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Australian rice production in the Southern Riverina fell from 623,000 tonnes to under 10% of that in 2019 and 2020 due to water shortages, costing more than 200 jobs. Water prices reached $500-$600 per megalitre, making rice growing unviable, and growers are seeking access to above-100% allocations as Murrumbidgee dams recovered.
Sharp Australian rice output losses reduce exportable supply, supporting global rice prices. Water scarcity limits any quick recovery in volumes.
bordermail.com.auEllen EbsaryMay 5, 2021After 179 past bullish weather events, Rough Rice moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.5%), and +2.2% 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.
