Brazilian wheat import in 2017 will be the largest in a decade, says Conab

© Reuters. Em foto de arquivo, máquina colhe trigo vermelho de inverno em Dixon, Estados Unidos

 Brazil's wheat import this year is expected to reach 7.2 million tonnes, the highest volume in about a decade after a crop failure in the country, the National Supply Company (Conab) said on Tuesday.
Brazil, one of the largest global importers of wheat, had already purchased large volumes of the grain in 2016, when imports totaled 7.09 million tonnes.
In normal years, Brazil usually imports about half of its consumption, estimated in 2017 at 11.3 million tons, according to Conab data,
On Tuesday, Conab revised up its import forecast this year by 200,000 tonnes compared to the November forecast, after reducing the nearly completed harvest forecast by almost 270,000 tonnes.
The estimated volume for 2017 is only below the import registered in Conab's historical series in 2006/07, when Brazil imported more than 7.5 million tons - at that time, Conab did not indicate the calendar year as a reference for numbers , but the crop year.
Imports of wheat from Brazil this year were dominated by Argentina, traditionally Brazil's leading supplier, with more than 4 million tonnes from January to October, according to data from the industry association Abitrigo.
Paraguay, the United States and Canada appear as smaller suppliers in the country.
With Brazil buying large volumes abroad, other suppliers, such as Russia, are eyeing the Brazilian market.
Technicians from both governments are discussing an opening to Russian wheat, while also negotiating a resumption of the Russian market for Brazilian beef.