Brazil has already been facing higher prices in wheat in both imports and domestic market, after the Russian government considers increasing the wheat export tax, which has affected global prices and boosted the values of the main players in the world, according to industry analysts and representatives. Data from the Center for Advanced Studies in Applied Economics (Cepea) showed on Monday (18) that the average price of wheat in Paraná was R$ 1,418.22 per ton. A week earlier, when the first report on Russian wheat export tax was released, the cereal was quoted at R$ 1,318.22. In parallel, in a week, the price for importing wheat from Argentina rose at least US$ 10 per ton, and has a chance to increase even more, said Roberto Sandoli, a management consultant at StoneX. The price of the wheat in Argentina is important as an indicator for Brazilian prices, together with solid exchange rates. These indicators help Brazilian producers seek better prices. Sandoli believes that the Russian wheat export tax will stop price drops at least for the first half of 2021.
Source: Reuters
*Translated by Ia Niani