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Wheat News - Brazil Extends Tariff For Free Wheat Quota as Argentinas Crop Shrinks
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Brazil Extends Tariff For Free Wheat Quota as Argentina's Crop Shrinks

Brazil has extended a tariff-free quota for wheat imported from outside the Mercosur trade bloc for another year, leaving the door open to other grain exporters as forecasts for this year's crop in neighboring Argentina continue to be revised lower. According to Brazilian wheat trade, the economy ministry's foreign trade chamber (Camex) will allow up to 750,000 mt of wheat imported from outside the South American trade group after November 18 to enter the duty-free country group Abitrigo. That is equivalent to just over 10% of Brazil's annual wheat imports, according to International Grains Council (IGC) forecasts. The extension of previous years' policy comes as neighboring Argentina, by far the biggest supplier of Brazil's imported wheat looks set to see its output shrink.