{"id":109554,"date":"2017-07-24T10:45:49","date_gmt":"2017-07-24T14:45:49","guid":{"rendered":"http:\/\/countingpips.com\/?p=109554"},"modified":"2017-07-24T07:07:49","modified_gmt":"2017-07-24T11:07:49","slug":"rice-prices-technical-analysis-increase-in-the-world-supply-of-rice","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/07\/rice-prices-technical-analysis-increase-in-the-world-supply-of-rice\/","title":{"rendered":"Rice Prices: Technical Analysis – Increase in the world supply of rice"},"content":{"rendered":"
July 24, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

Increase in the world supply of rice<\/strong><\/p>\n

China is selling rice reserves of the 2013 harvest from its state reserves. Will the rice prices fall?<\/p>\n

On Wednesday, July 19, 2017, the Chinese National Grain Trade Center announced the sale of 124.8 thousand tonnes of rice from the state reserves. This volume is 7.7% of the 1.62 mln tonnes declared at the auction. The rice sale from the Chinese state reserves will continue. In the 2017\/18 agricultural season, India increased the planting acreage of rice to 12.58 mln hectares, which is by 4.6% more than in the previous season. Note that last week the rice prices dropped by about 5% in India and Thailand. This is connected with the reduction in global demand and competition with other producer countries. In particular, Vietnam increased the rice exports by 10.3% to 2.9 mln tonnes in the first half of this year. Egypt expects an increase in rice crops to 6.5 mln tonnes this year, compared with 5.1 mln tonnes of the last year. The main buyers of rice in Southeast Asia are the Philippines, Bangladesh, Sri Lanka.<\/p>\n

\"rice\"<\/p>\n

On the daily timeframe, Rice: D1<\/b> is trying to return to the rising price channel. The continuation of the downward correction is possible in case of an increase in rice supply in the world market.<\/p>\n