The Brazilian rice market is currently experiencing an upward trend due to the steadiness of the American dollar, which is approaching BRL 5.20, and the high demand for rice. SAFRAS & Mercado analyst, Evandro Oliveira, notes that despite the favorable price dynamics, many rice farmers are adopting a more cautious approach and waiting for more profitable circumstances before selling. Currently, the focus is on the crops, especially after the good weather conditions that have allowed crop progress. Although the rice sowing is in its early stages, with previous challenges due to constant rain, various regions of Rio Grande do Sul could advance in the implementation process with the recent stabilization of the weather.
Source: Safras & Mercado (*Translated by Ia Niani)