April 11, 2014
Brazil's wheat harvest forecast to reach record high in 2014-15
Increased planting acreage is expected to boost Brazil's next wheat harvest to a record high, as farmers are switching some ground for corn to wheat, according to the country's official crop agency Conab.
Brazil is forecast to harvest 6.7 million tonnes of wheat in 2014-15, a 22% jump from last year and will surpass the record of 6.1 million tonnes set 27 years ago, Conab said.
The forecast reflected the growing popularity of wheat in the country, with the planting acreage set to increase by 14.2% to 2.52 million hectares.
Brazill boasts strong demand for the crop, as the country faces the dearth of exports from neighbouring Argentina.
As a result, buyers were seeking supplies elsewhere. The biggest beneficiary is the US, which exported 3.74 million tonnes of wheat to Brazil in 2013-14, with 240,000 tonnes on order.
During the last season, Brazil's harvest was hurt by s series of frosts.