Brazil should rank tenth in the wheat export market, according to analysts from the University of Sao Paulo’s Applied Economics Research Center (Cepea). Brazilian exports reached a record 3.1 million tonnes, a volume above 2021 figures (1.13 million tonnes). The Foreign Trade Secretariat (Secex) disclosed the information on Jan 2. Brazil has broken wheat export records but is still highly dependent on the foreign market, mainly Argentina. According to the USDA (United States Department of Agriculture), Brazilian exports will exceed India’s exports by 3.5 million tonnes. The US agency takes into account exports from July 2022 to June 2023. According to the Brazilian Institute of Geography and Statistics (IBGE), after a record wheat harvest of 9.6 million in 2022, Brazil should harvest 8.4 million tonnes this year.
Sources: Estado da Bahia/Datamar News