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Global rice prices reached 11-year highs in early July, and India moved to boost farmer payments. El Niño threatens yields in key producers, and India accounts for over 40% of world rice exports of 56 million tonnes in 2022.
Low inventories mean any Indian export cut would amplify price gains, and El Niño adds weather risk to supply. Buyers should expect firmer rice and staple prices.
reuters.comRajendra JadhavJul 6, 2023After 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.
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.
