Rice: 4% Increase Declared in Bag Price

In the context of a drop in production, in Costa Rica the government decreed a rise from $36.18 to $37.65, the price of a 73.6 kg sack of rice in bulk placed in the industrial plant.

Wednesday, June 5, 2019

The agreement modifying the price to the rice producer was published on June 5 in La Gaceta, and the government's action is taken in a context of low local production, because between the 2016-217 and 2017-2018 harvests, the volume produced decreased by 21%.

See "Crops: Main Figures in Central America

Nacion.com reviews that "... Conarroz requested and promoted this adjustment in the price to producers especially for having security with the 2019-2020 planting period. The rice year officially begins on July 1st and ends on June 30th. The value is set by the Ministry of Economy, Industry and Commerce (MEIC), through technical studies of production costs and on the basis of a proposal presented by Conarroz, as stipulated by law."

Also see "Rice: Purchases up to September 2018

The article adds that "... On May 22, the Minister of MEIC, Victoria Hernandez, explained that the office was interested in rushing the publication that adjusts the price to the producer, since it was expected to provide security to farmers for 2010-2020 sowing."

CentralAmericaData reports detail that from January to September 2018 the main importer of rice in Central America was Panama, with $70 million, followed by Costa Rica, with $54 million, Nicaragua, with $38 million, Honduras, with $34 million, Guatemala, with $32 million and El Salvador, with $26 million.

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