Dear Subscriber,
We are pleased to send you the new issue of the FAO Rice Price Update. Please note that  the methodology used to calculate the FAO Food Price Index, of which the FAO Rice Price Index is one component, has been revisited slightly, as reported in the special feature of the November 2013 issue of the FOOD OUTLOOK publication (http://www.fao.org/docrep/019/i3473e/i3473e.pdf). As a result, the values of the FAO Rice Index, which remains based on 2002-2004, have changed somewhat compared to those previously published, without, however, altering their trajectory.

Brief commentary:


ˇ         Following the sharp fall experienced in September, international rice prices tended to stabilize in October,  with the (revised) index averaging 227 points, virtually the same as in September. Prices in all market segments were little changed.

ˇ         Prices steadied in the major origins, including in Thailand. There, the benchmark Thai white rice 100%B shed less than 1 percent in October after sliding by 7 and 9 percent in August and September, while Thai fragrant rice quotations recovered after five months of dips. Prices in Viet Nam strengthened on the trail of a large sale to the Philippines. High domestic prices also drove export quotations up in India. By contrast, a weakening exchange rate caused prices to move down in Pakistan. Markets also tended to weaken somewhat in South America and in the United States.

ˇ         Based on the FAO Index, between January and October, rice export prices averaged 2 percent higher in 2013 than in 2012. However, the increase was only because of aromatic rice, which was quoted 23 percent more, year-on-year, while prices of the lower quality Indica  were down 2 percent, the higher quality Indica down 5 percent and Japonica down 1 percent.
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 83 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]<mailto:[log in to unmask]>


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