AreaColombia

Commodity GroupRice

CommodityAll

Date01/08/2022

Policy CategoryProduction

Policy InstrumentSupport prices, warehouse receipts program

DescriptionDecided that the storage incentive programme would cover 200 000 tonnes of dry paddy harvested during the second semester of 2022. For the purpose, it would allocate COP 25 billion (USD 5.5 million). Under the scheme, a COP 31 800 (USD 7.0) will be granted to cover the monthly cost of storing a tonne of dry paddy, or its husked or milled equivalent, to entities purchasing supplies until 31 December 2022, or until programme funds are exhausted. The incentive will be extended on condition that supplies be purchased at reference prices ranging from a minimum of COP 1 625 to COP 1 768 million (USD 358 to USD 389) per tonne of wet paddy to a maximum of COP 1 786 to COP 1 928 million (USD 393 to USD 424) per tonne of wet paddy, depending on the various producing regions.

NotesExchange rate as of 15 October 2022.