Dear Subscriber,
We are pleased to send you the new issue of the FAO Rice Price Update:
Brief commentary:
ˇ The FAO All Rice Price Index (2002-2004=100) has been stable around a range of 240-242 points since December 2012. In June 2013, it averaged 241, similar to May. Japonica rice prices were up slightly, while Indica rice prices retreated. Aromatic rice prices were unchanged, despite steadily rising basmati prices, as Thai fragrant rice quotations fell.
ˇ Large export availabilities continue to weigh on the market as do depreciating local currencies of the major exporting countries against the US dollar. In Thailand, the announcement on 18 June of a 20 percent cut in the official procurement price - later revoked – also triggered a reduction of prices, while creating much uncertainty to the market. As a result, the benchmark Thai white rice 100% B subsided 4 percent compared to May, dropping to its lowest level since January 2012. With the exception of Pakistan, where shortages of quality rice tended to lift prices, those quoted in other origins, including South American suppliers and the United States, weakened.
ˇ According to the Index, in the first six months of the year, international rice prices were 2 percent above those prevailing in the corresponding period in 2012.
For more information on prices, you may wish to consult the International Commodity Price Database http://www.fao.org/economic/est/statistical-data/est-cpd/en/, which gives access to weekly prices of major traded products, including the high quality Thai white rice 100% B and the 100 % broken rice Thai A1 Super, from 1989 onwards. Monthly international and domestic prices for rice and other selected commodities in 81 countries are available through the Food Price Data and Analysis Tool (http://www.fao.org/giews/pricetool/).
You might also be interested to visit the FAO World Food Situation portal, which provides monthly updates on the World Cereal Supply and Demand Situation and Outlook (http://www.fao.org/worldfoodsituation/en/).
Kind regards,
Concepción
Concepción Calpe
Senior Economist,
Secretary, Intergovernmental Group on Rice
Trade and Markets Division
Food and Agriculture Organization of the United Nations
Viale delle Terme di Caracalla, Rome, Italy
D-803
Tel. 39-06-570 54136
Fax 39-06-570 54495
e-mail: [log in to unmask]
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