Continuing downward trend of global rice prices

In August, global rice prices fell again by 1.7%. The abundant exportable supply continues to weigh on world prices. Moreover, global demand remains weak, especially in Indonesia, thanks to an improvement in production, and particularly in the Philippines, where the government has decreed a two-month import ban until the end of October. In contrast, Bangladesh's import demand is at its highest level in seven years due to floods that have affected a significant portion of production; import forecasts would be 1.2 Mt in 2025. In recent weeks, the fall in export prices has been significant, especially in Thailand and Pakistan, as well as in the United States. In the Mercosur countries, the price contraction was more moderate, while in India, prices remained relatively stable. In contrast, Vietnamese prices strengthened due to the drop in domestic supply. With the progressive arrival of the main Asian harvests and the announcement of the release of Indian stocks, the downward trend in ...