The latest harvest survey released by the National Supply Company (Conab) has brought important corrections in the supply and demand framework of rice, which strengthen the expectation of recovery of cereal prices during the current commercial year. The assessment is made by the Commercial Director of the Rio Grande Rice Institute (IRGA), Tiago Barata.
The company reviewed the production 11,278.6 thousand tons to 11,384.7 thousand tons. Twe were a production marked by losses in relation to the one obtained in the last productive cycle, consolidating the tendency to have a year of supply adjusted to the demand, with a strong reduction of the inventory position throughout the year. “
The trade balance of the sector should end the harvest year with 420.6 thousand tons of rice in stock, sufficient volume to supply domestic demand for less than 13 days.
“Today, however, we have a very favorable competitive situation (price of rice in dollar in relation to competitors from the foreign market), and with that, a surplus trade balance”, concludes the IRGA official.