Rice Prices

Rice prices averaged USD 381 per metric ton in August, down 3.4% from July. On 29 August, the commodity traded at USD 370 per metric ton, down 4.4% from 31 July.

Rice prices plunged to an over five-year low in August as India’s supply glut continued to weigh on prices. Moreover, the Japanese government lifted a de facto cap on rice output in August to ease cost of living pressures, which could weigh on prices further.