ANNOUNCED AS TEMPORARYNo
On 24 April 2018, the National Supply Company (i.e. CONAB by its acronym in Portuguese) has published Announcement Pepro 059/2018 confirming an auction of 51 million kilogrammes of rice produced in the Brazilian regions of Rio Grande do Sul and Santa Catarina.
Under the Pepro programme, the government pays to the producer or agricultural cooperative the difference between the minimum price and the price received by the purchaser during the auction. With this scheme, the government intends to assist the development of rural agricultural producers by balancing the prices in the regions where oversupply might lead to a price fall.
For this auction, the maximum price that the government is to subsidize ranges between BRL 0.0134 and BRL 0.0412 (USD 0.004 and 0.011) per kilogramme depending on the region. In the previous auction, the maximum price ranged between BRL 0.0296 and BRL 0.0600 (USD 0.008 and USD 0.017) per kilogramme depending on the region (please, see related state acts).
This auction is to take place on 3 May 2018.
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