Lower production keeps sellers away from the spot and rice indicator rises

Estimates have indicated a drop in rice production in the 2022/23 season, which, in turn, is linked to the low profitability recorded in the previous harvest. Therefore, many sellers consulted by Cepea are withdrawing from the spot, keeping internal values ​​firm.

Producers indicate that availability may be even lower than estimated, both in rainfed and irrigated crops, which could make the supply and demand situation tighter.

Conab indicates that national production should decline 1,38% in this 2022/23 harvest, to 10,64 million tons.