Brazil’s wheat imports have surged this year, with the past 12 months marking the highest import volume in four Years. In November, despite the nearing end of Brazil’s wheat harvest and rising import parity prices, foreign purchases remained robust. Cepea researchers attribute this trend to the greater availability of competitively priced wheat from Argentina. Brazil imported 427,530 tonnes of wheat in November, a 33% increase compared to the same month in 2023. Of this total, 79.5% originated from Argentina, the highest volume from the neighboring country in six months. Over the past year, Brazil imported 6.52 million tonnes of wheat, the largest amount since the 12 months ending in November 2020, when imports totaled 6.53 million tonnes, according to Secex data.
Source: Globo Rural/Datamar News