
Global rice prices fell last week to their lowest level in eight years, with Thai 5% white rice dropping to $372.5 per ton, the lowest since 2017. The decline is attributed to record harvests, rising global stocks, and India lifting its export ban.
Demand has also weakened, with Indonesia not resuming active buying and the Philippines banning imports until October.
Abundant supply from India, Thailand and Vietnam combined with weaker import demand points to continued downward pressure on rice export prices.
Not enough comparable past events yet for a historical read.
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.
Reports of eight-year-low global rice prices on record harvests, rising stocks, India's lifted export ban and weak Indonesian and Philippine demand reinforce bearish supply/demand sentiment that plausibly drove the drop.
Global rice prices at an eight-year low on record harvests, rising stocks, India's lifted export ban and weak Indonesian and Philippine demand set a bearish backdrop that supports further declines.