Rice exports in Brazil benefit from heated international demand
Jul, 25, 2024 Posted by Gabriel MalheirosWeek 202430
Rice prices in Rio Grande do Sul are rising, driven primarily by strong international demand. Buyers are becoming more active in the spot market, as shown in the report released on Wednesday (24/7) by the Center for Advanced Studies in Applied Economics (Cepea) at Esalq/USP.
According to the report, international interest has been bolstering prices in most of the regions monitored by Cepea.
“Agents report good interest from importers in Brazilian rice, which has led them to prioritize purchasing the processed product. However, with a long period until the arrival of the new harvest, sellers remain cautious, further supporting domestic prices,” the Cepea researchers explained.
This ongoing demand from abroad is expected to continue influencing market dynamics and maintaining price levels until the new rice harvest arrives.
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