Dear Subscriber,
We are pleased to send you the new issue of the FAO Rice Price Update:
Brief commentary of the month:
ˇ In December 2014, the FAO All Rice Price Index (2002-2004=100) averaged 224 points, down by a striking 4 percent from November, and the fourth month of consecutive declines. Prices subsided in all the four market segments, in particular for aromatic rice, which weakened by 11 percent to a level not seen since November 2007. Likewise, prices of the higher and lower qualities Indica softened by 2 percent and 4 percent respectively, while Japonica prices retreated by 2 percent. The general weakness that dominated the market in December was a reflection of an anaemic import demand combined with a strong US dollar, the currency denominator of international prices.
ˇ Export prices dipped most in Viet Nam, India, and Pakistan as new supplies reached the market, while they stay relatively firm in Thailand. Prices were weaker-to-stable in the Americas, reflecting prospects for larger crops.
ˇ Over the full 2014 calendar year, the FAO All Rice Price Index averaged 235 points, slightly above the 233 points recorded in 2013. However, prices were significantly down for the three most important traded rice categories, namely the Higher Quality Indica, the Lower Quality Indica and Aromatic Rice, which respectively shed 6 percent, 11 percent and 5 percent from 2013. Only the prices of Japonica rice strengthened in 2014, by a sizable 16 percent, reflecting the very tight supply situation that characterized that market segment for most of the year.
For more information on prices, you may wish to consult the International Commodity Price Data Base http://www.fao.org/economic/est/statistical-data/est-cpd/en/, which gives access to weekly prices of major traded products, including the high quality Thai white rice 100% B and the 100 % broken rice Thai A1 Super, from 1989 onwards. Monthly international and domestic prices for rice and other selected commodities in 90 countries are available through the Food Price Data and Analysis Tool (http://www.fao.org/giews/pricetool/).
You might also be interested to visit the FAO World Food Situation portal, which provides monthly updates on the World Cereal Supply and Demand Situation and Outlook (http://www.fao.org/worldfoodsituation/en/).
Kind regards,
Concepción
Concepción Calpe
Senior Economist,
Secretary, Intergovernmental Group on Rice
Trade and Markets Division
Food and Agriculture Organization of the United Nations
Viale delle Terme di Caracalla, Rome, Italy
D-803
Tel. 39-06-570 54136
Fax 39-06-570 54495
e-mail: [log in to unmask]<mailto:[log in to unmask]>
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