Egypt Company to Invest Up to US$ 1 Million to Grow Rice in Brazil

Harvesting rice in Rio Grande do Sul, Brazil Rice, a company from Egypt, wishes to invest from US$ 500,000 to US$ 1 million in rice production in the state of Rio Grande do Sul, in the South of Brazil. Company representatives visited the Rice Institute of the State of Rio Grande do Sul (Irga) to present their project.

Their aim is to produce in Brazil in order to supply both to the Brazilian market and the Arab countries, according to information published by the website of the government of the state.

Mohamed El Helw, Rice's CEO, says that the investment would be destined for an experimental area of up to 200 hectares, with the objective of introducing Egyptian technologies. According to the site, the goal is to develop a variety of Arab-Brazilian rice. Average productivity in Egyptian crops is 10 tons per hectare in an area of 550,000 hectares.

One of the concerns of the Egyptian is the world food crisis, which led the Arab country to suspend its exports of rice until October this year. The Rice representatives also visited the Irga's Experimental Station, in the city of Cachoeirinha. According to information supplied by the state government, the rice sector believes that the Egyptians may produce the grain in Rio Grande do Sul in order to export to the Arab world in the future.

In Brazil, exports of rice totaled 95,500 tons in July, a record high volume for the month. In the accumulated result for the year, shipments reached 338,000 tons, representing growth of 121% over the same period last year.

According to the Brazilian Ministry of Development, Industry and Foreign Trade, approximately 81.3% of shipments consisted of processed rice. Rio Grande do Sul accounted for 97% of shipments through the Port of Rio Grande. Benin, Guinea, Chile, Italy and Panama were the leading destinations.

The Brazilian rice crop grew 7% in the 2007/2008 season, and should total 12.1 million tons. However, the country also imports the grain. Imports in July totaled to 32,100 tons, and the sector is close to attaining an even balance of trade. In the accumulated result for the year, Brazil imported 363,100 tons, as against 338,000 tons exported.

Anba

Tags:

You May Also Like

Brazilian capital Brasília's Justice Palace

The Real Cost Brazil: a Lavish State Machine That Doesn’t Deliver

A major survey of Brazil by the Economist has made the country once more ...

Brazilian currency

Political Uncertainty Keeps Brazil from Getting Better Credit Rating

Latin American markets were mixed, with Brazilian stocks dropping, as data showing a rise ...

Brazil’s Embraer Delivers 108 Jets and Earns US$ 195 Million Net Income

Brazilian aircraft maker Embraer, the world's leading manufacturer of commercial jets up to 120 ...

RAPIDINHAS

Postcards from Rio de Janeiro Then there is a third "click", much closer to ...

Brazil and Turkey Talk Trade and Middle East Peace

Luiz Inácio Lula da Silva, the president of Brazil and the Turkish prime minister, ...

World Bank Has Helped Brazil with US$ 36 Billion. Now the Bank Would Like Some

During his visit to Brazil, the president of the World Bank, Paul Wolfowitz, suggested ...

Brazil’s Interest Rate Hike Pleases No One

Brazil’s  Monetary Policy Committee (Copom) has announced late yesterday another increase in the Brazilian ...

Hopes of Lower Interest Help Brazilian Stocks

Latin American stocks advanced, with Brazilian shares gaining on hopes that weaker-than-expected economic growth ...

Venezuelan president Hugo Chavez, a thorn on Washington's side

Let’s Talk About US’s Mounting Irrelevance in Brazil and LatAm

President Bush has been witnessing the advent of a new bloc of left-leaning and ...

US Gets on DVD Two Masterpieces of Brazil’s Contemporary Drama

City of Men, a television series from the makers of the highly acclaimed Brazilian ...

WordPress database error: [Table './brazzil3_live/wp_wfHits' is marked as crashed and last (automatic?) repair failed]
SHOW FULL COLUMNS FROM `wp_wfHits`