Brazil can record a record volume in January Wheat export as local suppliers continue to fill the gap left by big global exporters - Russia and Ukraine - because of the war, Reuters reports.
In particular, the combination of the high harvest in Brazil and the decline in Argentina due to drought has stimulated Brazilian exporters, particularly in the state of Rio Grande do Sul, the largest wheat-producing region. So, according to Anec experts, Brazil can in January 803,8 thousand tons Wheat export, which if implemented will be a new record for this month. The previous export record was registered in January 2022 (695 thousand tons).
The main buyers of Brazilian wheat are Indonesia, Saudi Arabia and Sudan, which together import about 50% grain. Vietnam also imports significant amounts of product.
It should be noted that according to a forecast by StoneX experts, Brazil can export 2022 million tons of wheat in 23/3.
Source: APKinform (Ukraine)