The domestic rice market is booming. Prices are at their highest levels since December 2020. This is due to low supply from sellers and strong demand, which are important factors for maintaining price quotes. Evandro Oliveira, analyst and consultant at Safras & Mercado, says that the circumstance benefits producers, who are seeing a recovery in profit margins due to lower production costs. The average price of a bag of rice in Rio Grande do Sul ended at BRL 96.13 on August 24, an increase of 3.90% from the previous week, 12.40% from last month, and 25.75% from the same period in 2022.
Source: Canal Rural (*Translated by Ia Niani)