Bolivian government reaches agreement with rice producers to stabilize prices and supply

Published 2024년 9월 18일

Tridge summary

Bolivia is experiencing a significant increase in rice prices, with the market rate being twice as high as the price set by the Food Production Support Company (Emapa). This rise is attributed to speculation, profiteering, and reverse smuggling. In response, the government has entered into an agreement with the rice industry to cap prices until the end of the year, regulate market entry, and prevent speculation and smuggling by sealing packaging bags and monitoring financial resources for rice production. Jimmy Prado, leader of the Association of Owners of Montero and Northern Integrated Rice Mills, is optimistic that the agreement will effectively combat speculation and smuggling, and expects the government to reduce rice prices gradually.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Bolivia's La Rationale newspaper reported that in recent weeks, the price of rice in Bolivia has risen significantly, mainly due to speculation, profiteering and reverse smuggling. The Food Production Support Company (Emapa) sells rice at 50.5 bolivianos per bushel in its stores and supermarkets, while the market price is between 70 and 90 bolivianos. In order to stabilize rice prices, the government signed an agreement with representatives of the rice industry in Montero, which established several key points, including stabilizing rice prices until the end of the year, selling products exclusively to existing customers, and importing brown rice to ensure supply. At the same time, the agreement will also implement control measures to prevent speculation and smuggling. The packaging bags leaving the factory will be sealed to strengthen transportation supervision. In addition, financial resources will be managed to support rice production and guarantee agricultural investment and ...
Source: Foodmate

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