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Ghanaian rice farmers in the Northern Region cannot sell harvested rice because off-takers have stopped buying. Buyers cite a benchmark value discount that has made imported rice cheaper, and farmers are offering bags at much lower prices.
Cheap imports and a benchmark discount depress local rice prices and farm incomes in West Africa, reducing domestic grain demand.
ricefarming.comKatie GuthrieJan 16, 2022After 141 past bearish trade events, Rough Rice moved a median +0.6% over 5 sessions (57% higher; middle half -2.3% to +2.4%), and -0.6% 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.
