Rice Prices

Rice prices averaged USD 427 per metric ton in March, down 3.4% from February. On 31 March, the commodity traded at USD 423 per metric ton, down 1.9% from 28 February.

Rice traded at the lowest prices since July 2022 on an improving supply outlook. After inventories in India reached a record high in February, authorities continued to loosen export restrictions in March. Additionally, sluggish demand and competition from cheaper exports from Pakistan and Vietnam weighed on prices further.