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:
* In July 2018, the FAO All Rice Price Index (2002-04=100) registered its first tangible decrease since October 2016, falling 2.4 percent (5.7 points) below June levels to 229.2 points. Prices of lower and higher quality Indica rice drove this decline, with their respective indices shedding around 5 percent of their June value. A retreat in Thai Hom Mali quotations also lowered the Aromatica Index by 1.2 percent month-on-month, while Japonica prices were mostly steady.
* July quotations of Indica rice weakened for the second successive month in most Asian origins, as in the absence of substantial demand, currency movements and competition among exporters weighed on sentiment. In Thailand, benchmark 100% B white rice fell by 8 percent to a nine-month low of USD 420 per tonne. An even steeper (12 percent) monthly declined was witnessed in Viet Nam, where additional pressure stemmed from the onset of the early summer-autumn harvest. In India, sluggish African demand and the retreat of Bangladeshi buyers from the market also softened parboiled values, but white rice quotations found more backing on expectations of potential domestic price increases following the 11-13 percent rise in support prices approved by the Government in July. Although tighter availabilities from production cuts limited declines in the Americas, quotations were also mildly lower in Argentina, the United States and Uruguay, amid slow demand. By contrast, they rose some more in Brazil, as a fast export pace continued to underpin paddy prices, offsetting downward pressure from a weaker Real.
* According to the Index, international prices in the first seven months of 2018 were 14.5 percent above their corresponding levels in 2017.
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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 89 countries.
You may also be interested in:
* The FAO Rice Market Monitor: 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 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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