ANNOUNCED AS TEMPORARYYes
On April 19, 2017, the Brazilian Ministry of Agriculture, Livestock and Supply issued Resolution 5, announcing the purchase of up to 1 million tonnes of maize produced in the State of Mato Grosso, through an auction of option contracts. This measure allows producers to sell their product to the Government at a future date at a guaranteed price. Auctions will last until September 15, 2017, and seek to protect rural producers and cooperatives against low prices in the market.
The price announced on the Interministerial Decree 799 issued by the Ministry of Agriculture, Livestock and Supply and the Ministry of Finance, has been set at USD 5.67 (BRL 17.87) per 60 kg bag. The Ministry of Agriculture, Livestock and Supply and the Ministry of Finance may deduct USD 65.71 (BRL 207.00) per contract of 27 tonnes (USD 0.15 / 60 kg) for each month of anticipation.
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