# Platts-assessed Asian rice prices plunge to multi-month low amid India's export ban U-turn

> 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.

- Date: 2024-10-09 · published 2024-10-09T12:00:00.000Z
- Category: policy · region India · magnitude medium
- Page: https://feedsoft.ai/events/27914-platts-assessed-asian-rice-prices-plunge-to-multi-month-low-amid-india-s-export
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

Reopened Indian supply and a large state rice surplus increase competition among exporters, which is expected to keep global rice prices under pressure.

## Read by commodity

- RICE: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2024-09-30 | [Global rice prices to ease as India lifts export ban \| Philstar.com](https://feedsoft.ai/events/28370-global-rice-prices-to-ease-as-india-lifts-export-ban-philstar-com.md) | +0.1% | +0.0% |
| RICE | 2024-10-03 | [Rice Prices Plunge Most in 16 Years After India Eases Export Curbs - Bloomberg](https://feedsoft.ai/events/12944-rice-prices-plunge-most-in-16-years-after-india-eases-export-curbs-bloomberg.md) | +0.0% | -3.9% |
| RICE | 2022-12-01 | [India officially lifts rice export ban](https://feedsoft.ai/events/38310-india-officially-lifts-rice-export-ban.md) | -6.2% | +0.5% |
| RICE | 2024-10-03 | [Global rice price declines to its lowest since 2008 as India eases export restrictions   - Nairametrics](https://feedsoft.ai/events/12947-global-rice-price-declines-to-its-lowest-since-2008-as-india-eases-export.md) | +0.0% | -3.9% |
| RICE | 2025-03-07 | [India allows exports of broken rice to cut stockpiles](https://feedsoft.ai/events/25548-india-allows-exports-of-broken-rice-to-cut-stockpiles.md) | +4.9% | +1.4% |

## Sources

- spglobal.com: https://www.spglobal.com/commodity-insights/en/news-research/latest-news/agriculture/100924-platts-assessed-asian-rice-prices-plunge-to-multi-month-low-amid-indias-export-ban-u-turn

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.