Rice futures are trading around $11 per hundredweight, with prices swinging sharply amid ongoing geopolitical conflicts, rising energy costs, and higher logistics expenses that are disrupting supply and demand. Despite the volatility, futures remain far below the May 2024 peak of $19 per hundredweight, reflecting comfortable global supplies and subdued demand from key importers, particularly in Africa.
India continues to hold substantial stockpiles, while Thailand and Vietnam are awaiting the arrival of new crops, further reinforcing the global supply outlook. At the same time, official data from the Philippines show that rice inventories rose in March from a year earlier, supported by a rebound in government-held reserves and steady growth in household stocks.
In contrast, the USDA projects a decline in U.S. rice acreage this year, led by a pronounced reduction in plantings in Arkansas, the nation’s largest rice-producing state.
