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The Philippines' finance secretary said the country, a top rice importer, may buy more cargoes from outside Southeast Asia, citing India as a cheaper source. The government has cut its most-favored-nation rice tariff to a single 35% rate, down from 40% in-quota and 50% out-of-quota, to diversify supply and contain food inflation.
Shifting demand toward lower-priced Indian rice and a lower tariff could pressure Asian export quotes, particularly Vietnamese and Thai rice. The effect on U.S. rough rice futures is likely limited.
uk.marketscreener.comMarketScreener UKJun 7, 2021After 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.
