Price-controlled rice reduced about 9 cents

Rice prices are back in the news after the Ministerio de Economía, Industria y Comercio issued a decree setting the kilo price at 691 colons, effective May 22. That is 43 colons lower than the current price, about 9 U.S. cents.

Rice producers, represented by the Asociación Nacional de Productores Arroceros, oppose any reduction in the price of rice. The ministry tried to reduce the price of rice by 100 colons a kilo, some 20 U.S. cents, but a February decision by the Tribunal Contencioso Administrativo set the price to the producer at 22,604 or about $45.71 per each 76.3 kilo sack. The ministry wanted a price of 20,050 colons, about $40.55.

Most Costa Ricans eat rice at most of their meals, so the price that the government fixes is an important issue. The May effective date provides for a new harvest.

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