Dear Subscribers,
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) marked its fifth consecutive monthly rise in May 2020, edging-up by 2.1 points (0.9 percent) to 249.8 points. Japonica quotations led the advance, rising by 1.9 percent month-on-month, on thinning availabilities and consistently strong retail demand in the United States. Monthly gains were in the order of 0.8-1.0 percent for lower quality Indica and Aromatic rice, whereas quotations of higher quality Indica subsided by 0.8 percent.
· Export quotations followed mixed trends in the major Asian origins during May. In Thailand, efforts to narrow price differentials with competing origins offset support provided by a Baht appreciation, causing prices to slide by as much as 8.1 percent month-on-month. Competition with India also weakened offers of 25% broken in Pakistan, although a Rupee recovery tended to underpin most other quotations in the country. This was especial the case of Basmati prices, which rose by another 4.8 percent to USD 1 047 per tonne, with further support stemming from logistical constraints still being faced in India. Despite the latter, demand for Indian rice remained strong, extending gains in Indian quotations into a second straight month. In Viet Nam, ahead of the early summer-autumn harvest and a June G2G tender by the Philippines, sales to Malaysia and African buyers also underpinned values. In the Americas, tight availabilities kept US prices on the rise, despite little fresh business being concluded. This tended to enhance interest in supplies from South American exporters, where harvest progress and continued currency depreciations kept prices largely in check.
· According to the Index, international rice prices in the first five months of 2020 were 6.6 percent above their values in the corresponding period of 2019, mirroring gains in all the major market segments, with the exception of the Aromatic market.
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For more information on prices, you can refer to 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 90 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 updateon 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]
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