Brazil To Sell 80,000 MT Next Week

The Brazilian Ministry of Agriculture is planning to sell between 70,000 and 80,000 MT of rice in an auction scheduled for next week aiming to control the high prices.

The government halted exports in April from its 1.4 million MT of rice stocks to ensure domestic supply in the next six to eight months, based on concern that there could be food shortages. Private stocks in trader warehouses can still be exported.
 
Brazil is currently harvesting its new rice crop. Brazil's rice crop was around 12 million MT in 2007-08, up from 11.8 million MT last season.