Rice Producers Win and Government Declares Price Adjustment

Arguing that there are justified reasons to increase the price of pile of rice, in Costa Rica the Alvarado administration authorized a 1.9% increase in the final price to the consumer.

Monday, December 9, 2019

With the increase decreed by the Ministry of Economy, Industry and Commerce (MEIC), the price per kilo will rise from $1.06 to $1.08, for the variety with 20% broken grain, also known as 80/20.

You may be interested in "Crops: Main Figures in Central America"

This increase takes place in a context of pressure from producers, since days ago it was reported that at the local level it had been decided to suspend the receipt of national grain, as a measure of protest.

Elobservador.cr review that "... the price of rice will be established in ¢620 to the consumer in its presentation with 80% whole grain in individual packages per kilogram. The MEIC announced the rise this week, 'after a rigorous process of analysis and in compliance with the law that orders the review of the conditions that justify the regulation of prices every six months."

Also see "Rice: Import Price Still Down"

The article adds that "... The increase in the price of pile of rice, according to the MEIC, is the result of a strict application of the current pricing model. In this way, the price of rice is updated, while at the same time allowing industrialists, producers and consumers to be guaranteed an update of the price on the basis of duly justified information,' the Ministry informed."

CentralAmericaData reports state that from January to June 2019 the main importer of rice in Central America was Costa Rica, with $41 million, followed by Panama, with $25 million, Guatemala and Nicaragua, with $22 million each, El Salvador, with $15 million, and Honduras, with $13 million.

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More on this topic

Rice: Industrialists Press for Price Increase

December 2019

As a pressure measure for the government to decree a 1.9% increase in consumer value, in Costa Rica industrialists have decided to suspend from December 2 the receipt of national grain.

According to businessmen, the price increase is pending since June 2019 and they hope that with this pressure measure, the authorities will publish the decree, in which the value of the kilo is increased from $1.06 to $1.08 for the variety with 20% broken grain, also known as 80/20.

Costa Rica: NO to Fixing Rice Prices

April 2017

The Commission for the Promotion of Competition is opposed to the fixing of grain prices, the only good in the country whose price is established by decree.

Although Corporación Arrocera Nacional (Conarroz) continues to insist on the negative effect of freeing up the price of rice, the Commission for the Promotion of Competition (Coprocom) is maintaining its stance against the measure, arguing that it has not served to increase the volume produced or improve the productivity of the rice sector.

Costa Rica: NO to Higher Tariff on Rice

October 2014

The Economy Ministry has rejected a request by producers to temporarily raise the tax on imported grain, but has not ruled out doing so from December 2014.

From a statement issued by the Ministry of Economy, Industry and Commerce (MEIC):

The Ministry of Economy, Industry and Commerce (MEIC), through Resolution 051-2014-DM has decided, after a thorough technical analysis in which it was determined that there exists a causal relationship between an increase of the imports of husked rice contemplated and the threat of harm to the domestic industry, not to apply provisional safeguard measures on imports of the product concerned.

Price Fixing by Law is Unbeneficial

April 2013

With the intention of benefiting producers and consumers, and achieving better crop yields, in Costa Rica the price of rice is fixed by law.

According to an article in Nacion.com "a study by the Institute for Research in Economics (ICSI), at the University of Costa Rica, which was requested by the Ministry of Economy, Industry and Commerce (MEIC)." states that "the law fixing the price of rice will not benefit either the consumer or the producer, as intended by the measure, nor will it promote better returns."

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