Ups and downs in the world rice market

Pede, Valerien and David Dawe (2024). Ups and downs in the world rice market. Rice Today, July 2, 2024. International Rice Research Institute.

International rice prices have risen substantially. Over the past year, the main factors driving world market prices have been El Niño and the export restrictions from India, the world’s largest rice exporter. Since January 2024, however, prices have declined as El Niño conditions have ended. Fertilizer prices have declined substantially from their peaks in mid-2022 and have stabilized over the past year. These factors give grounds for optimism that international rice prices will stabilize or decline further in the near future.