Brazil to export 1,850 mln tonnes of rice in 2023/24 market year, says consultancy

Paddy rice production in Brazil should total 10.621 million tons in the 2022/23 season, 3% below the 10.977 million estimated for 2021/22. The forecast is part of the Brazilian supply and demand assessment published by the consultancy Safras & Mercado.

See below the track record of the volume of rice (hs code 1006) exported from Brazil between Jan 2019 and Oct 2022. The data is from DataLiner.

Brazilian rice exports | Jan 2019 – Oct 2022 | WTMT

Source: DataLiner (click here to request a demo)

Safras expects exports of 1.850 million tonnes in the 2023/24 market year and 1.316 million tonnes in 2022/23, representing an increase of 41% between one season and another. Imports were forecast at 1.186 million tonnes, compared to 928 thousand tonnes in 2022/23.

Safras projects total demand at 12.650 million tonnes in the 2023/24 marketing year, up 3% year-on-year. As a result, final stocks are expected to fall by 74%, from 1.133 million to 290 thousand tonnes in the 2023/24 marketing year.

If confirmed, these will be the lowest final rice stocks in history, according to SAFRAS & Mercado analyst and consultant Evandro Oliveira. He also mentions that it has the lowest stock/consumption ratio on record, another price support factor.

Source: Canal Rural

To read the full original article, please go to: https://www.canalrural.com.br/radar/arroz-safras-indica-exportacao-de-1850-mi-de-t-no-ano-comercial-2023-24/

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