Jun 13, 2024
Brazil government annuls rice auction, says agency head
Brazil's national crop agency Conab has decided to annul a recent rice auction, its head Edegar Pretto said on Tuesday, adding the government had doubts about the winners' financial capability to honor their commitments.
Brazil last week had purchased 263,370 metric tons of imported rice for 1.32 billion reais ($246.45 million) in a rare auction to prevent a price hike after historic floods in the top producing state of Rio Grande do Sul.
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