The Brazilian Association of the Rice Industry (Abiarroz) estimates that after the beginning of the 2020/21 harvest season, the price of rice for Brazilian producers will increase. At this moment, the rice sector is waiting for the results of the harvest to identify factors that can affect the demand-supply curve, as prices should be adjusted throughout the year. In addition, the recovery of grains in the domestic market should also benefit the rice grower. “Prices may well be higher than they were in the pre-pandemic period,” said Andressa Silva, the executive director of Abiarroz. At the beginning of the week, rice was traded at around R$ 90 for a 50 kg bag in Rio Grande do Sul, the largest rice producer in Brazil. Rice harvest will be intensified from the end of February to the beginning of March. Brazil is forecast to produce 10.9 million tons of rice.
Source: Agrolink
*Translated by Ia Niani