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AMIS Market Monitor

last release: March 2017

Policy Developments

  • The Bank of Brazil will provide financial support to wheat producers from the Southern provinces, which incurred debts from the 2016/2017 wheat crop. The loan repayment is due within six months and the interest rate is set at 8.75 percent per annum, similar to the rural credit scheme. Meanwhile, farmers who have payments due in the period January-April may apply for the Producer Price Guarantee Fund – i.e. the former Federal Government Loan (EGF). 
  • As part of the Economic Partnership Agreement between the European Union and the Southern African Development Community (SADC), duty-free tariff quota access was granted for 300 000 tonnes of European wheat into members of the Southern African Customs Union (SACU). Tariff quota imports started on 1 February will run until 30 November 2017, and are being channeled through designated South African and Namibian ports of entry. 
  • On 15 February, the Ministry of Consumer Affairs, Food and Public Distribution of India established a wheat procurement target of 33 million tonnes to be met by the Food Corporation of India during the 2017-18 Rabi marketing year, which represents a substantial increase to replenish public stocks compared to the 22.96 million tonnes set for the previous year.
  • On 20 February, India announced that after 31 March 2017 the fumigation policy currently applied on French, Russian and Ukrainian wheat shipments at Indians ports will be modified. Starting from 1 April, the plant On 16 February, the Mexican Secretary of Agriculture announced a preliminary agreement with the Russian Federation for the resumption of meat deliveries in exchange of wheat imports from Mexico. The head of the Mexican sanitary service indicated that the supply of meat would be of around 200 000 to 400 000 million tonnes. Mexican meat exports were restricted by the Russian sanitary agency since 2012.