Rice futures have been trading around 12.5USD/CWT since September 18th, as the market stabilized after hitting a 12-year high of $22.06 USD/CWT back in June due to a sharp increase in demand in light of the coronavirus pandemic. Still, China, the world’s largest rice producer, started to import rice from India for the first time in at least three decades due to tightening supplies from Thailand, Myanmar and Vietnam.
Historically, Rice reached an all time high of 1349 in September of 2020. Rice - data, forecasts, historical chart - was last updated on December of 2020.
Rice is expected to trade at 12.23 USD/CWT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 11.29 in 12 months time.