Area
Colombia
Commodity Group
Rice
Commodity
All
Date
14/08/2020
Policy Category
Production
Policy Instrument
Support prices, warehouse receipts program
Description
Allotted COP 29 billion (USD 7.5 million) to implement the storage incentive programme for 2020 second semester crops. The scheme will cover up to 250 000 tonnes of dry paddy, or its husked or milled rice equivalent, extending an outlay of COP 29 000 (USD 7.5) to cover the monthly cost of storing a tonne of paddy. Buyers must purchase wet paddy at reference prices ranging from COP 1 121 600 to 1 328 000 (USD 292 to 345) per tonne, depending on the various producing zones, in order to qualify for the incentive.
Notes
Exchange rate as of 15 October 2020.
