Dear Subscriber,
We are pleased to send you the new issue of the FAO Rice Price Update.
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Brief commentary of the month:
* The FAO All Rice Price Index (2002-04=100) averaged 190 points in January 2017, 3 points (1.6 percent) above its December 2016 value and representing the second consecutive month of advances. Last month's increase was sustained by a 7 percent rise in fragrant quotations, which brought the Aromatica Index to a sixteen-month high of 167 points. Indica quotations also tended to strengthen, while sluggish demand kept Japonica prices subdued.
* Among the major rice origins, the tendency for prices to strengthen was most evident in Pakistan and India. In the wake of smaller fragrant harvests, prospects of renewed sales to Iran buoyed basmati prices in both countries 11-18 percent over values at the close of 2016. The firmness extended into the Indica segment, with tight local availabilities and expectations of sales to Sri Lanka and China sustaining Pakistani long-grain quotations, while a fast pace of government procurement lent support to those of India. In Thailand, a stronger Baht lifted benchmark Thai 100%B white rice 2 percent above its December value, whereas a slow pace of sales limited price movements in Viet Nam. In the Americas, quotations tended to gain ground in Argentina and Uruguay, mirroring seasonally tight availabilities, but weak buying interest weighed on prices in the United States and Brazil.
* From an annual perspective, international rice prices in January stood 3 percent below year-earlier levels. The sharpest declines concerned Japonica quotations (-10 percent), followed by higher quality Indica prices (-4 percent). By contrast, the recent rebound of basmati quotations brought the Aromatica Index 13 percent above year-earlier levels, with firm quotations in Pakistan and India similarly behind a 3 percent advance in the Lower quality Indica Index.
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For more information on prices, you can consult the Food Price Monitoring and Analysis Tool (http://www.fao.org/giews/pricetool/), which gives access to quotations of major traded products, including the high quality Thai white rice 100% B and the 100% broken rice Thai A1 Super, from 2000 onwards. The site also hosts domestic (retail or wholesale) prices for major food commodities in 98 countries.
You might also be interested to visit:
* The FAO Rice Market Monitor (four issues per year): http://www.fao.org/economic/RMM/
* The FAO World Food Situation portal, in particular the monthly update on the World Cereal Supply and Demand Situation and Outlook: http://www.fao.org/worldfoodsituation/en/
* The Monthly News Report on Grains: http://www.fao.org/economic/est/publications/grains-publications/monthly-news-report-on-grains-mnr/en/
* The Oilcrops Monthly Price and Policy Update (ten issues per year): http://www.fao.org/economic/est/publications/oilcrops-publications/oilcrops-monthly-price-and-policy-update/en/
* Meat and Meat Products - Price and trade update (four issues per year): http://www.fao.org/economic/est/est-commodities/meat/meat-and-meat-products-update/en/
* Milk and Milk products - Price and trade update (four issues per year): http://www.fao.org/economic/est/est-commodities/dairy/milk-and-milk-products/en/
Kind regards,
Shirley
Shirley Mustafa
Economist
Trade and Markets Division
Food and Agriculture Organization of the United Nations
Viale delle Terme di Caracalla, Rome, Italy
D-808
Tel. 39-06-570 52202
e-mail: [log in to unmask]<mailto:[log in to unmask]>
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