BRAZIL BOUGHT 263,000 TONS OF RICE IN AN AUCTION

The Brazilian Supply Company (Conab) has purchased 263,000 tons of imported rice in an auction in response to the climate crisis in Rio Grande do Sul, which produces 70% of the rice in Brazil. This initiative aims to mitigate the impact of high prices on consumers. Conab is authorized to buy up to 1 million tons of rice and will adjust the auctions according to demand. The rice will be sold with a final price of up to BRL 20,00 per five-kilogram bag. Conab’s president Edegar Pretto emphasized the need for supply and price regulation. He underlined the importance of inventory policies in keeping prices stable during crises. Conab plans to implement reasonable prices for beans and rice in 2024-2025, giving national farmers an edge.
Source: Gov.br (*Translated by Ia Niani)