Brazilian maize exports soar
Brazilian property could benefit from the news that exports of maize to the Arab countries reached some 53,600 tonnes last month, which hints at further economic boom in the nation, it has been reported.
Total exports of maize to League of Arab states totalled $13.5 million (£7 million) compared to nothing the same time last year, according to the ANBA.
In July 2007, Brazil did not export maize to the region.
Morocco and Egypt were reportedly the nations which imported the commodity from Brazil with purchases of £6.9 million and $6.5 million respectively.
"Brazil has been expanding its production and export of maize due to the high global demand and to the good prices of the product on the foreign market," the report explained.
According to the National Food Supply Company, Brazil is on course to produce 58.5 million tonnes of the crop this year.
It was reported by the news agency last week that Egyptian firm Electrometer invested $5 million in its first joint venture in Brazil.
