AreaColombia

Commodity GroupRice

CommodityAll

Date04/08/2016

Policy CategoryProduction

Policy InstrumentSupport prices, warehouse receipts program, import quota

DescriptionDecided that the storage incentive programme would cover 500 000 tonnes of paddy harvested in the second half of 2016. The scheme would be executed in two phases: the first covering up to 173 000 tonnes of paddy, starting from August 2016; while the remaining volume would be covered successively depending on available financial resources. The programme will provide COP 28 890 (USD 9.7) to cover the cost of storing a tonne of paddy per month, on condition that these supplies be purchased at reference prices ranging from a minimum of COP 127 000 to a maximum of COP 157 000 per 125 kg of paddy (USD 345-427 per tonne), depending on the various producing regions. Purchases conducted under the programme would also serve to determine potential rice import requirements and their allocation among its participants in 2017 and 2018.

NotesExchange rate as of 1 October 2016.