Dear Subscriber,

 

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) averaged 222.6 points in August 2018, down 2.2 percent (5.1 points) from July and its lowest level since the start of 2018. Japonica and lower quality Indica prices were behind last month’s Index decline, falling 4.8 and 2.2 percent month-on-month, respectively. The decreases came as suppliers vied for fresh business, with japonica sentiment also influenced by the positive outlook for the soon to be launched harvest in California. Instead, the Higher Quality Indica Index held steady, while fragrant prices inched up by 1.0 percent on currency movements and seasonal tightness.

 

·         In Asia, Indica quotations registered the sharpest monthly fall in India, pressured by a Rupee depreciation and lacklustre buying interest. Since fresh demand remained limited, the undertone was also steady to weaker in Pakistan and Viet Nam, even though delays in the summer-autumn harvest induced by rains tended to cap losses in Viet Nam.  Competition with other suppliers also weighed on Thai A1 Super, but a stronger Baht, anticipated G2G sales to China and demand from the Philippines underpinned a partial recovery in most other Thai quotations. In the Americas, prices weakened in the United States, as the onset of the 2018 harvest provided room to narrow the large price differentials with South American origins hitherto sustained by limited availabilities. In Argentina and Uruguay, tight margins offset currency fluctuations and a quiet pace of trade, while Brazilian quotations rose again on expectations of sales remaining upbeat. 

 

·         This latest decline positioned the January-August average of the Index at 227.7 points, which is still 13.1 percent above its level in the corresponding period of 2017.

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For more information on prices, you can consult 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 88 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 update on 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-80
8
Tel. 39-06-570 52202

e-mail:
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