News

Rice/Cepea: Indicator remains firm in Brazil

Rice
Brazil
Market & Price Trends
Published Oct 11, 2023

Tridge summary

Paddy rice prices are staying strong due to supply constraints and concerns about cultivation in the upcoming season. Low liquidity is also an issue, with traders preferring to negotiate rice stored in industrial units due to logistical difficulties caused by the weather. In terms of trade, Brazil's rice exports in September 2023 were 70.8% lower than in August 2023 and 59% lower than in September 2022, while rice imports decreased by 31.6% compared to the previous month and 6.2% compared to September 2022.
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

Paddy rice prices remain firm, reflecting supply restrictions and concerns about the pace of cultivation in the new season. In general, according to information from Cepea, liquidity is low, with agents preferring to negotiate rice stored in industrial units, given the logistical difficulties imposed by the weather. The higher exchange rate also attracted sellers to fulfill contracts at the port of Rio Grande (RS), where offers were more attractive in recent days. EXPORT AND IMPORT - According to data from Secex, 81.7 thousand tons of rice (husk basis) were exported by Brazil in Sep/23, a volume 70.8% lower than in Aug/23 and 59% below the volume sold in Sep/ 22. As for imports, 111.3 thousand tons of husk rice arrived at national ports in Sep/23, a drop of 31.6% compared to the previous month and a decrease of 6.2% compared to Sep/22.
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