Brazil has increased by 510% year-on-year its wheat exports worldwide from May 2022 to US$747 million, according to the Ministry of Industry, Foreign Trade and National Services.
The reduction in cereal exports from Ukraine has been partially offset by the increase in shipments from other providers.
For example, Brazil is expected to increase its exports of wheat and secondary cereals by an impressive 37% in 2022, according to the United Nations Conference on Trade and Development (UNCTAD).
In terms of volume, Brazil’s wheat exports climbed 331.9% in the first five months of the current year, year on year, to 2 million 453,000 tons.
The Federation of Russia and Ukraine are prominent players in the agri-food markets, including animal nutrition.
Together, they represent 53% of world trade in sunflower oil and seeds, and 27% of wheat, referred to UNCTAD.
A total of 36 countries import more than 50% of their wheat from the Russian Federation and Ukraine.
Ukraine exported around 50 million tons of cereals in 2021.
Before the war, estimates projected a 3% growth in world maritime cereal exports.
Now, without embargo, it is expected to decline by 3.8% in 2022.
The UNCTAD also predicts that global shipments of fertilizers and their inputs, such as potasa, will drop by 7% in 2022.
From year to May 2022, Brazil exported wheat to Saudi Arabia for a value of 150 million dollars and a volume of 504,969 tons.
Other highlighted destinations were: Indonesia (109 million dollars and 360,498 tons), Morocco (101 million and 332,044 tons), Vietnam (80 million and 252,153 tons) and Sudan (70 million and 218,020 tons).
Together, the United Kingdom and the European Union are prepared to increase their exports of wheat and secondary cereals by 8% during the same year.
It is planned to increase soy exports from Argentina, Brazil and the United States of America.
In the mean time, it can be expected that Australia, Brazil and the United States will compensate for the reduction in grain exports to North Africa and the Middle East.
Despite the general reduction in shipping volumes, it is likely that the demand for transport work will increase, ie, tons-mills, for food-importing countries, since alternative loads come from farther places.