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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