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Vietnamese 5% broken rice reached $550-575 per tonne, its highest since 2011, and Thai 5% broken hit $605-610, an 11-year peak, after India's ban on non-basmati white rice exports. Indian parboiled rice also rose to a 5.5-year high, while exporters have paused new contracts.
India supplies about 40% of world rice exports, so the ban is tightening global supply and lifting Asian export prices further. Buyers should expect firm rice prices and possible substitution into other grains.
ukragroconsult.comJul 31, 2023After 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.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% 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.
