Brazil’s Rice Prices Surged by 38.81% YoY During W50 Due to Excess Rainfall

Rice

Brazil

Market & Price Trends

Published Dec 14, 2023

Brazil's rice prices surged by 38.81% YoY in W50 of 2023, reaching USD 1.04/kg, with a consistent upward trend since W36 and additional monthly and weekly increases. This increase is influenced by global and domestic factors, including India's reduction in rice exports and adverse weather conditions in Rio Grande do Sul, responsible for 70% of Brazil's rice production, leading to delays in planting the 2023/24 crop.

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