According to research by Brazil’s Supply Company (Conab), Brazil’s wheat imports are predicted to increase by about 9% in 2024 compared to 2023, reaching their largest volume in five years, due to weather issues in the major producing states that affected the cereal’s quality. In comparison to the November forecast, Conab increased its estimate of Brazilian wheat imports by 200,000 tons, to 6.2 million tons. This volume is second only to the expected 6.7 million in 2019, taking into account the previous few years. As the wheat harvest is almost complete, Conab estimated that national production will be roughly 8 million tons, which is approximately the same as in 2023.
Sources: Reuters/Notícias Agrícolas (*Translated by Ia Niani)