Africa: Benin rice market softens after midweek peak
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- Double polished grade prices correct after spike
- Parboiled segment stabilises with gradual easing toward weekend
Benin's double polished rice market opened firm on 23 March at $572.68/tonne (t) and surged sharply to $588.13/t on 24 March, reflecting short-term tightness in high-grade supply and active buying. The rally, however, proved unsustainable. Prices corrected steadily over the following sessions, easing to $577.74 on 25 March and further to $574.69 by 27-28 March. The trajectory suggests that the initial spike was driven more by temporary demand pressure than structural supply constraints, with the market quickly finding equilibrium as arrivals improved.
White rice tracks similar downward path
White rice (WR) mirrored the movement in double polished grades, though at lower absolute levels. After rising from $538.71/t on 23 March to $553.23 on 24 March, the segment experienced consistent softening. Prices declined to $543.46/t 25 March and continued easing to $540.60 by the weekend. The parallel movement indicates a broader market correction, likely influenced by currency fluctuations and easing export offers rather than grade-specific factors.
Parboiled rice stabilises in narrow band
The parboiled (PB) segment entered the market from 25 March at $565.37 and showed limited volatility compared to other categories. Prices edged down marginally to $564.37 on 26 March and settled at $562.39 through 27-28 March. The narrower range highlights relatively balanced supply-demand dynamics in the parboiled segment.
Overall, the Benin rice market exhibited a midweek peak followed by a controlled correction across all major categories, signalling improved supply flow and reduced buying urgency toward the close of the week.
