According to the September survey results on prices and supply-demand for table rice released on the 8th by the Rice Stable Supply Support Organization, the price outlook index for the coming three months came to 28, up 10 points from the previous month. With the Ministry of Agriculture, Forestry and Fisheries deciding on a policy to buy back government stockpiled rice, and unfavorable weather in September weighing on sentiment, expectations of price declines eased somewhat. The price outlook index stands at 50 when prices are expected to be at roughly the same level as now, and approaches 0 as the view that prices will fall grows stronger. The survey covers rice producers, collectors and shippers, and wholesalers and retailers, among others, and 124 businesses responded for the September survey.
Government buyback of stockpiled rice and unfavorable weather ease expectations of price declines, supporting rough rice futures.
