Rice Hits 26-month High

Rice increased to 16.17 USD/cwt, the highest since July 2024. Over the past 4 weeks, Rice gained 11.1%, and in the last 12 months, it increased 41.43%.

Rice futures rose above $16 per hundredweight, their highest level since July 2024, amid expectations of tighter supply. While global rice supplies remain ample, erratic weather and below-normal monsoon rains in major Asian producers continue to cloud the supply outlook. Top exporter India is on course for its weakest monsoon in nearly two decades in the face of a strengthening El Nino weather phenomenon. The country's rice output is set to fall this year for the first time in a decade, with the decline expected to be the steepest in nearly 20 years. On the other hand, favorable rainfall in Thailland's key growing regions is expected to boost next year's off-season rice crop. Meanwhile, Indonesia has brought forward planting and distributed water pumps to protect rice production from drier El Niño conditions. Rice output is estimated at 31.41 million tons in January-October, little changed from 31.44 million tons a year earlier, according to statistics bureau data.

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%.