Rice Prices Nearly One-Month Highs

2026-03-09 14:44 By Joana Taborda 1 min. read

Rice futures rose above $11 per hundredweight in March, the highest level in about a month, tracking broader gains in grain markets amid the war involving Iran.

The conflict has pushed insurance premiums, container freight rates, and fuel costs higher, while also disrupting shipping routes.

On the supply side, the FAO, in its latest Cereal Supply and Demand Brief, increased its 2025/26 global rice production forecast by 1.7 million tonnes to 563.4 million tonnes (milled basis), representing a 2.1% yoy increase and a record high.

Bangladesh, Brazil, China, India, and Indonesia are expected to lead the season’s production growth, more than offsetting declines projected for Madagascar, Pakistan, Thailand, and the US.

Production estimate for Indonesia was also raised, as final government assessments indicate that a significant expansion in harvested area lifted Indonesian output to a decade high.

Production estimates were also revised higher for Thailand.



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