THE RICE TRADE BALANCE ENDS 2021 WITH SURPLUS

Brazilian rice brought 2021 to a close with a positive balance in terms of foreign exchange, according to the Brazilian Rice Industry Association (Abiarroz) on Thursday, 20th. In 2021, rice exports (husk base) yielded earnings worth US$ 363.2 million, while imports were worth US$ 316.8 million, which resulted in a surplus of US$ 46.4 million. The volume shipped last year totaled 1.153 million tons, compared to 1 million tons of landed imports, making the balance 149 thousand tons. “Rice exports returned, in 2021, to the 2019 foreign sale levels, owing to the appreciation of the dollar,” says Carolina Telles Matos, manager of Abiarroz Exports. Brazil began using the pioneer method of packing rice in plastic bags capable of supporting a load of up to 2,000 kg. By applying this innovation, Abiarroz believes that exporters will decrease their container dependency. According to Abiarroz, Peru overtook Venezuela as the primary destination for rice shipments in 2021. Other popular destinations included the Netherlands, Senegal, Gambia, Cuba, Costa Rica, the United States, Sierra Leone, Nicaragua, and Mexico.

Sources: Canal Rural/Datamar News