Rice is an essential commodity around the globe. Not only is it used in food, but it’s also used in fuels, fertilizers, and packing material.
We know that temperature, precipitation, and changing needs of customers contribute to the supply and demand for commodities like rice. We have the news, agriculture report summaries and price charts you need to be a successful futures trader.
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Supply:
Total global production of Rice is estimated at 505.04 MMT. China is the largest producer of Rice with an estimated production of 147 MMT, followed by India at 124 MMT, Bangladesh at 35.65 MMT, Indonesia at 34.6 MMT, and Vietnam at 27.4 MMT.
70 % of the Chinese production of Rice is located South of Beijing and East of Chengdu and is planted in late March, April, and early May. Harvest begins in Late July and runs through August/September. Nearly all of India’s Rice production is located in the Eastern half of the country.
Demand:
Total global production is projected to be at 518.08 MMT. The largest consumer of Rice is China with an estimated consumption of 155 MMT. The second largest is India at 109.2 MMT, followed by Bangladesh at 36.8 MMT, Indonesia at 35 MMT, and Vietnam at 21.5 MMT.
Ending Stocks:
Global ending stocks are projected to be at 171.2 MMT. The largest holder of the ending stocks is China with 107.8 MMT. The second largest is India with 30.7 MMT, followed by the Philippines at 4.6 MMT.
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Exchange: Chicago Board of Trade
Exchange Symbol: ZR
Tick Size: ½ cent per cwt ($10.00 per contract)
Contract Size: 2,000 cwt
Months: Jan, Mar, May, Jul, Sep, Nov (F,H,K,N,U,X)
Trading Hours: 7:00 pm – 9:00 pm and 8:30 am- 1:20 pm (Settles at 1:15 pm) Sun – Fri CST
Margin/Maintenance: $1375/1250
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