Brazil: July sees highest rice exports, but deficit widens

Published Aug 20, 2024

Tridge summary

In July 2024, Brazil's rice exports saw their best performance of the year, reaching 175 thousand tons and generating revenue of US$ 70.1 million, as reported by the Brazilian Rice Industry Association (Abiarroz). Despite this, the trade balance shows a deficit due to imports exceeding exports. The value of total exports for 2024 has decreased by 16% compared to the previous year. Processed rice exports also experienced a good month in July, with a increase in volume and value compared to July 2023. However, high domestic prices and increased competition from other countries have led to a decrease in demand for Brazilian rice, resulting in Mexico no longer being a customer and an expected deficit in the trade balance by the end of 2024.

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

Original content

(By Planeta Arroz, with Abiarroz) Rice exports (husk base) had the best result of 2024 in July. Last month, shipments reached 175 thousand tons, with revenue of US$ 70.1 million. This is what the Brazilian Rice Industry Association (Abiarroz) reports, based on data from the Ministry of Development, Industry, Commerce and Services (MDIC). Sales, however, did not exceed the cereal's landings in Brazil, since total imports in the month reached 205.8 thousand tons. The deficit in the Brazilian trade balance already reaches 293,538 tons. From January to July, the country received 1.024 million tons and shipped 731.4 thousand. Shipments so far are 26.5% lower than between January and July 2023. Despite having the best performance of the year, external rice sales in July were slightly lower than those made in the same month of 2023. In volume, the decline was 2.7% and in revenue, 8.9%, points out Abiarroz. Considering the total exports of 2024, there was a drop of 16% in value and 26.5% ...

Source: Planetaarroz