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IFPRI reports that global rice prices have risen since India banned non-basmati exports on July 20, with Thai prices up 14% and Vietnamese prices up 22%. Myanmar also banned exports, and the Philippines set retail price ceilings.
A strengthening El Niño is raising fears of further output losses in South and Southeast Asia, which together account for about 58% of world production.
Export restrictions by major exporters cut global rice availability, and El Niño threatens yields in key producing regions, so prices are likely to stay firm or rise. Buyers should expect elevated rice costs.
southasia.ifpri.infoJOSEPH GLAUBER AND ABDULLAH MAMUNNov 27, 2023After 168 past bullish policy events, Rough Rice moved a median +0.8% over 5 sessions (57% higher; middle half -1.7% to +2.1%), and -0.4% 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.
