Global rice prices fall to their lowest since 2020

Rice prices on the international market have reached lows not seen since November 2020, amid strengthening expectations for global supply growth, according to Trading Economics.

The US Department of Agriculture, in this month's Market Outlook, forecasts that global rice production will reach a record 538.7 million tonnes in the 2025-2026 agricultural year, driven primarily by the expectation of good harvests in India, Bangladesh and China.

Global rice consumption is also forecast to reach a record 538.8 million tonnes, driven by growing demand in India, Bangladesh, the Philippines and Nigeria. Meanwhile, demand for rice in China will show little change as more competitive feed grain prices limit the use of rice for animal feed.

Since the beginning of the year, the price of rice futures on the Chicago Mercantile Exchange has fallen by 14.3 percent.