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

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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.

While lower rice prices will benefit price-sensitive consumers in Africa and other regions, they are likely to further squeeze the already meagre earnings of farmers across Asia, which produces nearly 90 per cent of the world's rice.

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Category: EconomyBusiness

Markets: SingaporeGhanaIndiaIndonesiaIvory CoastNigerNigeriaPakistanPhilippinesSaudi ArabiaSenegalThailandUnited StatesVietnam

Topics: India Global Thailand Rice Exporters Government Million Tons Year Prices Cent

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-07 @ 09:40:00 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 989 words

Reading Time: 6 minutes read

Sentences: 38 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 28456451

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