Rice market in Brazil is stable while the focus remains on crops
Rice
Brazil
Market & Price Trends
Published Mar 26, 2024
Tridge summary
Evandro Oliveira from SAFRAS & Mercado reports a balanced supply and demand for rice in Brazil, despite a minor production increase. With the ongoing southern harvest, a decrease in producer prices is expected, although it may be tempered by current prices being lower than Paraguay's import parity. Processed rice prices have significantly dropped, potentially boosting consumption after a six-month decline. In Rio Grande do Sul, the price for a 50-kilo bag of rice has seen a slight recent increase but is significantly lower than last month, though higher than the previous year. Price variations are noted across different regions, with specific examples provided for Palmares do Sul and Jaraguá do Sul.
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
Evandro Oliveira, analyst and consultant at SAFRAS & Mercado, highlights that, despite a slight expansion in production, national supply and demand remain balanced. With the intensification of the harvest in the south of the country, Oliveira predicts a downward trend in producer prices, which could continue in the coming weeks as work in the field progresses. However, he highlights that current prices, below Paraguay's import parity, can mitigate this devaluation movement. As for processed rice, a significant reduction in prices has already been noticed, which should gradually be reflected in points of sale, potentially boosting consumption of the cereal, which had been showing a decrease in the last six months. In Rio Grande do Sul, the main national reference, a 50-kilo bag of rice ended Thursday at R$101.54, registering an increase of 0.56% compared to the previous week. Compared to last month, there was a drop of 10.21%, but ...
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