{"id":13403,"date":"2024-01-10T19:35:00","date_gmt":"2024-01-10T19:35:00","guid":{"rendered":"https:\/\/ricenewstoday.com\/?p=13403"},"modified":"2024-01-10T19:45:54","modified_gmt":"2024-01-10T19:45:54","slug":"rice-prices-poised-to-climb-higher-as-market-remains-tight","status":"publish","type":"post","link":"https:\/\/ricenewstoday.com\/dev\/rice-prices-poised-to-climb-higher-as-market-remains-tight\/","title":{"rendered":"Rice prices poised to climb higher as market remains tight"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"770\" height=\"431\" src=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2024\/01\/rice-ban-bbo-770x433-1.png\" alt=\"\" class=\"wp-image-13404\" srcset=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2024\/01\/rice-ban-bbo-770x433-1.png 770w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2024\/01\/rice-ban-bbo-770x433-1-600x336.png 600w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2024\/01\/rice-ban-bbo-770x433-1-300x168.png 300w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2024\/01\/rice-ban-bbo-770x433-1-768x430.png 768w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/figure>\n\n\n\n<p>The rice market is set to remain tight at the start of the year on India\u2019s ongoing&nbsp;export restrictions&nbsp;and an expected boost from festival demand, providing impetus for elevated prices to climb even higher.<\/p>\n\n\n\n<p>The grain is vital to the diets of billions and further price gains would stretch household budgets. Thai white rice 5% broken \u2014 an Asian benchmark \u2014 rallied to a fresh 15-year high at the end of last year of $659 a ton.<\/p>\n\n\n\n<p>\u201cWe know rice markets will remain tight for the foreseeable future, largely due to India\u2019s export ban,\u201d according to Peter Clubb, a commodities market analyst at the International Grains Council in London. \u201cWe also have Eid coming up in April, and the period before Eid tends to see good demand from markets with significant Muslim populations in Asia and Africa.\u201d<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2024\/01\/406148018-1024x576.png\" alt=\"\" class=\"wp-image-13405\" srcset=\"https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2024\/01\/406148018-1024x576.png 1024w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2024\/01\/406148018-600x338.png 600w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2024\/01\/406148018-300x169.png 300w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2024\/01\/406148018-768x432.png 768w, https:\/\/ricenewstoday.com\/dev\/wp-content\/uploads\/2024\/01\/406148018.png 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Top shipper India is expected to keep its export restrictions in place until at least a general election in April or May, as Prime Minister Narendra Modi seeks to contain local prices before voters head to the polls. The onset of El Ni\u00f1o and its potential impact on key growing areas has added to supply concerns.<\/p>\n\n\n\n<p>Nations across Asia and Africa have scrambled to secure supply since India ramped up its restrictions in July. Rice inflation in the Philippines has surged, while Indonesia has asked its military to help farmers&nbsp;boost output. The nation is a major importer and is gearing up for a presidential election next month.<\/p>\n\n\n\n<p>Still, prices are unlikely to revisit the 2008 record above $1,000 a ton, which coincided with broader export bans. Farmers in Vietnam\u2019s Mekong Delta could start harvesting their new crop this month, alleviating some supply concerns. The winter-spring harvest typically yields the nation\u2019s biggest crop.<\/p>\n\n\n\n<p>Thailand\u2019s rice exporters association, which sets Thai white 5% broken prices, also expects the nation\u2019s exports to drop this year as&nbsp;demand eases, most notably from Indonesia following its election. Thailand is the world\u2019s second-biggest exporter of the grain, while Vietnam is the third largest.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The rice market is set to remain tight at the start of the year on India\u2019s ongoing&nbsp;export restrictions&nbsp;and an expected boost from festival demand, providing impetus for elevated prices to climb even higher. The grain is vital to the diets of billions and further price gains would stretch household budgets. Thai white rice 5% broken [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13404,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[176],"tags":[46,167,160],"class_list":["post-13403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-asian-rice","tag-indian-rice","tag-rice-export"],"acf":{"enable_premium_overlay":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rice prices poised to climb higher as market remains tight - Rice News Today<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rice prices poised to climb higher as market remains tight - Rice News Today\" \/>\n<meta property=\"og:description\" content=\"The rice market is set to remain tight at the start of the year on India\u2019s ongoing&nbsp;export restrictions&nbsp;and an expected boost from festival demand, providing impetus for elevated prices to climb even higher. 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