FX.co ★ Rice Futures Up, Still Near 2016-Lows

Rice futures have edged slightly above $10 per hundredweight, yet they remain near their lowest point since December 2016. This is largely due to the prospect of plentiful global supply, driven by robust harvests from key Asian exporters, notably India and Indonesia. Earlier this year, Union Agriculture Minister Shivraj Singh Chouhan announced that India has overtaken China as the world's largest rice producer, with a remarkable output of 150.18 million tonnes. Meanwhile, Indonesian President Prabowo Subianto has declared that Indonesia will achieve rice self-sufficiency by 2025, with stock levels surpassing a record 3 million tonnes. In the United States, the Department of Agriculture has recently revealed plans to distribute $12 billion in 2026 through the Farmer Bridge Assistance Program (FBA), offering significant per-acre payments to rice farmers. This initiative is expected to stimulate rice production by supporting crop investment and encouraging expansion in planting areas.