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Average paddy prices in Rio Grande do Sul, Brazil's main rice state, rose 17% month on month to $276 per tonne as of August 17, and are up 74% year on year. Low 2019-20 paddy production drove the increase, although 2020 output is forecast to rise 6.6% to 11.2 million tonnes.
Paddy production remains below 2016-18 levels, which supports Brazilian and regional rice prices. The rise is still measured against a short crop and only a modest forecast recovery.
ricetoday.irri.orgAug 19, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
