Mercosur forecasts excellent rice crop, but with India back in the market, prices are expected to fall

Mercosur is expecting one of the best rice harvests of the last decade, and particularly in Uruguay (exporter of prime quality rice), yields of harvested fields are indicating possible new records. However Uruguay rice farmers are facing trade, price and logistics hurdles, according to farmer Karol Pinczak. “Harvesting is ongoing at a good pace, particularly in the north of the country with 70%, compared to 55% at national level. We’ve had some problems with rain, but this has not impeded harvesting at one of the best maturing moments for the cereal.” Pinczak added that yields so far are encouraging, “on average 9,000 kilos per hectare, which is 10/15% higher than the previous harvest, and even when it has not been a record planting year, with the 180.000 hectares, we should have a record crop”.. However foreign markets are much less dynamic, “since India has re-emerged as a global supplier. India dominates world stocks and when they come in to the market, prices go down and ...