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Asian 5% broken white rice prices converge sub-$400/mt FOB for the first since December 2019.
Jul 20, 2021

On July 15 – for the first time since Dec. 19, 2019 – S&P Global Platts' assessments of Thai, Indian, Pakistani and Vietnamese 5% broken white rice were all assessed below $400/mt FOB.
 
The turnaround has been stark. Exactly a month before, not a single one of these assessments were below $400/mt FOB. As recently as late-March, both Thai and Vietnamese 5% broken white rice were assessed by Platts above $500/mt FOB.
 
Each country has its own specific context, but the recent correction is not unusual in anything aside from in its scale. Each year, Asian white rice prices typically see a downward correction around June-August. In Pakistan, exporters seek to clear stocks ahead of harvesting from late August. Both Thailand and Vietnam are harvesting off-season crops at this point in the year, while Indian farmers have also just concluded their off-season rabi crop harvest.
    

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