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Vietnam, the world's third-largest rice exporter, has started buying rice from India for the first time in decades after local prices hit a nine-year high. Indian traders are contracted to supply 70,000 tonnes of 100% broken rice for January and February at about $310 per tonne FOB.
Tight Asian supplies and a large India-Vietnam price gap are shifting import demand toward Indian rice, which could lift global rice prices through 2021.
dtnext.inPTIJan 5, 2021After 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.
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.
