Rice Prices

Rice prices averaged USD 584 per metric ton in September, down 0.7% from August. On 30 September, the commodity traded at USD 570 per metric ton, down 5.3% from 30 August.

Price dynamics were largely dominated by news of India lifting its export ban—introduced in July 2023 and pushing prices to a 15-year high—and reducing export duty. The move, which tempered prices, came on the back of rising state inventories amid the approaching harvest.