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Southern japonica rice prices face downward pressure

Published: 2024-11-21 Author: mysheen
Last Updated: 2024/11/21, The price of japonica rice in southern China faces downward pressure. Starting from March, the number of indica rice reserves at all levels in southern provinces gradually increases, but the price difference between new and old rice continues to remain at a relatively high level. Since April, policy rice and reserve rice at all levels in the main producing areas of japonica rice in southern China have been delivered

The price of southern japonica rice is under downward pressure since March, the number of reserve indica rice entering the market at all levels in southern provinces has gradually increased, but the price difference between new and old has remained at a high level. Since April, the quantity of policy rice and reserve rice at all levels in the main producing areas of southern japonica rice has been significantly enlarged and the market supply has increased, but with the increase of temperature, the market demand for rice tends to be light. Recently, the price of japonica rice in the southern region has stopped rising, and it is expected that the price of japonica rice in the south will face downward pressure in the short term.

The soybean meal market will remain strong in the short term since early April. On the one hand, domestic soybean meal stocks are not loose. Due to the delay in the arrival of soybeans in April, many oil factories in Shandong have shut down due to lack of beans, and the soybean meal supply is relatively small and basically shipped as planned. Some oil plants have queued up to pick up goods. North China soybean meal spot is also relatively tight, May Day short holiday is approaching, downstream feed enterprises are also facing a small replenishment. On the other hand, pig prices began to pick up, breeding profits to improve or enhance the enthusiasm of farmers, even meal out of a wave of rebound market. Based on the support of both domestic and foreign markets, soybean meal will remain strong in the short term and still need to be treated cautiously in the medium term.

 
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