⛏Rough Rice Futures
RICE
▼ NegativeDemandrelevance
Article states rice prices likely to decline this year due to falling consumption and shift to other staples.
Impact on assets 1
Others
After soaring, new rice prices are now being flagged as likely to decline this year. In the comments section of Yahoo! News, the causes of the price surge are attributed to hoarding by Japan Agricultural Cooperatives and distrust of the distribution system, with the buyback of stockpiled rice seen as a price-support measure. Among consumers, rice consumption is falling and a shift to other staples is underway, with some viewing this as negative for farmers. There are also voices suggesting that rice culture may end up in a museum someday, and opinions that even if prices settle down, people will not buy rice themselves.
Article states rice prices likely to decline this year due to falling consumption and shift to other staples.