Analysis:Global rice prices have hit a floor, but India's supply glut will smother any gains

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Analysis:Global rice prices have hit a floor, but India's supply glut will smother any gains - Channel News Asia

Quick Summary:

MUMBAI :Global rice prices, which have tumbled to multi-year lows, are unlikely to fall further with top exporter India's currency firming, but bulging Indian stockpiles and a bumper Asian crop will cap any rebound this year, industry executives say.

For 2025, Thailand's exports are likely to drop 24 per cent from a year ago to 7.5 million tons, while Vietnam's are expected to fall 17 per cent, also to 7.5 million tons, trade bodies in the two countries estimate.

Global rice output is expected to reach a record 543.6 million metric tons in 2024/25, up from 535.4 million tons the previous year, according to estimates from the Food and Agriculture Organization.