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Basmati rice rose about 10% in June 2020 to $1,000-1,200 a tonne from $900-1,100 at the end of May. Demand surged from Indian households and overseas buyers after the 70-day nationwide lockdown disrupted supply, and pipeline stocks ran down.
The Karnal basmati paddy spot price also rose 10% in a month.
Pipeline restocking on top of disrupted supply tightened basmati availability and lifted prices. Buyers should expect firm aromatic rice values while export demand holds.
business-standard.comDilip Kumar JhaJul 1, 2020After 189 past bullish trade events, 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.
Strong June basmati price gains from domestic and export demand after lockdown disruptions and depleted pipeline stocks signal firm Asian rice demand that could support US rough rice futures.
