News

Wheat/Cepea: Low supply of quality wheat in Brazil increases imports

Wheat
Grains, Cereal & Legumes
Brazil
Market & Price Trends
Published Feb 27, 2024

Tridge summary

Brazil is witnessing a surge in wheat imports due to a shortage of quality wheat in the domestic market, with purchases in February 2022 surpassing those of February 2021. Despite many mill agents having sufficient supplies, there is a demand for higher quality wheat. This increase in imports, especially from Mercosur countries, is attributed to unfavorable weather conditions impacting the Brazilian harvest. However, low domestic prices and recent productivity losses may deter wheat sowing in the upcoming season.
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

Amid the low supply of quality wheat on the domestic market, Brazilian imports of the cereal are booming. Until the third week of February, national purchases of the product totaled 383.95 thousand tons, above the 291.63 thousand tons purchased in the entire month of February last year – Secex data. According to Cepea researchers, even though many mill agents appear to be supplied, active spot buyers are looking for higher quality wheat – however, the unfavorable weather hampered the development of the Brazilian harvest, increasing the import of the product, especially of Mercosur countries. On the selling side, producers are ...
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