Rice/Cepea: Prices are stable in the first half of April in Brazil

Market & Price Trends
Published Apr 17, 2024

Tridge summary

In the first half of April, paddy rice prices in Rio Grande do Sul, Brazil, experienced a 1.7% increase, recovering from a 5% decline in March, according to the CEPEA/IRGA-RS Indicator. This price rebound is linked to a deceleration in harvesting caused by recent heavy rains and producers withholding their stocks in anticipation of higher future prices, considering the forecasted low stock/consumption ratio by the end of the crop year. Additionally, a surge in buyer interest, spurred by stronger local demand and inquiries from other Brazilian states such as São Paulo, Minas Gerais, and Santa Catarina, has further fueled the price recovery.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

After accumulating a 5% drop in March, paddy rice prices ended the first fortnight of April in recovery, with an increase of 1.7%, according to the CEPEA/IRGA-RS Indicator, 58% whole grains (weighted average for the state of Rio Grande do Sul). According to Cepea researchers, the support comes from the slower pace of harvesting, worsened by the intense rains of the last few days. Furthermore, producers remain withdrawn, expecting appreciation in the medium and long term, given the low stock/consumption ratio expected for the end of the crop year. There was also, as Cepea researchers indicate, a more ...
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