Global rice market analysis

Published 2023년 6월 21일

Tridge summary

Global rice prices have reached their highest level since 2011, with the recent rise attributed to concerns over El Niño and production hiccups due to drought in South American exporting regions. The Rice Growers Association of the United States forecasts a convergence of prices among major Western Hemisphere exporters, with an anticipated decrease in U.S. prices and increase in South American prices due to a reduced exportable supply from Brazil and Argentina. The Food and Agriculture Organization of the United Nations (FAO) also reported a 2.9% increase in rice prices in May, driven by indica quotes, with aromatics and glutinous prices also rising, while Japanese quotes experienced a decrease.

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

Original content

Global rice prices are at their highest level since 2011, leading the latest rise amid concerns over the potential effect of El Niño. In its June 16 Rice Advocate publication, the Rice Growers Association of the United States predicted “price convergence across the board for major exporters in the Western Hemisphere; that is, long grain prices in the US will fall and prices in South America will rise.” “Production hiccups due to drought in some of South America's main exporting regions have constrained exportable supply, so firm prices are in the future for this region,” added US Rice. “Brazil is down 7% year-on-year and Argentina is down 20% year-on-year, for a total expected supply reduction of approximately 5%. None of this will happen until closer to harvest, while we now expect a stagnant rice market and a quiet export market with scarce stocks to blame.” Reporting in its June 2 rice price update, the Food and Agriculture Organization of the United Nations (FAO) said rice ...

Source: Agrolink