FX.co ★ Rice Futures at 2019-Lows

Rice futures are currently trading at approximately $10 per hundredweight, approaching their lowest point since February 2019, as anticipated global oversupply weighs heavily on prices. This year, substantial harvests in key Asian exporting nations, notably India and Indonesia, have maintained a robust supply level. According to the FAO’s most recent Cereal Supply and Demand Brief, global rice production for the 2025–26 season is projected to reach an unprecedented 558.8 million tonnes, marking a 1.6% increase from the 2024/25 season. This growth is primarily attributed to increased production in Bangladesh, Brazil, China, India, and Indonesia, which helps counterbalance reductions in Madagascar, Nepal, Pakistan, Thailand, and the United States. In parallel, the USDA's December 2025 WASDE report anticipates world production at 540.4 million tonnes, a slight decrease of 0.5 million tonnes from the previous month. Additionally, global consumption is forecasted to decline by 0.5 million tonnes, settling at 541.9 million tonnes, largely due to reduced consumption in Madagascar.