NEWS
South America Calling
Alastair Stewart South America Correspondent
Wed Jun 25, 2014 11:32 AM CDT

Brazil has cut import tariffs on 1 million metric tons of wheat from outside the Mercosur trade bloc in order to ensure domestic supply and to keep prices down.

Millers will have until Aug. 15 to import wheat free of the 10% tariff from the U.S. and Canada.

Brazil is one of the world's biggest wheat importers, traditionally relying on Argentina for most of its supplies.

But losses to the Brazilian 2013 harvest combined with lower production and limited availability from Argentina, Uruguay and Paraguay, which make up the other members of the Mercosur trade bloc, has forced Brazil to ...

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