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) gained another 1.4 points (0.7 percent) in July 2017 to reach a two-year high of 210 points. Last month's slight increase was the result of firmer Japonica and fragrant quotations, mirroring seasonally tighter exportable availabilities in these segments. Instead, following three months of successive increases, prices of higher quality Indica rice were weighed down by a slowdown in demand during July, while those of lower quality Indica rice tended to steady.
* In Thailand, benchmark Thai 100%B white rice was quoted at USD 432 per tonne in July, down 8 percent month-on-month and essentially at par with May levels. The reversal occurred notwithstanding support provided by an appreciation of the Baht, reflecting pressure exerted by a lack of fresh buying interest and increased availabilities. Efforts to attract buyers also lowered quotations in Pakistan and Viet Nam, although in the former declines were limited by seasonal tightness and in Viet Nam by expected sales to the Philippines. Market sentiment was mildly firmer in the Americas, as Argentinian and Uruguayan suppliers remained busy fulfilling regional orders, while a stronger Real underpinned values in Brazil. In the United States, prospects of a sharp production cut continued to lend support to long-grain quotations, while expectations of harvest delays in California combined with smaller Japonica carryovers drove medium-grain prices up for the second successive month.
* According to the FAO All Rice Price Index, international rice prices in July 2017 were 5 percent above their level in the corresponding month of 2016. Only higher quality Indica quotation remained weaker year-on-year, reflecting more ample supplies of white and parboiled rice in Thailand and the United States.
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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 92 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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