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Rice export prices rose by up to $25 a tonne for Thai rice and $6-10 for Vietnamese and Pakistani shipments over three weeks. Indonesia and Bangladesh are seeking imports, and African nations face pressure to buy.
Sri Lanka has curbed its own imports to support local paddy prices.
Stronger import demand and a forecast drop in global output (FAO 512.8 mt vs 525.6 mt) support higher rice prices. Feed buyers may face firmer rice-based feed ingredient costs.
thehindubusinessline.comSubramani Ra MancombuDec 20, 2022After 189 past bullish trade events, Rough 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.
Asian export quotes rose (Thai up to $25/t, Vietnamese and Pakistani $6-10) on import demand from Indonesia, Bangladesh and Africa, a direct trade-flow and demand driver for rice futures in the same week.
Higher Thai, Vietnamese and Pakistani export quotes amid new import demand from Indonesia and Bangladesh point to stronger rice demand and a trade-flow tightening that would support Rough Rice futures.
Published on the move date, it reports Thai, Vietnamese and Pakistani export price increases of up to $25/t, with Indonesia and Bangladesh seeking imports and African buyers under pressure, which signals stronger import demand and supports rough rice futures.
