In March, Uruguay faced significant rainfall that resulted in a loss of 300 to 400 kilograms of rice per hectare, impacting the expected yield to range between 8,700 to 8,800 kilograms per hectare. By early April, approximately 40% of the rice fields designated for the 2023/2024 production cycle had been harvested, with the sowing area estimated at 150,000 hectares, marking a slight increase from the previous year. Uruguay, a major player in the global rice market that exports 95% of its rice and is the eighth largest rice exporter worldwide, managed to export 1 million tons of rice valued at US$597 million in the last production cycle. The country's primary export markets include Brazil, Panama, Venezuela, Belgium, Mexico, and Peru. For 2024, the export value of rice is anticipated to hit a record high of US$710 million.