Brazil will send 30K tons of high-yielding rice to Iraq at the beginning of the second half. The victory of the proposed international trading in the tender trade promoted by the Iraqi Ministry of Commerce on March 31, worth US $ 549 / ton (CIF), is confirmed. The export marks the return of the Brazilian grain to the country’s market after almost five years since it was rejected because it did not meet the bidding standards and gives hope to Brazilian exporters to keep this business option open. Another 30K tons were part of the tender, but the operator gave up considering that there would be no time for delivery. The whole operation was carried out by international tradings, without direct participation of the sector in Brazil. Global companies quoted prices in mid-March, but exchange rates and domestic prices have changed. The crowd in the production chain, now, is for the negotiation to work and the load reaches its destination according to specifications. Opening this window of trade can guarantee the export of 100 to 150K tons of rice per year for this destination, according to the Brazilian production chain.

Source: Aboissa