Rice, top commodity of Q3, slumps in Q4

Chicago

RICE futures, which posted the best returns among commodities in the third quarter, have slumped to the lowest since August as domestic demand drops and the export pace slows.

Rough-rice futures for January delivery fell as low as US$11.39 per 100 pounds on Wednesday on the Chicago Board of Trade, the lowest for a most-active contract since Aug 4. Futures have tumbled 14 per cent this quarter after touching a 14-month high of US$13.44 in early October.