Brazil: Rising trend in rice prices challenges the market and impacts retail

Market & Price Trends
Published Nov 28, 2023

Tridge summary

Sellers are becoming more cautious and demanding higher prices, leading to a shortage of supply and putting pressure on market indicators. This has resulted in significant increases in rice prices across different cities, with the highest increases observed in Florianópolis, Brasília, and Rio de Janeiro. This trend is posing challenges to the market and has already affected consumers, making it a notable phenomenon in the current economic scenario.
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 behavior of sellers, adopting a more cautious stance and increasing their demands, highlights a strategy of waiting for even more favorable conditions. This movement contributes to the shortage of supply in the market, putting pressure on indicators. "This phenomenon is noticed not only in the production sectors, but also in retail, where there are already reports of packages of 5 kilos of white rice, Type 1, reaching a value of R$ 30.00 for commercial brands", highlights the analyst. According to a survey by DIEESE, October recorded a significant increase in needle rice prices in all capitals. The biggest increases were observed in Florianópolis (9.25%), Brasília (7.35%) and Rio de Janeiro (6.72%). In the last twelve months, all cities showed an increase in prices, with variations between 11.28%, in Belém, and 30.52%, in Florianópolis. The average bag of 50 kilos of paddy rice in Rio Grande do Sul, the main national reference, ended Thursday (23) quoted at R$ 115.18, ...
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