February 6, 2009

Brazil's government is assessing the possibility of importing wheat from Russia this year, local news agency Estado reported Brazil's Minister of Agriculture as saying Thursday (February 5).

Minister Reinhold Stephanes confirmed that Brazil is looking for new suppliers this year due to the recent drought in Argentina that has destroyed a large part of the wheat crop, Estado reported.

Brazil is a net importer of wheat, depending on Argentina to supply most of its local demand. The country consumes around 11 million tonnes of wheat annually.

Russia is interested in selling wheat and fertiliser to Brazil, while Russia wants to hike imports of Brazilian beef, Estado reported Stephanes as saying. A Russian trade mission will visit Brazil in May, reported Estado.

The Ministry of Agriculture was unavailable for further comment.

Brazil's 2008-09 wheat crop should be around 6.03 million tonnes, the National Commodities Supply Corp, or Conab, said Thursday.