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. Source- Admin
