Rice market in Brazil: Limited business and expectations of abundant harvest

The Brazilian rice market registered a downward trend in the first week of December, pressured by the proximity of the new harvest, which promises to be robust due to favorable weather conditions. The approach of the end-of-year recesses, combined with the absence of industries, which further reduces market liquidity, contributes to the decrease in negotiations. According to Safras & Mercado analyst and consultant Evandro Oliveira, "producers' focus remains on the field", especially with exports being seen as fundamental to sustaining domestic prices. The recovery of exports will be crucial to boost the market, especially considering the possibility of expanding sales to countries such as Peru, which is facing a severe water shortage in the north of the country. In Rio Grande do Sul, the sowing of the 2024/2025 rice harvest reached 95.04% as of this week, with 901,361 hectares sown of the 948,356 hectares expected, according to the survey by the Rio Grande do Sul Rice Institute ...