Rice harvest in Uruguay expected to generate US$ 700 million in exports

Published 2024년 3월 25일

Tridge summary

Uruguay is poised to harvest over a million tons of rice, capitalizing on favorable international prices following India's exit from the market. The country anticipates export earnings of around US$ 700 million, a significant increase from the previous year's US$ 550/600 million. Although there's a slight decrease in yield per hectare from last year's record, the outlook is optimistic with 95% of the production earmarked for export, primarily to the European Union, Brazil, and Central American countries. The rice industry plays a crucial role in Uruguay's economy, supporting 8,000 direct and 250,000 indirect jobs. As a leading rice exporter in South America, Uruguay aims to expand its production area through enhanced irrigation techniques.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

It's rice harvest time in Uruguay, and the country expects to collect over a million tons of the cereal which is enjoying a favorable international prices prospect since the world's main exporter India, has dropped out of the market. The production of Uruguay's 150,000 hectares of rice paddies are expected to bring in close to US$ 700 million in exports this year, which will be higher than the US$ 550/600 million from the 2023 harvest. Although 2023 was a record harvest, 1.5 million tons, because of very favorable climate, sunshine at the correct maturing time for the cereal, with yields of 9,500 kilos per hectare, this year it is anticipated yields will reach 8,800 kilos/hectare according to Alfredo Lago, head of the Rice Planters Union. “Last year was a record year and harvest, this year we will be back closer to average normality, nevertheless a very good yield by regional and world standards,” added Mr. Lago, who explained that 95% of Uruguay's annual production is exported ...
Source: MercoPress

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