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What are some factors determining the price of rice in international markets?

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Price Trend
Sep 16, 2021
Edited By
Jinwoo Cheon
Sep 16, 2021
Edited By
Jinwoo Cheon
The most common factors that influence the price of Indian rice in the international markets include weather trends, minimum support price, government policies, and production from competitor countries.
  • Weather trendsThe effect of weather fluctuations is an important factor in the price of rice as a commodity. Temperature, rainfall, and soil moisture are the important parameters and also natural calamities;
  • Minimum Support Price: Changes in the minimum support prices (MSP) by the government also have an immense impact on the price of rice;
  • Government policies: Exchange rates, Fiscal policies, Export incentives, and export promotion also influence the price; and
  • Production from competitor countries: Production from competitor countries for a similar variety of rice plays an important role. Under production or overproduction of rice from the top or upcoming exporting countries can affect price level determination.
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