Dear Subscriber,
We are pleased to send you the new issue of the FAO Rice Price Update:
Brief commentary:
ˇ In November 2014, the FAO All Rice Price Index (2002-2004=100) averaged 232 points, 1 percent less than in October. Much of the decline resulted from a 21 percent slump in the aromatic rice prices, caused by a shift of quotations from the old to the new rice crops. Its effect on the overall index was dampened by a surge of the Japonica price index, itself the result of the reintroduction in the computation of the sub-index of the Egyptian medium grain rice price, at a level far exceeding those prevailing before the re-introduction of export restrictions in 2013. On the other hand, the prices of the higher and lower quality Indica weakened by about 2 percent each, reflecting the arrival of new harvests on the market and sluggish import demand.
ˇ Prices continued to slide in most Asian origins, with particularly strong declines witnessed in Viet Nam, generally reflecting a slowdown in demand and the arrival of newly harvested crops on the market. Parboiled rice was particularly under pressure, as large supplies were reported to have accumulated in some of the main destinations in Africa. In the Americas, prices followed mixed trends across origins and market segments.
ˇ From January to November 2014, the FAO All Rice Price Index averaged 236 points, very close to the mean of 234 points in the corresponding period in 2013. Aside from the Japonica prices, which were up by 15 percent, all the other rice segments saw prices subside, especially the lower quality Indica, which recorded a 11 percent decline in the first eleven months of 2014 compared with the same period last year.
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 88 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]