Brazil’s rice market saw significant ups and downs in 2024, according to data published by the Center for Advanced Studies in Applied Economics (Cepea). Conab figures showed that production increased by 5.52% to 10.59 million tons. The domestic supply reached 14.3 million tons in February 2024, with initial inventories of 2.02 million tons and expected imports of 1.7 million tons. About 1.3 million tons are expected for exports and 11 million tons for Brazilian consumption. Cepea estimates that ending inventories will thus reach 2 million tons in February 2025, corresponding to a stock-to-consumption ratio of 18.2, the lowest since 2018–19.
Sources: Cepea/Agrolink (*Translated by Ia Niani)