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Thai and Vietnamese rice exporters are renegotiating prices on about 500,000 tonnes of August-shipment contracts. Sellers are seeking higher prices following the surge in world rice markets after India's ban.
Buyers face higher costs or defaulted contracts.
Contract repricing confirms firmer Asian rice export values, so importers should expect higher landed costs for rice-based feed and food inputs.
reuters.comNaveen ThukralAug 1, 2023After 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.
Thai and Vietnamese exporters renegotiating 500,000 tons of contracts shows alternative suppliers raising prices, tightening availability and pushing benchmark prices higher on the same day.
