Panama to lift price controls due to shortage of high-quality rice

Published 2024년 8월 15일

Tridge summary

The article highlights the discrepancy between the potential profit margin of 50% for high-quality rice and the actual profit margin of less than 7% in the market, as pointed out by Morto. The market is deemed unfair as consumers are buying low-quality rice, and the government is subsidizing non-existent products. From April 30, 2025, rice farmers will no longer receive incentives due to a high-quality rice shortage. The government is reviewing rice, corn, and milk projects to pay overdue payments to producers. The Agricultural Marketing Institute plans to improve rice quality and availability by conducting research, holding fairs, and building factories to increase rice supply capacity.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the report of Panama America on the 13th, Morto pointed out that the ideal profit margin of high-quality rice should be about 50%, but the current profit margin of this product in the market is less than 7%. Morto believes that there is obvious unfairness in the current market. Consumers have to buy low-quality rice, while the government is subsidizing some products that do not exist and are not sold. He further emphasized that the rice currently sold in the market is not subsidized rice, so there is no reasonable basis for the increase in rice prices and no room for speculation. At the same time, Roberto Linares, Minister of Agricultural Development (MIDA), announced that due to the shortage of high-quality rice, incentives for rice farmers will be stopped from April 30, 2025. He said that the government is conducting a comprehensive review of rice, corn and milk projects to ensure that overdue payments of US$45 million to US$50 million can be paid to producers. Nilo ...
Source: Foodmate

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