Tridge summary
In August, global rice prices fell by 1.5% due to decreases in Vietnamese and Pakistani prices, though Thai prices rose by 2%. However, the global market is under strain due to India's proposal to ban broken rice exports and impose a 20% tax on all rice types, except parboiled and basmati, aiming to stabilize domestic prices. These measures could impact the global market, especially considering over three-quarters of expected exports for 2022 have already been achieved. The OSIRIZ/InfoRice index reflects these changes, showing a decrease in August but a slight rebound in mid-September.
World rice production increased by 1.7% in 2021, with significant increases in Asia, particularly in India and Thailand, despite declines in the United States and Mercosur. However, production forecasts for 2022 have been reduced due to adverse weather conditions in South Asia. In 2021, global rice trade surged by 13%, with India achieving a record export level. As of 2021, world rice stocks increased by 3.1% to 192.2 Mt, representing 38% of global needs.
World rice production increased by 1.7% in 2021, with significant increases in Asia, particularly in India and Thailand, despite declines in the United States and Mercosur. However, production forecasts for 2022 have been reduced due to adverse weather conditions in South Asia. In 2021, global rice trade surged by 13%, with India achieving a record export level. As of 2021, world rice stocks increased by 3.1% to 192.2 Mt, representing 38% of global needs.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
In August, world rice prices decreased again by an average of 1.5%, mainly influenced by the fall in Vietnamese and Pakistani prices. In contrast, Thai prices strengthened by 2% thanks to the recovery of the bath against the dollar. Import demand was generally subdued, except in Bangladesh, where import needs are increasing to supply inventories and mitigate inflationary pressures in domestic markets. In late August, the world market was under friction, which was exacerbated in early September by India's announcement to ban broken rice exports, which account for 20% of Indian rice exports, and to levy a 20% tax on rice. all rice categories except parboiled and basmati rice. These measures aim to reduce pressure on domestic prices. In the past, such restrictions had a strong impact on world prices, as during the first half of 2008. However, the current context is very different. More than three quarters of the world's expected exports in 2022 have already been realized. ...
Source: Agrolink
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