Brazil authorized a new quota to import extra Mercosur wheat without tariffs

Argentine producers and exporters are worried about the new quota since Brazil is its main export destination. The Brazilian Ministry of Foreign Trade announced the validity of a new quota of 750K tons of extra-Mercosur wheat at 0 extra zone import duty.

Current Mercosur regulations state that wheat purchased outside the block must pay a common external tariff of 10.5%. According to official data, between January and August of last year, the Brazilian market accounted for 47% of the wheat sales made by Argentina, followed by Indonesia, Thailand, China, and Kenya, among other destinations.