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West African parboiled rice prices fell to an 11-month low, with Platts assessing 5% STX CFR Cotonou at $535/mt on Oct. 25.
The drop follows India's removal of its 10% parboiled export duty and the end of the white rice minimum export price. Buyers are holding off on purchases, expecting further price declines despite upcoming seasonal demand.
Lower Indian export costs are passing through to West African import prices, and cautious buying suggests continued softness in global parboiled rice prices.
spglobal.comNanditha Kinavoor madathilOct 28, 2024After 100 past bearish policy events, Rough 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.
