Dear Subscribers,
We are pleased to send you the new issue of the FAO Rice Price Update.
________
-
The
FAO All Rice Price Index
(2002-2004=100) increased by 15.9 points (7 percent) in April 2020 to reach 248.2 points, it’s highest level since December 2011. Gains were most pronounced for Indica prices
(+8-10 percent) in April, followed by fragrant quotations (+6 percent) and Japonica prices
(+4 percent). This generalized strength lifted the January-April average of the Index 5.2 percent above its level in the corresponding period of 2019.
-
Asian
markets were still reeling from the impact of sudden surges in domestic demand spurred by concerns over the COVID-19 pandemic, when the late March suspension of new export contracts in Viet Nam was followed by news of Cambodia prohibiting Indica and paddy
exports and of Myanmar temporarily halting the issuance of new export licenses. Logistical constraints linked to quarantine measures, particularly in India, compounded on the uncertain export policy environment, driving prices
up across most Asian origins and qualities. Asian quotations began receding only mid-way through April, when Viet Nam instated an export quota, successively expanding it and ultimately deciding to repeal all export restrictions as of 1 May, and when Indian
exports regained momentum as bottlenecks began to clear. Nevertheless, mirroring the strength that dominated in the first half of the month, Asian Indica prices
closed the month between 5 percent (India 25%) and 16 percent (Pakistan 10%) above levels a month earlier. The market undertone was more consistently firm in the Americas. Quotations of US N.2 4% rose to their highest since August 2013 buoyed by low inventories,
drawn down by a short crop and strong exports. US medium-grain prices
also strengthened as suppliers busied with Far Eastern orders and domestic retail demand. Influenced by trends in other origins, quotations also rose in the major South American exporters, although gains in these suppliers were capped by the arrival of freshly
harvested supplies and, in the case of Argentina and Brazil, by further currency depreciations.
________
For more information on prices, you can refer to 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 91 countries.
You may also be interested in:
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-808
Tel. 39-06-570 52202
e-mail: [log in to unmask]
[log in to unmask]" size="0" tabindex="-1" style="max-width:100%; height:auto" data-outlook-trace="F:1|T:1" src="/scripts/wa-fao.exe?A3=2005&L=RICE-MARKET-L&E=base64&P=32323&B=--_005_VI1PR05MB7136FE2EA259F857B024E1A488A40VI1PR05MB7136eurp_&T=image%2Fpng;%20name=%22pastedImagebase640.png%22&N=pastedImagebase640.png">