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SunRice is offering forward fixed-price contracts to Australian rice growers, paying $475 per tonne for Reiziq, $525 for Doongara and $625 for Koshi, to secure local supply for the 2021 harvest. Local stocks are almost exhausted, and last season's crop totalled only 45,000 tonnes.
With Australian supply short and irrigation water likely constrained, SunRice must source most of its roughly 1 million tonne annual requirement overseas, which supports firm rice prices in the export market.
farmonline.com.auAndrew MarshallJul 24, 2020After 21 past bullish logistics events, Rough Rice moved a median -0.5% over 5 sessions (38% higher; middle half -2.0% to +1.8%), and +3.6% 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.
