Dear Subscriber,
We are pleased to send you the new issue of the FAO Rice Price Update.
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* The FAO All Rice Price Index (2002-2004=100) averaged 216.3 points in October 2017, up 2 percent from a revised estimate for September 2017. Indica prices were steady to softer last month, with gains mostly stemming from stronger medium/short grain quotations. The Japonica Index rose by 5 percent in October to a two-year high of 250.2 points, underpinned by expected production cuts in California and a series of tenders in the Far East. Seasonal tightness also lent support to basmati quotations, but most of these gains were offset by a drop in Thai Hom Mali values triggered by a lapse in fresh demand. As a result, the Aromatica Index inched up by 1 percent month-on-month to 216.4 points.
* Asian quotations of Indica white rice had a soft undertone in October, but prices moved within a narrow band since the bulk of 2017 crops had yet to reach the market in most origins. In India, price drops came mostly in response to currency movements, while declines in Thailand and Pakistan were prompted by limited demand. Amid ebbing interest from African buyers, a supply deal with Bangladesh also proved insufficient to sustain parboiled values in India, providing limited support to those of Thailand. By contrast, prices strengthened in Viet Nam following the completion of the summer-autumn harvest and concerns over crop losses incurred to floods. Given generally quiet trading activity, Indica prices were steady to mildly softer in most American suppliers, except in Brazil, where they fell by 3 percent to a 17-month low, despite concerns over planting delays of 2018 crops and expectations of price support measures being enacted by the government.
* According to the Index, international rice prices in the first ten months of 2017 were 4 percent above year-earlier levels, mirroring stronger prices of lower quality Indica supplies and, especially, of aromatic rice.
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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 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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