Global balance: Rice prices seek stability

In January, world rice prices rose again, but began to fall in the middle of the month. Thai prices rose 2%, as did Indian parboiled rice. In contrast, Vietnamese prices fell by 1.5 to 3%, depending on the categories. Despite India's remaining export restrictions, competition among Asian exporters remains strong. A significant increase in Vietnamese or Thai prices opens up space for Asian competitors, especially Burma, whose prices are more competitive. For now, the market is waiting for India's return to the export market, but it would not be before the arrival of the Rabi harvest in the second quarter of the year. However, despite the recovery in export supply, world prices remain high due to tensions in the Red Sea, increasing transport prices, which have tripled since December. The lengthening of sea routes, via the Cape of Good Hope, creates a shortage of ships, hampering the flow of trade. World trade is expected to shrink even further due to a reduction in import demand, ...