Commodities
Rice Plunges the Most in 16 Years After India Eases Export Curbs
- Asian benchmark Thai white 5% broken declines to $509 a ton
- India has loosened some restrictions after national elections
Rice prices tumbled the most in more than 16 years in Asia as concerns over supply eased after India relaxed some export restrictions.
Thai white rice 5% broken — an Asian benchmark — plunged about 11% to $509 a ton on Wednesday, according to the Thai Rice Exporters Association. That was the biggest decline in data compiled since May 2008, and extended a prolonged slide in prices to the lowest level in more than 15 months.