil, Russia and Rest of the World), Import (Japan, Mexico, European Union, South Korea, Egypt, Iran, Vietnam, Taiwan, Columbia, Algeria and Rest of the World) Company (Cargill, Ingredion Incorporated, Archer Daniels Midland , Tate & Lyle, Agraha)” prvides an all encompassing analsis of Global Corn Industry.
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