The rice market has been quite lackluster in the past few months except for the steady downward slide of Thai rice prices because of uncertainty in the continuation of the pledging scheme. Between February 2013 and March 2014, the Thai price for 25% broken rice declined by 37% from US$584 to $366 per ton. During the same period, the large spread of $150−200 per ton between Thai and competitor prices (India, Vietnam, and Pakistan) more or less disappeared and, in some cases, the Thai price fell below some competitor prices.
El Niño and Politics Grip the Global Rice Market
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El Niño and Politics Grip the Global Rice Market
The rice market has been quite lackluster in the past few months except for the steady downward slide of Thai rice prices because of uncertainty in the continuation of the pledging scheme. Between February 2013 and March 2014, the Thai price for 25% broken rice declined by 37% from US$584 to $366 per ton. During the same period, the large spread of $150−200 per ton between Thai and competitor prices (India, Vietnam, and Pakistan) more or less disappeared and, in some cases, the Thai price fell below some competitor prices.