News

Brazil: Amid restricted supply, rice prices in Rio Grande do Sul continue to advance

Rice
Brazil
Sustainability & Environmental Impact
Market & Price Trends
Published Apr 20, 2024

Tridge summary

Rice prices in the market have remained firm at the beginning of the harvest season due to delays and challenges brought on by irregular weather conditions, resulting in significant losses and reduced quality of harvested grains. According to analyst Evandro Oliveira from Safras & Mercado, the market is experiencing price indications of up to R$ 115.00 per bag for noble rice, with a lower quantity and quality of harvest than expected. Retail prices for white rice, Type 1, are ranging between R$23.00 and R$28.00 per 5 kilo package, with noble brands going over R$ 30.00. The high dollar rate is making imports less attractive, thus providing some relief for the domestic market. In Rio Grande do Sul, the average price for a 50 kilo bag of rice has significantly increased compared to the previous week, last month, and the same period in 2023.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

At the start of the harvest, rice prices remain firm in the face of challenges with the delay in harvesting impacted by irregular weather conditions. “Amidst increasingly tight stocks, significant losses have been reported, with a drop in the quality of harvested grains due to the lodging of crops”, reports Safras & Mercado analyst and consultant, Evandro Oliveira. Given this, the market remains firm, with price indications of up to R$ 115.00 per bag for noble rice, with more than 64% of whole grains and special payment deadlines. “This upward trajectory in prices is precisely due to the harvest being smaller in quantity and quality than initial projections, with rumors of approximately half a million tons having already been lost”, explains Oliveira. Industries are readjusting prices and must present new tables for replacements. In retail, despite the occasional relief on the shelves, white rice, Type 1, is being sold between R$23.00 and R$28.00 per 5 kilo package for commercial ...
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