RIO DE JANEIRO, BRAZIL – In this current period of crop development, the lack of rainfall can damage productivity, according to CEPEA (Center for Advanced Studies on Applied Economics).
In turn, buyers need to rebuild their stocks, a scenario that keeps prices high.
In the last April partial, the Esalq/BM&FBovespa Indicator (BVMF3) (Campinas-SP base) rose 4.45% closing at R$97.88 (US$17.65)/60 kg bag on Friday, April 16th, CEPEA’s new actual record in the series.
In some markets, the rise in prices is more expressive, and sellers are now asking for amounts over US$100 per 60kg bag.
Source: Moneytimes