Rice Hits 23-month High

Rice decreased to 13.84 USD/cwt, the lowest since August 2026. Over the past 4 weeks, Rice lost 1.31%, and in the last 12 months, it increased 22%.

Rice increased to 15.44 USD/cwt, the highest since September 2024. Over the past 4 weeks, Rice gained 8.04%, and in the last 12 months, it increased 31.13%.

Rice futures traded above $15 per hundredweight, holding close to their highest level since September 2024, as weather risks continued to cloud the supply outlook. While global rice supplies remain ample, erratic weather and below-normal monsoon rains in major Asian producers, particularly India, have raised concerns over crop yields and tightened expectations for future supplies. Milled rice production in India was revised lower to 147 million tonnes for 2026-27, down from 154 million tonnes in 2025-26, though Indian rice prices are expected to stay competitive as the government continues to offload excess stocks. Higher shipping costs have also added to price pressures, while some producers have held back stocks in anticipation of higher prices.