Reference Date: 09-August-2012
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FOOD SECURITY SNAPSHOT
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Sharp decline of the 2012 rice crop production expected
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Cereal imports at high levels
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Cereal prices stable
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Sharp decline of the 2012 rice crop production expected
Harvesting of the 2012 main season rice crops, which represents more than 60 percent of the aggregate production, is underway. In the key producing regions of Chorotega and Brunca, rains during the growing period were below average and this is expected to have had a negative impact on yields. The area planted is estimated to be some 30 percent lower than in the same season last year, mainly as a result of the Government’s decision to reduce plantings due to marketing difficulties in the past few years. Sowing of the second season is about to start and a reduction in the area planted is anticipated.
The 2012 aggregate production (first and second crops) of the main (paddy) rice crop is estimated at 175 000 tonnes, 30 percent below the level in 2011.
Cereal imports at high levels
Cereal imports in the 2012/13 marketing year (July/June) are forecast at 1 million tonnes, 7 percent higher than the average of the past five years. This reflects an increase in imports of rice, following the expected reduction in 2012 production and relatively high imports of maize, which is produced in small quantities, to satisfy growing demand for animal feed.
Rice prices close to their levels of year ago
Rice prices have remained stable over the past twelve months, and in June were about at the same level of last year. Prices of beans increased by 12 percent in May and June mainly reflecting higher import prices, as the country heavily depends on imports to cover its bean consumption requirements. However, prices in June were still 4 percent below their levels of a year earlier.