Paraguay resumed wheat export to Vietnam in January

Wheat

Grains, Cereal & Legumes

Paraguay

Market & Price Trends

Published Feb 24, 2024

Tridge summary

Paraguay has recommenced wheat exports to Vietnam, contributing to a 9% share of exports to Vietnam, Bolivia, and Uruguay, while Brazil remains the primary destination with 91% of exports. Despite a slowdown in wheat exports due to producers focusing on the soybean harvest and expected price improvements, there was a year-on-year increase in volume shipped in January 2024, generating USD 7 million in foreign exchange income. The 2023 harvest yielded 120,556 tons in four months, a significant increase from the previous harvest. Paraguay's wheat is primarily used for industrial purposes, with an internal consumption of 650,000 tons per year, leaving a small surplus for grain export.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Lic. Sonia Tomassone, Foreign Trade advisor at Capeco, pointed out that at the beginning of 2024, the shipment of wheat to the Vietnam market has resumed, which together with exports to Bolivia and Uruguay accumulated a 9% share. Brazil continues to be the main destination with 91% of the total exported. Regarding shipments, Tomassone highlighted that wheat exports are slowing down because, as is the case with corn, producers are focused on the soybean harvest, so they are slowly marketing the remainder of the harvest. 2023 and, in addition, they also expect improvements in prices, there was an increase in the volume shipped, compared to the same previous period. Paraguay exported 36,084 tons in January, 18,843 tons more than those sent in the first month of last year (17,242 tons). This movement generated a foreign exchange income of USD 7 million, that is, USD 1.5 million more than the same previous period, when USD 5.5 million were recorded. On the other hand, it is highlighted ...

Source: Productivacm