Dear Subscriber,
We are pleased to send you the new issue of the FAO Rice Price Update:
Brief commentary:
ˇ In September 2014, the FAO All Rice Price Index (2002-2004=100) averaged 238 points, down 1.4 percent from 242 points in August, reversing a 3-month period of steady gains. The fall of the index value reflected marked declines in the Indica rice segment, as prices of both Japonica and Aromatic rice were little changed. The higher quality Indica rice (defined as containing less than 20% brokens) underwent the steepest slide, shedding 3.5 percent from August, while the lower quality Indica fell by 2.7 percent.
ˇ Prices in almost all Asian origins gave signs of weakness in September, in particular in Thailand, but also India, Pakistan and VietNam. The softening reflected strong competition for markets, as the arrival of newly harvested crops mounted the urgency to release storage space. Part of the price decline was also induced by a strengthening the US dollar, the denominator of international prices. Prices also moved lower in the Americas.
ˇ Between January and September 2014, the FAO All Rice Price Index averaged 236 points, the same value as in the 2013 corresponding period. Prices were not that stable across the individual market segments: comparing the two periods, the Lower Quality Indica and of the Higher Quality Indica were quoted 13.0 percent and 5.7 percent less in 2014, respectively, with a more modest retreat of 1.3 percent for Aromatic rice. By contrast, Japonica prices averaged 12.9 percent higher year-on-year, reflecting the tightness of tradable supplies and the continuing restrictions on whole grain rice exports in Egypt.
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 85 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]