The good news regarding Brazilian rice on the international market helped to improve rice farmers’ spirits and stabilize the raw material. The expectation is that in December, Brazil will export more than 150,000 tons (bark base) according to the Port of Rio Grande lineup and current market information. Among the good news is the victory of the North American trading company TRC in the Costa Rican tender trade, which established the purchase of 80,000 tons of paddy rice from Mercosur. The first boat holding 20,000 tons is scheduled to embark between December 20 and 24. It is not yet known whether the other three boats will depart from Brazil or from the other three countries, but Brazilian prices are more attractive. Despite this, December is not likely to be enough to recover November’s losses. According to CEPEA, with data from Secex, total rice shipments dropped 81% in November, totaling just 26,300 tons shipped in Brazil, this smallest monthly total in 12 years. At the same time, imports totaled 61.6 thousand tons. The situation reflects the crisis in logistics and transport and the high costs of worldwide freight.
Source: Money Times/Datamar News