Brazil appeals for Russian wheat
quarta-feira, novembro 23, 2022
Argentina is the largest supplier of wheat to Brazil, but severe drought, followed by several episodes of frost, is expected to reduce the harvest of wheat from the hermanos by up to 40% of the initial estimates, which should impact the Brazilian crop. Brazil, in turn, remains attentive and concerned about the context of the neighboring country.
The Rosario Grain Exchange (BCR) reduced Argentine production in the 2022/23 season to 11.8 million tons. According to BCR productivity should be the lowest in 15 years. It is worth remembering that in the last harvest, the country's production was 23 million tons of wheat.
Because of the drop in argentina's harvest, Brazil will need to turn to suppliers such as Russia, the United States or the European Union, experts predict. The crop break caused the price of Argentine wheat to rise near the harvest. "The plants in the Northeast, for example, started buying Russian grain, which is cheaper," says Christian Saigh, vice president of the Wheat Industry Union of São Paulo (Sindustrigo).
Source: Agrolink
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