FX.co ★ Rice Futures at Over 3-Month High

Rice futures have surged to approximately $11 per hundredweight, reaching their highest point since early October, driven by increasing demand from African countries. According to a mid-January report by the Observatory of International Rice Statistics (OSIRIS), robust demand in sub-Saharan Africa is sustaining high import levels despite ongoing structural challenges in local rice production. Rice imports into the region are projected to reach 22.3 million tonnes in 2025, marking a 13.7% rise from the 19.6 million tonnes imported in 2024. Nevertheless, global rice prices are anticipated to remain pressured this year as leading producers, such as India, Thailand, and Vietnam, maintain surplus stocks. The USDA forecasts a substantial supply for the 2025/26 period, predicting global milled rice shipments to increase by 5.2% to 62.8 million tons, while worldwide production is expected to total 541.16 million tons.