Italian Indica rice prices remain near record levels ahead of harvest

Italian Indica rice prices are approaching record highs due to limited supply and adverse weather conditions that may delay the harvest until late September. No new prices or supplies are available, and both farmers and mills are withholding offerings. As of July 5, Platts reported the price of Indica 5% WR and Arborio 5% WR at Eur 1,050.00 a metric ton and Eur 1,400/tm, respectively. The recent weather could result in yields below average. Importing rice from outside Europe is not being considered due to high shipping costs.

(By Planeta Arroz) Italian Indica rice prices were near record highs, supported by limited supplies and recent bad weather, which may have delayed the harvest until late September, sources said on July 8. No indicative price or supply for Indica rice was being reported, sources said. Farmers were not offering to the mills and the mills were not offering to the market, said a trader. Platts valued Indica 5% WR and Arborio 5% WR at Eur 1,050.00 a metric ton and Eur 1,400/tm, respectively, ex-works as of July 5, according to data from S&P Global Commodity Insights. Northern Italy reached Eur1,000/t for the first time in early June. Recent bad weather, which could delay harvest by up to three weeks, could cause yields to fall below average, sources said. “Officially, there is still some Indica in the hands of farmers. Some industries probably have something in house,” said an Italian source, adding that although the last market price for Indica rice was Eur600/t, farmers were ...