Rice futures fell below $14 per hundredweight, hitting their lowest level since late December 2024, as traders balanced rising supply against weak demand. The USDA’s January WASDE report raised U.S. rice production estimates to 222.1 million cwt, up by 2.3 million, with Texas and Missouri seeing the largest increases. Meanwhile, India’s rice stocks hit a record 60.9 million tonnes in January, far exceeding the government’s 7.6 million-tonne target, potentially boosting exports. The global 2024/25 outlook tightened slightly, with lower supply and consumption, while global rice consumption was trimmed to 530.2 million tonnes. Since late September 2024, rice prices have declined steadily after India and Pakistan lifted export restrictions and price caps.

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