Outside of Asia, Brazil is the largest producer and consumer of rice. Its annual supply averages 15 million tons of rough rice to meet 12.14 million tons of consumption. Rice prices are expected to remain high this year. Brazil is expected to have the lowest rice crop in the last 21 years, according to the Center for Advanced Studies in Applied Economics (Cepea). The dry climate in the southern region and the planting-area reduction are two of the factors. On Tuesday (3), a 50 kg bag of rough rice was traded at BRL 90.84, up 45% from the same period in the previous year (BRL 62.49).
Source: Agrolink (*Translated by Ia Niani)