Data released by Conab on January 7th showed that Brazilian rice output for the 2022-23 harvest, from January to December 2023, is expected to be 10 million tons. This is 7% lower than the previous season. When this volume is combined with the initial stock of 2.3 million tons and the import of 1.4 million tons, the total supply is estimated to be 13.74 million tons. With an estimated consumption of 10.25 million tons and exports of 1.8 million tons, carryover stocks are expected to be around 1.7 million tons. According to Secex, Brazilian imports of paddy rice reached 1.33 million tons in the first half of 2023 (until November), the biggest yearly amount in the past two decades.
Source: Canal Rural (*Translated by Ia Niani)