FAO All Rice Price Index up 0.6% to 134.0 points in August
This story was originally published at 20:09 IST on 6 September 2024
Register to read our real-time news.Informist, Friday, Sep 6, 2024
MUMBAI – The global FAO All Rice Price Index in August rose to an average of 134.0 points, up 0.6% from July, the United Nations Food and Agriculture Organization said in its monthly report. This increase was mainly driven by an increase in Aromatic and Japonica quotations, which recovered by 3.1% and 1.5%, respectively. However, the August value of the Indica Index was close to its July levels, according to the report.
The Japonica and Aromatic indices also rose to 98.3 points and 105.8 points in August from 96.8 and 102.6 points in July, respectively, the report said. The glutinous index also rose to 108.1 points in August from 107.0 points in July.
The price of 5% parboiled rice from India fell to $525.8 per tn in August from $537.3 per tn in July, the report said. The price of Pusa basmati rice exported from India was unchanged for the eighth straight month at $1,400.0 per tn, it said. However, on a yearly basis, prices fell 9.7% in August, the report said. Prices of 5% and 25% broken non-basmati rice exported from India were unavailable as the country has prohibited exports of white rice to cool domestic prices.
In September 2022, the government banned exports of broken non-basmati rice, and in July, it banned exports of non-basmati white rice to control domestic prices. Currently, there is a minimum export price set for basmati rice at $950 a tn and a 20% export duty on parboiled rice.
The price of Pakistani 5% rice was down to $545.2 per tn in August from $581.5 per tn in July, and the price of Thai A1 Super rice was up at $458.8 per tn from $444.7 per tn.
The price of Thailand's 25% broken rice rose to $560.0 a tn in August from $555.3 per tn last month. The price of the same variety of rice from Vietnam also rose to $516.8 per tn from $501.5 per tn, according to the report. The price increases registered in the non-Indica segments in August were concentrated in Thailand and Vietnam. In both origins, they reflected a tightening of supplies, although in Thailand gains were further accentuated by currency movements and, in Vietnam's fragrant market, by strong demand from Filipino and African buyers.
In the Americas, quotations of US #2,4% edged down some more to $771 per tn from $778 per tn the previous month, while the 2024-25 harvest progressed ahead of normal and attention shifted towards milling yields being attained. However, a resumption in sales to Iraq kept the fall limited. Prices were also slightly down in Argentina and Uruguay, largely influenced by weaker local currencies, while values edged up somewhat in Brazil, as a slow pace of domestic sales underpinned paddy prices, according to the report. End
US$1 = 83.94 rupees
Reported by Taniva Singha Roy
Edited by Aditya Sakorkar
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2024. All rights reserved.
To read more please subscribe
Share this Story:
