No relief, Brazil's wheat mills indicate more inflationary pass-throughs

By Nayara Figueiredo SAO PAULO (Reuters) - Brazilian mills have not experienced a recent easing in foreign wheat prices and are expected to make further price readjustments on flour to consumers at least until the national harvest arrives, with a direct impact on inflation, according to industry insiders. and experts consulted by Reuters. At the end of last week, wheat traded on the Chicago Stock Exchange fell to levels not seen since the beginning of the war in Ukraine, with greater supply in the Northern Hemisphere. Brazil, however, is experiencing the peak of the off-season, and the impact of the lower foreign price was limited. “Not yet, the price is not below the pre-war period”, said Fabio Cefaly, director of New Business and Investor Relations at M. Dias Branco, the leading biscuit and pasta company in Brazil and also one of the largest milling groups. of wheat in the country. “We saw a reduction (in the external price), but it is still very volatile… and the local producer ...