PORTOS RS REDUCES THE DRAFT OF THE PORT OF RIO GRANDE

Portos RS has announced the reduction of the Port of Rio Grande’s draft to 11.9 meters owing to floods. This has limited cargo movement to ensure safety. There is still a lot of debris in the outside channel. Market agents are monitoring the situation, expressing worries about potential increases in logistics costs and the impact on domestic grain prices. As a result, some goods must be transferred to Santa Catarina, potentially increasing producer prices. On Friday, a bag of soybeans in Rio Grande was priced at BRL141. The harvest in the state is 98% complete, although there are issues in drying the beans owing to humidity, making the selection and transportation processes more complicated.
Source: Globo Rural (*Translated by Ia Niani)