Imported wheat prices in Brazil fall to lowest since November 2020

Data from Secex, analyzed by Cepea, show that in September, the price of imported wheat in Brazil was the lowest since November 2020. The average price reached US$230.09 per tonne, equivalent to R$1,235.12/t, based on the exchange rate of R$5.368 for the month.

In the same period, the average domestic price of wheat in Rio Grande do Sul, according to Cepea’s survey, was R$ 1,259.39/t, indicating greater competitiveness of imported wheat compared with Brazilian production.

Brazil imported 568.98 thousand tonnes of wheat in September, accumulating 5.249 million tonnes so far this year — the highest volume for the period since 2007, according to Secex data analyzed by Cepea.

Amid an increasingly competitive international market, researchers note that negotiations involving domestic wheat remain slow and prices are under pressure.

Source: Compre Rural

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