Brazil Says It Will Import U.S. Wheat

Brazil's National Commodities Supply Corp. says the country will import 1.9 million tons of U.S. wheat.

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's wheat production to 2.24 million metric tons in the 2006 crop. Early estimates had the crop at about 4.8 million tons.

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. Brazil usually imports most of its wheat from the neighboring Argentina.

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.

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