Stock Depletion Causes Hikes in International Commodity Market

In the International Commodity Market, maize, soybean and paddy rice increased by 8.53%, 6.44% and 2.62% M-o-M respectively. The sharp increase of prices in the international market is driven by the reduced production prospects, tighter inventories and strong import demand. By contrast, international prices of rice fell further with the start of the main crop harvests and lacklustre demand.

The Open Market prices for maize and paddy rice dropped by 32.98% and 15.94% M-o-M respectively in response to the termination of the lean season of the crop calendar in the agrarian North which indicates the beginning of harvests from the current planting season which will span Q4, 2020.

Exchange Executed price for maize and soybean dropped by 5.43% and 1.15% M-o-M respectively due to the availability of new harvest of the commodities on the exchange