Rice Prices May Fall On Short Term: Experts

Rice experts have predicted a sharp decline in rice prices in the short term this year, with announcements of plans of the world’s two largest rice exporting countries, Thailand and India, to stock the world’s supplies.

The intervention from both countries will likely affect prices, because an excess rice supply in both countries will force prices down further with demand predicted to remain stagnant in the short term.

The Thai government’s plan to off-load some of its rice stocks may drag the market prices down in the near term, International Rice research Institute (IRRI) Social Sciences Division head Samarendu Mohanty said Monday.