Rice Prices

Rice prices averaged USD 469 per metric ton in July, down 4.0% from June. On 31 July, the commodity traded at USD 465 per metric ton, down 6.4% from 30 June.

In July, rice was the only commodity tracked by our panel of analysts to trade lower month on month. Revived monsoon rains in India—accounting for roughly 40% of world shipments—boosted planting. However, high energy and fertilizer costs amid the Iran war plus the onset of El Niño kept prices above their year-to-date average.