Brazil's rice exports fall 24% in the first two months, says entity

Brazil's rice exports fell 24% in the first two months of 2024, compared to the same period last year, according to the Brazilian Rice Industry Association (Abiarroz). In total, 182.1 thousand tons of cereal were shipped between January and February this year, compared to 239.4 thousand tons in 2023. Foreign exchange revenue also fell, from US$74.5 million to US$60.8 million in the same period. According to Abiarroz, the main cause of the drop in exports was the rise in rice prices in Brazil, which were above international prices. In February, rice exports totaled 98.5 thousand tons, with revenue of US$34.3 million. In January, shipments totaled 83.6 thousand tons, with revenue of US$26.5 million. Exports of processed rice also fell in the first two months, but to a lesser extent. In total, 156 thousand tons were shipped, a drop of 2% compared to the same period in 2023. Foreign exchange revenue was US$51.3 million, compared to US$47 million last year. The main destinations in the ...