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Bolivia increases wheat procurement prices

19/04/2019,

On 17 April, the Government approved the new procurement price at which the Food Production Support Company (Empresa de Apoyo a la Producción de Alimentos, EMAPA) will buy the 2019 “winter” wheat crop from small, medium and large farmers. The price was increased to USD 330 per tonne from USD 320 per tonne announced in February and it is 10 percent higher than in the same season last year. The volume of purchases was agreed at 95 000 tonnes, 10 000 tonnes more than in 2018, to boost domestic supplies after a fall in output last year. The measure aims to stimulate production by increasing plantings and to lessen the dependence on imports, which account for some 60 percent of the domestic supplies of wheat. With regard to rice and maize, EMAPA plans to purchase 40 000 tonnes of each, which is reportedly lower than the amount procured last year, given the current adequate domestic availabilities. While the price of rice was set at USD 60 per fanega (176.6 kg), the price for maize is yet to be defined by EMAPA.

Country: Bolivia
Region: South America