High demand does not halt the fall in rice prices

The first week of December brought a slight recovery in the demand for husked rice in Brazil, with buyers seeking to replenish their stocks. However, the movement was not enough to curb the downward trend in cereal prices, which continues to be pressured by a scenario of uncertainty and cautious behavior on the part of producers. According to data released by Cepea, the CEPEA/IRGA-RS Indicator, which considers rice with 58% whole grains and immediate payment, registered a 0.77% contraction in the partial month up to December 8. The current quotation is close to the lowest levels ever observed by rice growers in Rio Grande do Sul, reaching levels similar to those of May 2011, when the deflated price reached R$ 48.26 per sack. On the supply side, the behavior of producers has been divided. While part of the sellers in need of capitalization accepted to negotiate at the values proposed by buyers, another portion remains away from the market, prioritizing the completion of sowing. The ...