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Argentina reduced its wheat harvest by 40%.
Argentina is the largest supplier of wheat to Brazil, but the severe drought, followed by several episodes of frost, is expected to reduce the brothers' wheat harvest by up to 40% of initial estimates, which is expected to impact Brazilian cultivation. Brazil, in turn, remains attentive and concerned about the context of the neighboring country.
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The Rosario Grains Exchange (BCR) reduced Argentine production in the 2022/23 season, to 11.8 million tons. According to BCR, productivity should be the lowest in 15 years. It is worth remembering that in the last harvest, the country's production was 23 million tons of wheat.
Because of the Argentine crop failure, Brazil will need to turn to suppliers such as Russia, the United States or the European Union, experts predict. The crop failure caused the price of Argentine wheat to rise close to the harvest. “The plants in the Northeast, for example, started to buy Russian grain, which is cheaper”, says Christian Saigh, vice-president of the São Paulo Wheat Industry Union (Sindustrigo).
Source: Iara Siqueira | agrolink
