Himfr.com Analyzes Domestic Rice Market Situation

BEIJING, Oct. 15 /PRNewswire-Asia/ -- Himfr.com, one of China's leading B2B search platforms with more than 30 B2B industry websites to its name, analyzes China's domestic rice market situation.

Since late September, by the autumn rice harvest in succession with the impact of market, the domestic price of rice as a whole showed a steady weakening trend. The main reasons, himfr analyzes, are firstly, that some areas of rice processing enterprises have moved into an equipment maintenance period, so the sale for stock is more positive; second, the late indica rice came into southern markets, so prices leaned towards dropping; third, in the south area early indica rice acquisition work came to an end; fourth, the holiday effect is weakening, so the domestic market growth in demand for rice is very limited. Therefore, the supply of raw grain rice is increasing, and rice prices are on a steady weakening trend, specifically as follows:

First, supply and demand factors: At present, the domestic market volume of the late indica rice has gradually enlarged. Domestic rice, especially with indica rice stock levels high, the market will face a longer supply of seasonal pressure.

Second, production: at present, most areas' indica rice and japonica rice have started harvesting into market, but due to the rice growth period there can be big differences in temperature, resulting in rice quality reducing. Meanwhile, Jiangsu and Anhui japonica rice growth is relatively normal, after the National Day it will be a large player in the market; and the late indica rice, despite some south areas being hit by drought, will show limited effects on the overall yield.

Himfr analyzes that as the state gradually implements new policies, the local rice prices are expected to stabilize and rebound; as cooler weather comes, the market demand for rice has gone up; but subject to an adequate supply of raw grain, rice will face a situation of supply exceeding demand, and it is expected that prices in the short term will find it difficult to escape the gloom.

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SOURCE Himfr.com