Global Markets: Rice – Trade Contracts on Low Exportable Supplies

Published 2020년 8월 13일

Tridge summary

The global rice trade is expected to decline in 2020 due to export restrictions and reduced supplies, with Thailand seeing the sharpest decline due to a poor crop and high prices. Vietnam has become the second-largest global exporter, and Brazil's exports have partially offset the declines in Southeast Asia. However, global import demand has weakened, especially in West Africa, with Nigeria forecasting the lowest imports in about 20 years. Parboiled rice trade, dominated by India and Thailand, has also declined, with Nigeria seeking greater self-sufficiency and serving as a port of entry for parboiled rice from neighboring countries.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Global rice trade is forecast down in 2020 during a chaotic trading year impacted by export restrictions at the beginning of the COVID-19 pandemic and by reduced supplies in Thailand. Limited exportable supplies and relatively high prices are some key drivers of the global contraction of trade. The exporter with the sharpest decline is Thailand. Exportable supplies have been limited by a poor Thai crop which was affected by drought. Thai prices have been consistently higher than its regional competitors. However, Thai exports did have a brief window of opportunity when Vietnam, Cambodia, and Burma instituted export bans and quotas in the spring. With these restrictions having lasted only a couple of months, Thai exports have since faltered following these competitors’ re-entry into the market. Thailand is forecast to export only 6.5 million metric tons (MMT) in 2020, its lowest since 1998. Vietnam is now projected as the second-largest global exporter, despite its ban earlier in ...

Source: Agfax