Rice prices have risen more than 47% since the Iran conflict began, Hedgeye
analysis shows. Disruptions to fuel, fertilizer and shipping are the primary
drivers; analysts say global rice supply remains broadly ample but higher costs
are concentrated in freight, fertilizer and premium varieties such as basmati.
The rice rally is spilling into broader commodity markets and, amid rising
geopolitical tensions, could put upside pressure on crude oil prices.
