Paraguayan Rice Exports Soar by 48.3% in First Half of the Year

In the first half of the year, Paraguayan rice exports witnessed a significant surge of 48.3% compared to 2022, according to the Foreign Trade report of the Central Bank of Paraguay (BCP). This dramatic increase was attributed to improved international pricing. The country reported a revenue influx of USD 215.1 million, approximately USD 70.1 million higher than the same period last year.

As per the most recent bulletin of the Paraguayan Chamber of Rice Industrialists (Caparroz), grain shipments in the first half of the year amounted to a total of 609,432 tons of paddy rice. This trade generated an income of USD 188.8 million for the country. Additionally, 37,923 tons of paddy rice worth USD 11.4 million were exported by nine companies.

Brown rice exports involved the participation of 20 companies, which totaled a volume of 175,937 tons and brought in USD 66.2 million. Twenty-four companies exported 202,156 tons of milled rice for USD 96.7 million, while 21 companies shipped 47,397 tons of broken rice valued at USD 14.4 million.

Brazil remained the primary destination for Paraguayan rice, with the nation acquiring a total of 487,892 tons, or 83% of the total exports, from January to June. Other significant markets were Chile (11%), Uruguay (5%), Costa Rica (1%), and El Salvador (less than 1%). For milled rice, the Brazilian market continued to dominate with 153,010 tons. Other markets for this variety included Uruguay, Israel, the United Arab Emirates, Canada, the Netherlands, Italy, Greece, Lebanon, Guatemala, Sweden, Portugal, Germany, Cuba, and Argentina.

The rice sector in Paraguay is set for its next planting at the end of September. In addition to this, the country anticipates progressing the process of shipping containers to Mexico and Ecuador, potentially opening up new markets. The area for the 2022-2023 harvest expanded to 172,229 hectares, nearly 14,000 hectares more than in 2022, which were designated for cultivation throughout the country.