The United States, China and Brazil were the leading corn producers in 2023 and will remain so in 2024.
Data and estimates are from the Food and Agriculture Organization of the United Nations (FAO).
World demand
According to the United States Department of Agriculture (USDA), global corn consumption increased 617% from the 1960/1961 crop year to 2023/2024. Moreover, this trend is expected to continue in the coming years.
This growth in consumption is due to several key factors. First, the increase in world population is significant. The U.S. Census Bureau estimates that the population will reach 9.7 billion people by 2050. Second, the expansion of the global middle class is driving demand for protein and meat products, especially in developing countries. Finally, the use of biofuels, such as ethanol in the United States, is also on the rise.
In conclusion, the combination of these elements is transforming the global corn consumption landscape.
Major Corn Producers
The United States is positioned as the world’s leading corn producer and exporter. For the 2023-24 crop year, the USDA estimates that the United States will produce about 32% of global corn. Of that production, approximately 14% will be destined for export.
These are the top 10 corn producers in 2022, with their estimate for 2023 and their projection for 2024 in parentheses respectively, in million tons:
- United States: 348.8 (389.7 and 377.5).
- China: 277.2 (289 and 292.2).
- Brazil: 109.4 (131.9 and 111.6).
- Argentina: 59 (41.4 and 56).
- India: 33.7 (35.5 and 37).
- Mexico: 26.6 (25.8 and 24.5).
- Ukraine: 26.2 (30.5 and 27.5).
- Indonesia: 23.6 (23 and 23.2).
- South Africa: 16.1 (16.4 and 14).
- Russia: 15.9 (15 and 15).
Importers
As for the main importers, Mexico, Japan, the European Union, South Korea, Egypt and several regions of Southeast Asia stand out. It is worth mentioning that China’s production is approximately 6% lower than its domestic consumption.
In 2022, world corn production was 1,178.3 million tons.
FAO estimates that this production grew to 1,238.2 million in 2023 and projected that it will drop to 1,222 million in 2024.