Rice prices plunge to 8-year low after record harvests
Rice prices plunge to 8-year low after record harvests
www.ft.com
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archive: https://archive.is/BSqO8
53 comments
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I guess this is uplifting is you don’t have a rice farm…
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Capitalism makes this both uplifting and awful.
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The article basically says Indonesia and the Philippines aren't importing any rice so the demand is way down, bringing the prices back to what they were at before the prices jumped apparently.
Way down is apparently around the price in 2022/2023
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Isn't it more of a unplanned, free market problem? Related to capitalism (stock market), but not really capitalism.
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Thats not how it works. In most eastern countries rice is heavily controlled and subsidized the same way we control mechanism dairy, corn, wheat etc. So its not pure market capitalism at play.
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Even in countries where the government doesn’t do this, there are companies that buy “Future produce” to help farms mitigate risk. They say what their price for corn will be months before harvest, and even if a bunch of global events affect the crop’s price, the farm gets reliable income. They don’t get the windfalls of high prices, but they’re basically offloading the risk, like insurance.
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Rice: Thrives even though humans are fucking the climate, the soil and the water it needs to grow.
Human: my money :(((
Rejoice motherfucker, we are still not at the point of no return.
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If they want the government paying them for the bad years, then they have to want to not make bank on the good ones.
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Does this imply that each farmer has a larger harvest also?
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Cool, though I'm yet to see this in my own country. Here, the price of rice seems to be on an all-time high.
Eggs, though, are cheaper than ever, literally thrice as cheap as they were (winks to Americans)
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Usually takes a while to trickle down to consumer level prices.
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Good to hear. I don't see Japan mentioned in the article, hopefully this resolves their shortage.
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I thought the issue was japan not importing rice, not necessarily a global shortage
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Thought I read somewhere a long time ago that they imported a bunch of rice from the US as a result of some trade agreement. But they don’t want to eat the rice from the US because it’s lower quality. So it doesn’t get sold for human consumption. Though I guess they use it to make other stuff. Like you could ferment and distill it.
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JA has a tight grip on rice in Japan. Add to that the insistence of JP govt to not import rice in almost all circumstances and you can guess that the rice market in Japan is almost disconnected from the global rice markets
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Incoming rice tariff…
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I checked current prices against my last order, 2 months ago, and I don’t see a price change on the bags of rice.
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According to the chart in the article (which only discusses the price of one specific type of rice) almost all of the price drop occurred over 2024, and it's only dropped a little more throughout 2025 so far. Maybe compare to your rice order a year ago
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Just in time for the subpar corn yields
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The prices are not going to budge down. Any country with a brain will be buying the cheaper rice and adding it to their national food reserves. As global warming will make farming less reliable and you better fucking stockpile because famines are coming everywhere.
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Rice is a perishable. It cannot be stored for too long.
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30+ years is not too long?
https://extension.usu.edu/preserve-the-harvest/research/storing-white-rice
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53 comments
Sooo... Consumer prices on rice products will come down then?
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I understand the economic theory, I am honestly just a jaded ass at this point. It will be great if supply prices come down and restaurants don't pay as much for the rice, but consumer prices will always be downward inflexible, so they will just pocket the extra profit and we are still shafted. Some places may lower prices to attempt to compete more, but not by as much as their margins increase.