# Reduction of benchmark value affecting us - Rice milling company

> Ghanaian milling company Avnash Industries says lower customs charges at ports have made imported rice cheaper, forcing it to cut local rice prices from GHS183 to GHS155 per bag. The company holds about 200,000 bags bought from farmers and warns that stored stock is at risk of spoilage.

- Date: 2019-11-18 · published 2019-11-18T12:00:00.000Z
- Category: trade · region Ghana · magnitude low
- Page: https://feedsoft.ai/events/56137-reduction-of-benchmark-value-affecting-us-rice-milling-company
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

Cheaper imported rice undercuts local Ghanaian prices, reinforcing a bearish outlook for rice trade in West Africa.

## Read by commodity

- RICE: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2019-08-22 | [Vietnam’s rice exports exceed 3.1 billion USD amid diverging markets - VCCI - Vietnam Chamber of Commerce and Industry](https://feedsoft.ai/events/57676-vietnam-s-rice-exports-exceed-3-1-billion-usd-amid-diverging-markets-vcci.md) | +3.9% | +13.3% |
| RICE | 2025-01-03 | [Reducing export restrictions on rice to encourage agri-shipments to surpass $50 billion in FY25 - Agro Spectrum India](https://feedsoft.ai/events/26471-reducing-export-restrictions-on-rice-to-encourage-agri-shipments-to-surpass-50.md) | +1.6% | -1.4% |
| RICE | 2024-11-07 | [‘Lifting of MEP on non-Basmati rice helps India compete globally’ - The HinduBusinessLine](https://feedsoft.ai/events/27370-lifting-of-mep-on-non-basmati-rice-helps-india-compete-globally-the.md) | +3.3% | +4.8% |
| RICE | 2020-04-03 | [As Fears Over Rice Exports Grow, India May Continue Selling - Bloomberg](https://feedsoft.ai/events/53616-as-fears-over-rice-exports-grow-india-may-continue-selling-bloomberg.md) | +1.9% | +17.8% |
| RICE | 2025-01-02 | [India to export 1 million tonne of white rice to Indonesia \| Business News](https://feedsoft.ai/events/26468-india-to-export-1-million-tonne-of-white-rice-to-indonesia-business-news.md) | +0.1% | -0.6% |

## Sources

- citinewsroom.com: https://www.citinewsroom.com/2019/11/reduction-of-benchmark-value-affecting-us-rice-milling-company/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.