Brazil’s rice production is sufficient to maintain domestic grain market prices

Brazil’s Brasilia Post reported on August 10 that according to the data released by Brazil’s National Bureau of geography and Statistics (IBGE) on the 10th, as an important food crop in Brazil, the output of rice and wheat this year is optimistic, which is conducive to easing the price pressure on the food market. This year, rice output will reach 11.5 million tons, a year-on-year increase of 4.1%, and wheat output will reach 8.4 million tons, a year-on-year increase of 34.8%.

IBGE pointed out that based on the results of the reassessment of crop productivity, rice production is sufficient to meet the needs of the Brazilian domestic market and help achieve a greater balance in grain prices. In 2020, due to the increase of domestic consumption and export stimulated by the exchange rate in Brazil, grain prices reached an all-time peak.

Source: Economic and Commercial Department of the Embassy in the Republic of Brazil

Post time: Aug-20-2021