May 14, 2020

 

Brazil wheat stocks to plunge to record low

 

 

According to Reuters, Brazil's final 2020 wheat stocks are predicted at 170,000 tonnes, the lowest in history, an official at government food supply and statistics agency Conab said on Tuesday.

 

Brazil will purchase more wheat than ever as the global COVID-19 pandemic increases domestic appetite for bread and other flour-based products.

 

Imports into Brazil, mainly from neighbouring Argentina, are expected to reach the hitherto unseen level of 7.3 million tonnes in 2020, Conab data showed.