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Brazil sets new minimum prices

25/06/2018,

On 19 June, the Ministry of Agriculture, Livestock and Supply approved the new minimum prices of selected agricultural commodities produced in the summer season, including cereals and beans. The minimum prices on these products were increased by an average of 7 percent year on year. Prices of paddy rice were increased by 1.2 percent in the south except Paraná, the minimum prices of maize and sorghum were increased by an average of nearly 13 percent and 8 percent respectively in the north, midwest, southeast and south of the country, while they were decreased in other areas. Minimum prices for beans were raised by some 3 percent. Prices became effective on 20 June 2018. New prices were also set for cotton, cocoa, sisal, soy and milk. The mechanism of the minimum prices aims to support producers.

Country: Brazil