Brazil’s Rice Trade Sees Significant 180% Surge in July 2024

Brazil’s foreign rice trade experienced a substantial boost in July 2024, with both exports and imports nearly doubling in volume compared to the previous month. Despite the appreciation of the U.S. dollar, which reached levels not seen since December 2021, the volume of rice imported in July was the highest in three and a half years, underscoring strong demand for the grain.

According to data released by Cepea, Brazilian ports received a significant 204.2 thousand tonnes of paddy rice in July from outside the country, marking a 90.72% increase from June 2024 and a 62.71% rise compared to the same month last year. On the export side, 174.89 thousand tonnes were shipped, showing a substantial 180.43% monthly increase, though slightly down by 2.78% year-over-year.

These figures on Brazil’s rice trade highlight robust activity in the sector, driven by both domestic and international factors, despite the challenges posed by exchange rate fluctuations.

Source: Agrolink

Original text available at: https://www.agrolink.com.br/noticias/exportacoes-de-arroz-crescem-180–em-julho-24–apesar-de-alta-do-dolar_493985.html

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