Production support, minimum purchasing prices, warehouse receipts
Established minimum purchasing prices for green paddy produced in selected regions of the country, namely Villavicencio, San Martín, Granada, Puerto López, Yopal, Aguazul, Villanueva, Ibagué, Espinal, Huila, North Santander, Cesar, Guajira, Córdoba, Sucre, Bolívar and Magdalena. Producers in these regions will receive between Pesos 840 000 and 976 000 (USD 412-478) per tonne of paddy sold, while prices will remain freely negotiable outside of these areas. Additional support measures to the sector will include a review of credit lines available to the industry and the continuation of the storage incentive program, which is to run over the second half of 2014. Given the ample volume of stocks in millers' hands, officials also indicated that they would not authorize imports from Andean Community countries during the year.
Exchange rate as of 15 March 2014.