Brazil: Dollar reaches R$ 5.50 and stimulates rice exports

Rice

Brazil

Published Jul 23, 2022

Tridge summary

Porto Alegre, July 22, 2022 – The Brazilian rice market had another positive week regarding prices. In the average of Rio Grande do Sul, the 50-kilo bag finished quoted at R$ 77.02, an increase of 1.82% compared to last week, 6.60% higher compared to the same period of the previous month and 5, 51% higher when compared to the same period last year.

Original content

“The US currency rose again, reaching the level of R$ 5.50 on Thursday, bringing greater impetus to export business”, explains SAFRAS & Mercado analyst and consultant, Evandro Oliveira. . According to the latest shipment report from Brazilian ports, approximately 75,900 tonnes of rice are scheduled to be shipped in July. For August, around 46.2 thousand tons of rice are scheduled to be shipped in the first half of the month. “The main destinations for Brazilian foreign sales continue to be Mexico, Venezuela and Senegal”, he lists. “For the month of August, there is also a shipment to Argentina”, he adds. According to the planting intention survey carried out by SAFRAS & Mercado, the area to be planted with rice in Brazil in the 2022/23 season should be 1.633 million hectares, which represents a decrease of 3.2% in relation to the from the previous crop. Average productivity may add up to 6,588 kilograms per hectare, compared to 6,468 kilograms in 2021/22. According to the analyst, ...

Source: Safras