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Indonesia's government plans to import 500,000 tons of rice and other staples to stabilize prices that have risen to their highest level in five years. The trade minister said prices fell after the import plan was announced, though volatility remains.
The FAO has recommended a larger national stockpile than currently held.
Large state-led import demand tightens the Asian rice market and supports export prices from suppliers such as Thailand and Vietnam. Buyers should expect continued firmness while the purchases are executed.
xinhuanet.comJan 18, 2018After 189 past bullish trade events, Rough Rice moved a median +0.2% over 5 sessions (52% higher; middle half -1.7% to +2.4%), and +1.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
