Spot and Futures Price of Paddy and Rice
By CnAgri2012-12-11 10:55:35
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Spot market: paddy price was higher than minimum purchasing price and it was still adjusted reasonably. Keng rice price in Anhui was RMB2780/MT, lower than the minimum purchasing price of RMB2800/MT. Prices of both mid-late season rice and early season indica rice were above RMB2500/MT, having dropping space. Prices of indica rice and keng rice decreased, so did Thailand rice. Futures market: China minimum purchasing price drove international price to continue rising. But early season indica rice price was higher than the minimum purchasing price and spot price fell remarkably. Minimum purchasing price provided support to futures price.
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