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Thailand's rice management committee will offer 45.3 billion baht ($1.29 billion) in loans to jasmine rice farmers, conditional on storing grain for six months. Thai 100% jasmine rice was quoted at $725 per tonne FOB Bangkok, the lowest in years.
Storage loans aim to hold back Thai jasmine supply during the new harvest, which may limit further price declines, but the program adds to the global rice glut.
stabroeknews.comNov 2, 2016After 168 past bullish policy events, Rough Rice moved a median +0.8% over 5 sessions (57% higher; middle half -1.7% to +2.1%), and -0.4% 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.
