FX.co ★ Rice Futures Hover Around 2019-Lows

Rice futures are currently trading at around $10.1 per hundredweight, nearing their lowest levels since February 2019. This decline is largely driven by expectations of ample global supply. The anticipation of record global output, along with abundant harvests from major exporters such as India, Thailand, and Vietnam, which have benefited significantly from strong monsoon seasons, contribute to this trend. Notably, India has achieved several new rice production records this year, with output climbing to 150.184 million tonnes, reflecting an increase of 12.359 million tonnes compared to the previous year, according to the Ministry of Agriculture. The positive outlook is further supported by the Food and Agriculture Organization's (FAO) latest Cereal Supply and Demand Brief, released on October 3, which forecasts global rice production for 2025-26 to reach 556.4 million tons. This figure is an increase of 1.0 million tons from the September forecasts and represents a 1.2% rise compared to last year.