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Platts reports Asian rice prices have fallen to multi-month lows after India lifted its ban on non-basmati white rice exports with a $490 per ton minimum export price. Buyers are shifting to competitive origins such as Pakistan, Myanmar and Thailand.
Indian industry expects surplus stocks under OMSS to add further downward pressure.
Reopened Indian supply and a large state rice surplus increase competition among exporters, which is expected to keep global rice prices under pressure.
spglobal.comOct 9, 2024After 100 past bearish policy events, RICE moved a median -0.1% over 5 sessions (49% higher; middle half -1.7% to +1.6%), and +0.1% 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.
