Global rice exports may decline

August 5, 2020

By IFCMarkets.com

Global rice exports may decline

The Indian Rice Exporters Association forecasts a decline in rice exports from India by about 100,000 tons per month over the next few months. The main reason for this was the reduction in the number and work time of port workers due to Covid-19. In the East Godavari district of India, where the largest rice marine terminal of Kakinada is located, Covid-19 infects about 1,000 people every day. The Thai Rice Exporters Association lowered its rice export forecast from Thailand in 2020 to 6.5 million tons, the lowest in the last 20 years. From January to June 2020, Thailand exported only 3.14 million tons of rice, which is about a third of what it was last year. Thailand is the world’s leading rice exporter. India ranks second and Vietnam third.

Indicator VALUE Signal
RSI Neutral
MACD Buy
MA(200) Neutral
Fractals Neutral
Parabolic SAR Buy
Bollinger Bands Neutral

 

Summary of technical analysis

Order Buy
Buy stop Above 11.9
Stop loss Below 11

Market Analysis provided by IFCMarkets.com


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