BRAZIL TO PURCHASE 1 MILLION TONS OF RICE

The government of Brazil approved, through a provisional measure signed by President Lula, the purchase of up to 1 million tons of foreign rice to ensure the national supply, which has been impacted by floods in Rio Grande do Sul, the grain’s primary supplier. Over BRL 7 billion were issued, costing BRL 4 per kilogram. The Ministry of Agrarian Development and Family Agriculture (MDA) will acquire the stock through Conab and sell it directly in marketplaces and supermarkets. Despite the policy, the Rio Grande do Sul administration claims that the rice crop in 2023-2024, projected at 7.1 million tons, would be sufficient to fulfill national demands.
Source: Agência Brasil (*Translated by Ia Niani)