Millers in Brazil do not want genetically modified wheat
SaskWheat outlook says new GMO wheat from Argentina could disrupt markets
By Jim Smalley
620CKRM, Oct 8, 2021
The latest SaskWheat [Saskatchewan Wheat Development Commission] outlook warns of a possible market disruption from a new genetically modified wheat in Argentina.
The outlook, prepared by Marlene Boersch of Mercantile Consulting, says controversy may be brewing around a new genetically modified wheat developed in Argentina to be drought-tolerant.
Boersch says Brazil buys six to seven million tons of wheat a year, usually from Argentina.
She says if Brazil refuses the Argentinian wheat, it could cause market disruptions and push prices downward.
There are reports millers in Brazil do not want genetically modified wheat.
Boersch says the net effect could be lower wheat prices as Argentina tries to compensate for higher freight costs to ship the GMO wheat overseas.