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Indonesia's state agency Bulog received first offers in an international tender to buy about 300,000 tonnes of rice for delivery by May 31, with the lowest Vietnamese offer at about $609/t cost and freight. No purchase had been reported, and a decision was expected later that week.
Indonesia has been raising rice imports after El Nino cut output and pushed rice prices up more than 16% year on year.
A large Indonesian import tender supports Asian rice export demand and firm prices, though the low offer suggests competitive pricing pressure.
tradologie.comPravarsh SharmaMar 30, 2024After 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.
