Global rice market stable but weather risk remains, Louis Dreyfus exec says

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Rice Supply News

Rice Prices,Rice Production,Rice Importation

Rice prices in key Asian export hubs have eased in recent weeks after climbing last year to their highest since 2008 following an export ban by India, the world's biggest shipper.

SINGAPORE — Global rice supplies have stabilized after last year's rally, although the market remains vulnerable to risks from dry weather caused by the El Niño, a senior executive at commodity merchant Louis Dreyfus Co said.Rice prices in key Asian export hubs have eased in recent weeks after climbing last year to their highest since 2008 following an export ban by India, the world's biggest shipper."It does seem like we went through a very tight situation.

In May, June, we should know a bit more about what is going to happen with the irrigated crops," he said.LDC, among the biggest rice merchants, supplies buyers in Asia, Africa and the Middle East.Weather riskThe unpredictability of weather patterns fueled by climate change is leading to further supply disruption."I think the biggest thing about El Niño, and it's not talked enough about, is the unpredictability of the weather events," he said.

 

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