According to the foreign trade report recently released by the Paraguayan Association of Exporters and Marketers of Food and Oilseeds (Capeco), Paraguay exported more than 1.4 million tons of corn last year, down 27% from the same period in 2017.

Paraguay’s El País reported on January 19 that the report showed that Paraguay’s domestic corn processing business increased significantly last year, but corn exports declined. About 56 companies have exported a total of 1,402,963 tons of Paraguayan corn, including multinational companies, foreign companies, domestic enterprises and cooperatives.

In terms of the export destinations, Brazil is Paraguay’s top corn export destination. Of the more than 1.4 million tons of corn exported by Paraguay last year, 648,850 tons were shipped to Brazil, accounting for 46% of the total export volume. Secondly, Uruguay (212,807 tons) and South Korea (135,669 tons) are Paraguay’s second and third largest export destinations of corn, accounting for 15% and 10% of Paraguay’s total corn exports last year, respectively. In addition, Chile accounted for 5% of Paraguay’s corn exports last year, while Saudi Arabia, Egypt and Germany accounted for 24%.