The average paddy prices in Rio Grande do Sul, Brazil’s main rice-producing state, has increased by 17% month-on-month to USD 276 per ton as of 17 August. Year-on-year, this represents a 74% increase, according to the Center for Advanced Studies in Applied Economics.
The price increase was due in part to low paddy production in 2019-20. Year-on-year paddy production was forecasted to reach 11.2 million tons or a 6.6% increase. This remains 9.4% and 7.4% below production in 2016-17 and 2017-18, respectively.
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