bullish
Ricegrowers Ltd - Ample rice encourages lower plantings
SUMMARY
- Ricegrowers Limited, trading as SunRice (ASX:SGLLV), has updated rice growers on paddy prices for CY23 and CY24, and more importantly provided planting guidance for CY25.
- Despite additional US supply and continued shipping disruptions, the lower end of the CY23 paddy price range (sold from FY24) has been increased $10/tonne to $425/tonne.
- The CY24 price range is unchanged at $370 to $430/tonne given the above uncertainties.
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