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Brazil Must Import Rice to Keep Domestic Prices Down, Given Smaller 2021 Harvest

RIO DE JANEIRO, BRAZIL - Brazil’s rice production is expected to shrink and the challenge will be to limit exports in order to supply domestic demand and contain domestic prices.

According to the forecast of agricultural production released by the Brazilian Institute of Geography and Statistics (IBGE), the rice crop should have a smaller harvest in 2021. The production of paddy rice should decrease 2.4 percent next year, to 10.8 million tons.

“The drop is related to productivity issues. But the expected volume meets domestic demand, in the range of 10.5 million to 10.8 million tons . . .

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