Noticias Generales
FAO Rice Price Update November 2017

 

The FAO All Rice Price Index (2002-2004=100) averaged 216.3 points in October 2017, up 2 percent from a revised estimate for September 2017. Indica prices were steady to softer last month, with gains mostly stemming from stronger medium/short grain quotations. The Japonica Index rose by 5 percent in October to a two-year high of 250.2 points, underpinned by expected production cuts in California and a series of tenders in the Far East. Seasonal tightness also lent support to basmati quotations, but most of these gains were offset by a drop in Thai Hom Mali values triggered by a lapse in fresh demand. As a result, the Aromatica Index inched up by 1 percent month-on-month to 216.4 points.

·         Asian quotations of Indica white rice had a soft undertone in October, but prices moved within a narrow band since the bulk of 2017 crops had yet to reach the market in most origins. In India, price drops came mostly in response to currency movements, while declines in Thailand and Pakistan were prompted by limited demand. Amid ebbing interest from African buyers, a supply deal with Bangladesh also proved insufficient to sustain parboiled values in India, providing limited support to those of Thailand. By contrast, prices strengthened in Viet Nam following the completion of the summer-autumn harvest and concerns over crop losses incurred to floods.  Given generally quiet trading activity, Indica prices were steady to mildly softer in most American suppliers, except in Brazil, where they fell by 3 percent to a 17-month low, despite concerns over planting delays of 2018 crops and expectations of price support measures being enacted by the government.

·         According to the Index, international rice prices in the first ten months of 2017 were 4 percent above year-earlier levels, mirroring stronger prices of lower quality Indica supplies and, especially, of aromatic rice.

 

 

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