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Rough rice futures for July rose 0.6% to $16.34 per hundredweight on Monday as analysts warned rice could be the next grain hit by the global food crisis. The FAO Food Price Index showed rice prices rising for a fifth straight month to a 12-month high.
Export bans on wheat and palm oil are raising fears of protectionism spreading to rice, which could tighten supply. Analysts note global rice stocks remain high, so the upside is limited for now.
forbesmiddleeast.comMohamed Rashed Alkhalifa, Joyce Abaño, Julian Nabil, Omar ElWakeelJun 13, 2022Not enough comparable past events yet for a historical read.
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.
