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Mexico opened a 150,000 metric-ton tariff rate quota for rice imports from countries without a free trade agreement, published March 1, 2017. This lets Vietnam ship rice without the usual 20 percent tariff.
Vietnam exports over 5.5 million tons annually and is expected to reach about 6 million tons this year.
Cheaper Vietnamese rice entering Mexico threatens U.S. long grain export share, which is bearish for U.S. rice prices.
agri-pulse.comBill TomsonApr 26, 2017After 141 past bearish trade events, Rough Rice moved a median +0.6% over 5 sessions (57% higher; middle half -2.3% to +2.4%), and -0.6% 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.
