Market Size of Brazil Rice Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 1.10 % |
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Brazil Rice Market Analysis
The Brazil Rice Market is estimated to grow at a CAGR of 1.1% during the forecast period.
- Rice is grown as a major staple crop in Brazil. The crop is cultivated in the wet soils common in the lowlands of the region. The country is continuously increasing its rice production by adopting irrigated ecology and decreasing the significance of the low-yielding upland sector. Countries like Brazil have increased their trade relationship with key African countries. The recent fall in rice trading prices, credit crunch, and high price inventory are putting pressure on the country's rice trade market.
- In 2023, Brazil's Agriculture Minister indicated new administration for increasing government stocks of foodstuffs such as corn, rice, and dry beans, doubling the funding for Embrapa to increase research on low-carbon agriculture, and to develop alternative fertilizers to reduce dependence on imported fertilizers and also focus on the future with information on grain stocks, anticipated sales, anticipated domestic demand and export sales, and weather forecasting which will drive the market during the forecasting period.
- Factors driving Brazil's transformation include agricultural research that has increased yields, expansion of the arable land base, large investments in production technologies to develop crop and forage varieties, and increased global demand for food and animal feed, particularly over the last decade which will boost the rice market during the forecasting period.
