Page 34 - Food Outlook

PRICES
Generally firm, although patterns vary across market segments
International rice prices have made moderate increases
in the past five months, as depicted by the FAO All Rice Price Index (2002–2004=100), rising from a June value
of 209 points to 216 points in October. Despite this general firmness, quotations have not followed consistent patterns across the various rice market segments. After
a prolonged period of weakness, Japonica prices have
Figure 1. Export prices for higher-quality Indica rice in selected countries
regained momentum, as prospects of a smaller US harvest have amplified the support lent by seasonal tightness and the resumption of trading activities in the Far East. In the fragrant market, the strength manifested by Basmati prices earlier in the year spread to Thai Hom Mali rice values, causing aromatic prices to reach multi-year highs.
However, in the Indica market, price firmness during the first half of the year was followed by considerably weaker patterns. This was especially the case in Asia, where prices fell amid signs that ample exportable availabilities existed to meet reviving demand from African buyers and the
Figure 2. Export prices for Aromatic and Japonica rice in selected countries
28
FOOD OUTLOOK NOVEMBER 2017
USD per tonne
USD per tonne
520
460
400
340
1400 1250 1100
950
800
650
280
Feb 16
Jun 16
Oct 16
Feb 17
Jun 17
Oct 17
500
Oct 15
Oct 15
Feb 16
Jun 16
Oct 16
Feb 17
Jun 17
Oct 17
US 2/4% L.G.
Viet Nam 5%
Thailand 100% B Pakistan 5%
Pakistan Basmati
Thai Fragrant 100% B
US 1/4% M.G.
RICE
Major Rice Exporters and Importers
Market assessments
India IR 5%
India Pusa Basmati
Major Exporters Major Importers