date:Feb 24, 2014
ury. Argentina was forced to restrict exports to satisfy its domestic demand. With Argentina out as a supplier, Brazil temporarily reduced its Common External Tariff (TEC) for non-Mercosul countries from ten to zero percent from April to December of 2013 to encourage imports.
With record production in 2013, the United States filled the gap in demand and took advantage of the temporary reduction of the tariff by exporting 3.48 mmt of wheat to Brazil. U.S. wheat constituted 48 percent of Bra