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Cargill Key to Zimbabwe’s Mexican Corn Call

Ags - Grains/Beans 237 Brazil 332 Consumer Staples 590 Coronavirus 380 Mexico 709 U.S. 4478 Zimbabwe 2

The government of Zimbabwe will start corn imports from Mexico, South Africa and Ukraine in response to the latest harvest failure. It’s notable that the U.S. and Brazil are not included in the plans despite exporters in both countries looking for market opportunities after the loss of customers in China and Japan respectively. Additionally Mexico was a net importer of corn in the 12 months to Oct. 31 with $3.15 billion of imports and just $230 million of exports. The largest exporter from Mexico in the Jan. 2016 to Oct. 2019 period was Cargill with 25.7% of shipments. It may choose to d...

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