Cepea, 06/11/2024 – The rice market appears to have found a price resistance level, with no significant swings, Cepea surveys show. In October, the average CEPEA/IRGA-RS paddy rice index (58% whole grains, cash payment) stood at R$ 119,29 per 50 kg bag, ranging between a low of R$ 118,60/bag and a high of R$ 119,88/bag, that is, a gap of just 1,1% between these values. The monthly average was slightly 0,4% above September's and 14,6% above Oct/23, in nominal terms. For the year to date, prices are 20,5% higher than the average for the same period in 2023. Cepea research shows there are no liquidity shocks, with producers focused on planting the new season's crop, which is running later than in 2023, and buyers also holding back, watching external benchmarks and news of possible government intervention. Source: Cepea (www.cepea.esalq.usp.br)