Brazil Lifts Tariffs on Wheat Imports Through June, Valor Says

By Romina Nicaretta
Feb. 7 (Bloomberg) -- Brazil lifted tariffs on wheat imported from countries outside of the Mercosur trade bloc in a bid to stem inflation, Valor Economico reported.
The duties will be suspended until June 30, when Brazil starts harvesting its wheat crop, Valor said, citing Edilson Guimaraes, economic policy secretary at the Agriculture Ministry.
Brazil produced 3.8 million metric tons of wheat in the crop harvested in the second half of last year, Valor said. Brazil consumes 10.2 million tons a year, the newspaper said.
Argentina is Brazil's largest wheat supplier, and Canada and the U.S. are the biggest sources outside Mercosur, Valor said. Mercosur is made up of Brazil, Argentina, Uruguay and Paraguay.