Brazil Begins Importing Rice Due to Floods in Rio Grande do Sul

In short:

The Brazilian federal government was set to purchase its first shipment of imported rice from the 2023/2024 harvest on Tuesday, May 21. This rare import for a typically export-oriented country is driven by production losses in the south due to floods that began in late April.

A total of 104,035 tons of rice are planned for acquisition. The budget ceiling for the import is set at BRL 416.14 million.

This import strategy aims to prevent potential price hikes following the devastation of crops, including rice, which accounts for approximately 70% of Brazil's cereal production.