Rice Prices in Asia Poised to Stay Elevated on Tight Market
- India’s export curbs expected to stay in place until election
- Thai white 5% broken rose to fresh 15-year high in December
Thailand’s rice exporters association expects the nation’s exports to drop this year as demand eases, most notably from Indonesia following its election.
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The rice market is set to remain tight at the start of the year on India’s ongoing export restrictions and an expected boost from festival demand, providing impetus for elevated prices to climb even higher.
The grain is vital to the diets of billions and further price gains would stretch household budgets. Thai white rice 5% broken — an Asian benchmark — eased to $646 a ton on Wednesday, slipping for the first time since early December, but still remains near a 15-year high.