Spanish Rice Production for the 2023 Season Is Expected to Drop 40-50% Due to Drought

The 2023 Spanish rice season has begun its harvest, which will continue until October. However, a forecasted 40-50% reduction in quantity is expected due to drought. Historically, rice prices in the husk have ranged from USD 300.22 to USD 343.11/mt. However, Spain has faced quantity challenges since the 2022/23 season, with rice prices in the husk soaring to USD 514.67/mt for mixed variety. Meanwhile, for the upcoming 2023/24 season, it is predicted that prices will further increase to USD 589.72/mt.