Rice Mill for Sale for $2 million

The rice mill belonging to producers in Chiriqui is now being offered at $2 million, $1 million less than the initial price.

Thursday, April 26, 2012

After a failed attempt to sell the rice mill members of the Rice Producers Association and Basic Grains of Chiriqui (Apach) in Alanje, have reduced the price from $3 million to $2 million.

At an auction last week made through the Agricultural Commodity Exchange only one proponent presented themselves with a bid of only a million dollars, reported Prensa.com.

The Apach has debts of $6 million with the Banco Nacional de Panama, which is why the mill is being auctioned in order to pay the debt.

More on this topic

New Rice Plant in Costa Rica

September 2013

Corporación Arrocera de Costa Rica has invested $3 million in order to increase its production capacity by 60 million quintals per month.

Elfinancierocr.com reports that "Despite being in a competitive market where there are many brands and companies involved, Cacsa claims to have about a 20.3% share of the rice market.

Rice Mill in Chiriqui Unsold

April 2012

The auction of a rice mill by the Association of Rice Producers of Chiriqui was declared void because of lack of offers to reach the established base price.

The base price for auction through the Agricultural Commodity Exchange was $3.5 million, well above the single offer of $1.4 million by a group of seven millers.

$3 Million for Rice Mill

July 2009

Beginning in December this year, rice growers from the province of Chiriquí, Panamá, will have the country's biggest rice mill.

The new infrastructure from the Rice Growers Association of Chiriquí (APACH) will be located in Alanje, in the province of Chiriquí, and will have a storage capacity of half a million quintals.

Rice Production and Prices in Panama

May 2009

Local production of the grain is increasing and approaching self-sufficiency figures, while prices are stable.

The cost of supplies has fallen considerably (50%), which enables an increase in planted area and it could exceed 70 thousand hectares, with yields in excess of 100 thousand quintals per hectare in 2009. In this manner, there would be enough production to achieve self-sufficiency.

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