French corn exports to EU at new high

French corn exports to the EU in November reached their highest for the monthly since June 2015, supported by France's bumper corn output and reduced supply from Brazil and eastern Europe this marketing year, which runs from July-June.

France exported 528,000t of corn — excluding seeds — to EU member states in November, up from 322,100t a month earlier and 266,000t a year earlier, French customs data show.

Spain remained the highest importer of French corn in November, with its receipts totalling 175,000t. Spain also recorded the highest month-on-month increase in imports, with its November receipts 62,000t above those in October.

Italy recorded the second sharpest monthly increase, with its imports totalling 68,000t in November, more than triple the 21,000t it received a month earlier.

France stepped up its exports following a bumper harvest, with its production this marketing year totalling 14.22mn t, up from 12.53mn t a year earlier and 12.04mn t in 2019-20, according to data from FranceAgriMer, a government agency for agriculture and sea products.

France's bumper output came at a time when member states in eastern Europe — Hungary in particular — saw their production drop on the year, following unfavourable weather conditions in the summer. Hungarian corn output fell to a four-year low of 7.59mn t from 8.38mn t a year earlier, EU Commission data show.

High French exports also come during a year of reduced supply from Brazil — traditionally the largest supplier of corn to the EU. The EU imported 3.08mn t of corn from Brazil on 1 June 2021-3 January 2022, down from 4.42mn t during the same period a year earlier. Imports from all key origins have fallen on the year, except those from Ukraine.

Exports in November brought France's total shipments to the EU since July to 1.38mn t. The country is projected to export 4.87mn t to EU member states in 2021-22, under FranceAgriMer estimates, implying shipments should total 3.49mn t in December-June (see chart).

By Bilal Muftuoglu

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