Russia - Not only wheat but also rice prices continue to rise globally after the Ukraine war

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Mumbai: Not only wheat prices but also rice prices are rising globally. Rice prices have been rising for five consecutive months since the Russia-Ukraine war, according to the Food and Agriculture Organization of the United Nations (FAO).

The FAO's latest price index has risen 2.50% since April. Rising demand for domestic rice in Asian rice-exporting countries has raised concerns about supply.

Concerns over rice are growing in the same way that concerns have been raised since India imposed restrictions on wheat exports.

India's rice prices have soared in the export market on strong demand. Prices are rising due to concerns that India will also curb rice exports after wheat.

Rice production in India is based on rainfall. Given the good monsoon forecast for the current year, rice production is expected to be good and India will maintain its leading position in global rice trade.

Broken boiled rice was quoted at ૩૫૭ 5 to વર્તમાન 8 this week, up from ૩૫૫ 5 to ૩૬ 20 per tonne last week.

There is also huge demand for 100% broken rice and 5% broken rice. There is a rumor among traders that India will impose regulation on exports, said an exporter.

After curbing wheat exports, Indian traders have increased their purchases of rice and are placing massive orders for long-term delivery.

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