Rice price in Brazil should fall by around 20%, says government
Rice
Brazil
Market & Price Trends
Published Mar 15, 2024
Tridge summary
The Brazilian government is expecting a 20% reduction in rice prices due to a decrease in producer prices. This comes after a meeting between President Luiz Inácio Lula da Silva and ministers to address the recent surge in food prices. The government is hopeful that wholesalers will pass on the price drop to consumers. Additionally, changes to the next harvest plan are being discussed to boost food production and lower prices, especially for staple foods like rice, beans, corn, wheat, and cassava. Other strategies such as facilitating credit, forming public stocks, and implementing a minimum price policy are also being considered to lower food prices and increase producers' income.
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 had a meeting 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. “It is the president's concern that food arrives cheaply on the tables of the Brazilian people. All the evidence is that it has already gone down. There was a decrease in producer prices and there will be an even greater decrease in producer prices”, he said. According to the Minister of ...
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