Guilherme Gadret, from Expoente Corretora in Rio Grande do Sul, pointed out that after the 2020/21 season and after the end of coronavirus restrictions, there was an increase in rice consumption and international purchases. Afterwards, Brazilian rice was left out of shipments due to domestic price and dollar issues. In January and February, the largest foreign sales took place within deals previously closed with a stronger dollar. With the dollar on the rise again, international sales are likely to soar. “Our product can supply the domestic market, with a carry-over from the past season. Although these exports have increased at the end of the harvest, we have a carry-over stock of around 1.8 million tons, so it wouldn’t be a problem to expand foreign sales at that moment.” Brazil is expected to reach the second largest harvest in history.
Sources: BBM/Noticias Agrícolas (*Translated by Ia Niani)