Global rice prices look unlikely to recover soon as oversupply continues to weigh on the market, dragging prices down from about 600 R9 693 a tonne to around 350-360 R5 654.
South African consumers are already seeing lower rice prices on supermarket shelves, with all major retailers currently offering rice on special as global prices ease.
South Africa imports 100 of its rice requirements typically between 1.2 million and 1.3 million tonnes a year with most of it sourced from Thailand, India, Pakistan and Vietnam, says Andr van der Vyver, executive director of the South African Cereals and Oilseeds Trade Association Sacota.
