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Oct 11, 2023WEATHERAsia

Asia Rice Market Braces for More Stress From El Niño After Export Curbs

Asian rice markets face further stress from El Niño after India's export restrictions. Drier weather threatens production and could tighten global supply.

Prices have cooled recently from near 15-year highs.

WHY IT MATTERS

Potential El Niño crop losses in Asia could tighten global rice supply and support prices if production falls further after India's export curbs.

AFFECTSRough Rice▲

SOURCE
bloomberg.comBen Sharples, Anuradha RaghuOct 11, 2023

Price reaction & history

Rough Rice▲bullishSO FAR1d +0.4%5d -0.1%20d +2.8%

After 179 past bullish weather events, Rough Rice moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.5%), and +2.2% over 20.

May 15, 2023Rice markets in South and Southeast Asia face stresses from El Niño, export restrictions | IFPRI-6.6%
Aug 2, 2023Rice Supply Faces New Threat as Thailand Urges Crop Curbs - Bloomberg+0.3%
Jul 11, 2023Rice Soars to Two-Year High in Asia on El Niño Drought Risks - Bloomberg-19.6%
Aug 30, 2023From rice to palm oil, Asian crops output forecast lower as El Nino strengthens+1.2%
Sep 6, 2023From rice to palm oil, crop output forecasts for Asia-Pacific lower as El Nino strengthens | The Straits Times-6.2%

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.

Rough Rice RICE · GP ▸

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