The Ministry of Agriculture, Livestock and Supply set the minimum price of a 40.8 kilo-box of oranges at 11.45 reais for the 2014/2015 harvest in Brazil. This value will be in effect until March 2015. The price was posted in the Ordinance Nº 429 in the Official Journal of the Union on Friday May 16.
The minimum price is the benchmark to be used in the Producer Price Guarantee Funding operations, the Funding for the Storage of Agricultural Products Members of the PGPM and that have financial subsidies, in the form of equalization prices.
The government had already announced the 13% increase on the minimum price of the previous crop in March this year. The industry expects the market price of the 40.8 kilo-box of oranges to be above 13 reais.
