Bowl of white rice

Thai rice prices have risen month on month, supported by strong demand from Nigeria after most of its rice crops were destroyed by floods. Prices were further driven by increased sales to the Philippines amid lower supplies due to typhoons.

Maize prices have risen year on year due to the hot European summer, which damaged crops and caused supplies to tighten. However, inflation is beginning to slow as the winter harvest reduces the supply pressure.

Commodities: Key Monthly Risers

Favourable weather in October has seen higher auctions sales for high-grown teas and prices have dipped as a result. Tea production in Sri Lanka is down 4% year on year for January to September.

Prices of palm kernel oil have fallen following an increase in the harvest area from Indonesia and Malaysia.

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