Brazil exports 123 thousand tons of rice in October

Brazil exported 122,9 thousand tons of rice (husk base) in October, with revenue of US$ 47,1 million, reports the Brazilian Rice Industry Association (Abiarroz), based on figures from Development, Industry, Commerce and Services (MDIC).

The volume exported last month fell 39,7% compared to the same month in 2023, when shipments totaled 203,8 thousand tons. In terms of revenue, the decline was 34,5% compared to the same period (in October 2023, revenue from foreign sales was US$ 65,6 million).

Shipments of processed rice abroad in October totaled 81,9 thousand tons, with foreign exchange earnings of US$ 26,9 million. In volume, the decline was 53,2% and in revenue, US$ 48,7%.

The main destinations for exports of milled rice last month were Senegal, the Netherlands (Holland), Gambia, Sierra Leone, Peru, Saudi Arabia, Cape Verde, Trinidad and Tobago, Uruguay and Portugal.

Director of International Affairs at Abiarroz, Gustavo Trevisan points to the floods that occurred in Rio Grande do Sul as one of the main causes of the drop in rice exports:

“One of the main reasons for this drop in exports is the lack of competitiveness of our rice, which is more expensive at the moment due to the shortage of raw materials, especially in Rio Grande do Sul, which was hit by floods that occurred in April and May in the state.”

Furthermore, Trevisan adds, India's return to the export market has further destabilized the global rice market, causing prices to fall.