The Brazilian government has made available 120 million Reais to stabilize the price of oranges on public auctions. Regulation Nº 841, assigned by several ministries and outlining criteria for participation in the auctions, was published in el Diario Oficial de la Unión (DOU) last Wednesday.
The auctions are being monitored by the Compañía Nacional de Abastecimiento, basically the National Board of Auctions.
By the end of the year, several auctions will be held in order to regulate excessive production, presently estimated to be between 15 and 20 million crates.