Brazil: With low seller interest, business with rice remains limited

Published 2023년 6월 16일

Tridge summary

The Brazilian rice market has been slow in the first half of June due to rice growers adopting a cautious posture. Despite the weak dollar, rice shipments are still good with around 62.6 thousand tons scheduled for the second half of June and approximately 76.7 thousand tons effectively shipped. Domestic consumption remains normal and the main destinations for shipments are Senegal, Mexico, and El Salvador. Exports of cereal in the husk are responsible for about 60% of shipments, while foreign sales of the processed and broken product are about 30% lower than the same period of the previous season. The average 50-kilogram sack of rice in Rio Grande do Sul closed at R$81.52, with a 5% drop compared to the same period last month and a 12.89% increase compared to the same period in 2022.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Porto Alegre, June 16, 2023 – The Brazilian rice market continued to face difficulties in reacting prices and ended the first half of June in a rather slow pace. “Rice growers adopt a cautious posture, waiting for better conditions before making their sales”, explains SAFRAS & Mercado analyst and consultant, Evandro Oliveira. “Despite the weakness of the dollar, which recorded accumulated losses in the last trading sessions and was quoted below R$ 4.80, rice shipments continue to show a good pace”, he ponders. According to the report of shipments in Brazilian ports, the line-up, there are around 62.6 thousand tons scheduled for the second half of June, while approximately 76.7 thousand tons have already been effectively shipped. In the domestic market, domestic consumption remains within normal limits, without showing significant signs of reaction. From March to June, the line-up projects the shipment of 434 thousand tons, against 631.294 thousand tons in the same period last ...

Source: Safras