Brazil: Rice could be 20% cheaper next month, says Federal Government

Rice

Brazil

Market & Price Trends

Published Mar 15, 2024

Tridge summary

The Brazilian Federal Government is expecting a 20% decrease in rice prices in the coming weeks, following a meeting between President Luiz Inácio Lula da Silva and ministers to address the recent rise in food prices due to climatic issues. The government anticipates that this price drop will be passed on to consumers by wholesale companies. The decrease in rice prices is expected to occur between March and April as stocks are replenished at lower prices. Additionally, changes to the next harvest plan were discussed to encourage food production and reduce prices.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The Federal Government expects a drop of around 20% in the price of rice in the coming weeks. This Thursday (14), President Luiz Inácio Lula da Silva (PT) met with ministers to discuss the rise in food prices for consumers at the end of 2023 and the beginning of this year. Between November and January, the food and beverage group was the one that weighed most in the calculation of inflation, in the pockets of Brazilians. Climatic issues, such as high temperatures and greater rainfall in different regions of the country, influenced food production and, consequently, prices. The Minister of Agrarian Development and Family Farming, Paulo Teixeira, reinforced that it was a seasonal increase. According to the Minister of Agriculture and Livestock, Carlos Fávaro, the government hopes that the price drop will be passed on to consumers in the same way by the wholesale companies, which distribute to the consumer. In the case of rice, this should happen at the turn of March to April, as ...

Source: Cliccamaqua