EU's Corn-Buying Spree Is Boosting Rare Trade With South Africa
- Imports from South Africa forecast to jump to seven-year high
- Spain has been only recent buyer; Italy is also seen importing
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Europe’s hunger for corn is giving South Africa a surprising destination to sell more of its record crop.
Africa’s top corn grower typically doesn’t export much to the European Union due to the long shipping distance and uncompetitive cost. But last year’s big harvest has cut prices, and should help South Africa ship more to the EU than in the previous six years combined, according to Strategie Grains.