Rice Futures Hit Near 2-Month Low

2026-04-28 08:35 By Luisa Carvalho 1 min. read

Rice futures eased to near $10.6 per hundredweight, the lowest since early March, pressured by expectations of abundant global supply.

The International Grains Council estimated the 2026-27 global rice production at a record 548 million tonnes, up 1% from the previous season, supported by strong harvests in India, Vietnam, Thailand, Pakistan, China, Bangladesh, Indonesia, and the Philippines.

Notably, rice reserves in Indonesia hit an unprecedented 5,000,198 tons as of April 23, 2026, a historic high.

However, over the medium term, the market is likely to feel the effects of Middle East conflict.

Key producers in Southeast Asia are grappling with rising fuel, freight, and fertilizer costs, driven by shipping disruptions in the Strait of Hormuz.

In Vietnam and Thailand, farmers are reportedly scaling back or even suspending planting as higher input costs erode profitability.

At present, the region is harvesting its off-season crop, with the main planting season set to begin in May.



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