Rice

Rice futures were trading around $16.8 per hundredweight, a level not seen in over a month, mainly pressured by a stronger dollar. Still, rice prices remained elevated, having touched a near one-year high of $17.8 on May 16th supported by a combination of strong demand in various Asian exporters, purchases by Near Eastern and Chinese buyers, and weather setbacks in America. At the same time, concerns grew about rice supply as exporters weighed up potential curbs in shipments. Traders in India, the world’s biggest rice exporter, were stepping up orders for future deliveries due to concerns the government was set to restrict overseas sales, as it did recently with wheat and sugar. Historically, Rice reached an all time high of 24.46 in April of 2008. Rough Rice futures so called US. No. 2 are traded in the Chicago Board of Trade (CBOT). The standard contract unit is 2,000 hundredweights (CWT) an equivalent of 91 Metric Tons. The biggest exporters of rice are Thailand, Vietnam, India and the United States. The biggest consumer of rice is China, followed by India, Indonesia, Bangladesh and Vietnam. The rice market prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our rice market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.

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