In January 2023, Brazil could reach a new wheat export record, thanks to the large volume harvested in the last harvest, estimated at 9.8 million tons, a volume 27.2% higher when compared to the previous harvest.

The result is influenced by the growth of the area and the good weather conditions for the crop, which gained a large share of customers since last year, due to the war between Russia and Ukraine and, in addition, the drop in production in neighboring Argentina. .

These facts influenced grain importers to see Brazil as a credible supplier, which favored gaining space in the markets. In particular, Indonesia, Saudi Arabia and Sudan account for around 50% of Brazilian exports. Vietnam is also a big buyer.

Brazilian wheat prices in dollars at the port are one of the most competitive in the world and have even been more attractive than those in Russia. However, due to freight issues, in most destinations, Russian wheat ends up being the most competitive globally. Even so, the countries of North Africa, the Middle East and Southeast Asia continue to be the main destinations for cereal from Brazil.