Record Rice Crop Boosting Stockpiles to Decade High: Comm
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Rice stockpiles are poised to reach the biggest in almost a decade as record harvests boost supplies and imports decline for the first time in three years.
Inventories may gain 3 percent to 100.1 million metric tons, the most since 2003, as global imports contract 7.5 percent, the U.S. Department of Agriculture says. The Thai export price, a global benchmark, may tumble as much as 11 percent to $500 a ton in the first half, the lowest since June last year, the median of 11 trader and exporter estimates compiled by Bloomberg shows.