Economy / Brazil
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Rice Farmers Get Their Way
May 2008 | Ratings UpdateSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Brazilian rice producers seem to have succeeded in preventing authorities from extending a suspension on rice exports to the private sector. The government's proposed plans came on the back of global rice prices hitting new record highs, appreciating by over 80% since the beginning of the year. Brazilian rice producers export about 10% of their output to maintain a profit margin amid a regulated domestic market. The government has recently announced that it may begin selling its 1.6mn tonnes of rice reserves on the open market to ensure steady supply to consumers and prevent sudden price fluctuations. However, rice producers