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Vietnam's 5% broken rice reached US$498 per metric ton, the highest since April 2021, while Thailand's quotes held at US$490-495 and Indian parboiled rose to a three-month high. Traders cited tight supplies and El Nino concerns, and Vietnam's January-May exports rose 30.8% year on year.
Tight Asian supply and El Nino drought risk support rice export prices, which can lift feed-grade rice and substitute grain costs for buyers. Strong export demand suggests prices will stay firm near term.
fareasternagriculture.comMinhaj ZiaJun 19, 2023After 179 past bullish weather events, Rough Rice moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.5%), and +2.2% 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.
