The FAO All Rice Price Index (2002-04=100) rose by 5.5 points (2.5 percent) in January 2018 to a 38-month high of 225.0 points. Prices increased in all the major rice market segments during January. However, gains were most evident in the higher and lower quality Indica markets, where strong Asian demand lifted prices by 3.9 and 5.0 percent, respectively.

·         The year began on a strong note in the main Asian origins. In Thailand and Viet Nam, quotations of Indica rice jumped by up to 7 percent month-on-month, spurred by Indonesian purchases and, to a lesser extent, sales to Malaysia. Expectations that dwindling state inventories would encourage the Government of the Philippines to opt for rice imports added to the firm sentiment, as did a further appreciation of the Thai Baht relative to the US Dollar. Prices also moved up in India and Pakistan, with additional support in India stemming from ongoing Government procurement and large sales to Bangladesh. In the Americas, tight availabilities caused export quotations to inch up in the United States. By contrast, despite diverging currency movements and generally subdued prospects for soon to be harvested 2018 crops, quiet trading activity kept prices in the main South American suppliers stable or mildly lower, while ample carry-overs also weighed on sentiment in Brazil.

·         According to the FAO All Rice Price Index, January rice quotations were 18.3 percent above their level a year earlier. Although the tendency for prices to strengthen was apparent across all the major origins and qualities, 50-60 percent year-on-year gains in Thai fragrant and US Japonica prices were particularly noteworthy.

 

 

 

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