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Rice Today reports that world rice prices have been stable since a steep decline in 2013, despite El Niño and other weather scares. Global production for 2016-17 is expected to reach a record 480 million tonnes milled, up from 472 million.
Thailand still holds about 18 million tonnes of stocks from its abandoned mortgage scheme.
Record global output and large state stocks cap upside for rice prices, though the market is steady rather than falling. Buyers can expect limited price pressure from the global supply picture.
ricetoday.irri.orgMay 9, 2017Not enough comparable past events yet for a historical read.
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.
