Brazil’s Rice Growers Overproduce and Now Fear Serious Price Break

Brazil’s rice growers achieved a record-breaking crop this year, around 13.3 millions tons, according to data from the National Supply Company (Conab). Last year’s harvest came to 12.8 million tons.

Consumption this year, according to the Conab, is expected to reach 12.9 tons. If this estimate proves correct, Brazil’s rice surplus will amount to over 400 thousand tons, which could cause a significant break in prices, as well as wasted production.


The National Monetary Council (CMN) is trying to circumvent this problem. Last week the council authorized the postponement of debt payments due in July and August on loans to cover operating expenses. The measure extends these payments to March and April of 2006.


Data from the Ministry of Agriculture indicate that the measure involves approximately US$ 855 million (R$ 2 billion) in debts on agricultural loans.


ABr

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazilian Justice Acquits Man Sentenced for 1988 Massacre of Indians

Brazil’s federal court of appeals acquitted the timber mill owner Oscar de Almeida Castelo ...

Women from 12 Countries Gather in Brazil Looking for Gender Equality

Over 50% of the world’s food is produced by women, according to data from ...

Greenpeace Calls Deforestation in Brazil a National Shame

Greenpeace reacted with condemnation and outrage to the new Amazon deforestation figures released by ...

Brazil Confident It Will Reach Agreement with Bolivia on Gas Prices

The Brazilian Minister of Foreign Relations, Celso Amorim, commented today, May 4, that the ...

Meet the Real “Music Man” of Brazilian Musical Theater – Ed Motta

What hasn’t musician, composer, singer, jazz-soul aficionado, multi-instrumentalist, and all-around nice guy Ed Motta ...

Lula’s Credit Rating Downgraded

In the next few weeks, we should see whether Lula’s government has the political ...

Brazilian Markets Close Today for Brazil vs Croatia

Latin American and Brazilian stocks, in particular, were lower Monday, June 12, adding to ...

Shock and Concern: Two Words to Describe Brazilians Reaction in London

Carlos Eduardo Goia, international relations coordinator of the Non-Governmental Organization, Global Justice, said in ...

LETTERS

Tieta, Teresa Batista, Gabriela, Quincas Berro Dágua, Vadinho and Dona Flor. For many of ...