Rice Hits 31-week High

Rice futures rose toward $11.7 per hundredweight, the highest since mid-September 2025, amid rising risks to the supply outlook. Global rice supplies are expected to decline this year as farmers across Asia reduce planting due to fertilizer shortages and higher fuel costs linked to the Iran war. At the same time, the emergence of El Niño is expected to bring hotter and drier conditions to the region in the second half of the year, potentially further curbing production. Fertilizer shortages and drought are already weighing on yields from smaller crops being harvested in Southeast Asia, while the upcoming main harvest is expected to face even greater pressure. India, Thailand and the Philippines plant their main crops in June and July, while Vietnam and Indonesia are currently sowing their second-season crops. Despite these risks, global rice stocks remain ample after years of strong production, with top exporter India holding a record 42 million tons.

Rice increased to 11.49 USD/cwt, the highest since September 2025. Over the past 4 weeks, Rice gained 3.53%, and in the last 12 months, it decreased 8.96%.

Rice decreased to 10.63 USD/cwt, the lowest since March 2026. Over the past 4 weeks, Rice lost 5.57%, and in the last 12 months, it decreased 14.31%.