National Commodities Supply Corp., of Brazil, known as Conab, says Brazil will import 1.9 million tons of U.S. wheat.
Jacinto Ferreira, president of Conab, says that a September frost limited
Brazil will need to import 7.9 million tons in 2007 in order to meet its annual demand of about 10.5 million tons.
"Production costs in Brazil and costs to import from Argentina and the U.S. are the same," Ferreira says.
Despite Brazilian wheat millers' attempts to convince the government to lower the U.S. wheat import tariff, the Trade Ministry has not discussed the issue, and a representative for Brazil's foreign trade commission says the topic is still not up for discussion.