Lower stocks in the domestic market and the expectation of a reduction in cultivated area in the 2019/20 season continue to support rice prices in the domestic market, according to Cepea research. From October 22nd to 29th, the ESALQ/SENAR-RS Indicator, 58% whole grains with cash payment, rose 0.6%, closing at R$ 46.21/sc of 50 kg on Tuesday, 29th.
According to Conab, the final rice stocks for the 2018/19 season, in Feb/20, should be 521.2 thousand tons and, for the 2019/20 season, in Feb/21, 565.8 thousand tons.
Thus, Rio Grande do Sul rice producers consulted by Cepea began the 2019/20 harvest paying attention to the decline in sowing area, due to the preference for other crops, but with the expectation of higher prices in the coming months, given low stocks .
Source: agrolink
