Rice Prices

Rice prices averaged USD 620 per metric ton in March, down 1.8% from February. On 29 March, the commodity traded at USD 601 per metric ton, down 3.8% from 29 February.

Following February’s decline, rice prices retreated further in March. The USDA’s latest report was bearish, citing increased projections for global supply, trade and ending stocks, coupled with a softer demand outlook. That said, India’s ongoing export ban kept prices elevated.