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Informist, Friday, Apr. 4, 2025

 

MUMBAI – The global FAO All Rice Price Index for March stood at a three-year low, declining for the seventh straight month, as export quotations declined in all major rice markets, according to data from the United Nations Food and Agriculture Organization. For March, the index reading was 104.1 points, down 1.7% from February and 24.6% lower than the corresponding period last year.

 

Among the four major rice indices, three fell from last month, while the Aromatic index averaged 88.2 points in March, compared to 88.1 points in February.

 

The Indica index was at an average of 108.9 points, down nearly 2% from February. "Export quotations of Indica rice followed mixed trends in the major Asian origins during March," the report said. Rice prices continued their downtrend in India and Thailand due to subdued demand and new supplies, it added. 

 

The average price of 25% broken non-basmati rice exported from India fell to $359.3 per tonne in March from $373.8 per tonne in February, as per the report. Similarly, the average price of 5% broken non-basmati rice fell to $377.5 per tonne from $395.5. The price of 5% parboiled rice from India was down at $406.3 per tonne compared to $409.0 per tonne in February, while the price of pusa basmati was at $875.0 per tonne in March, lower than $893.8 in February. 

 

Meanwhile, Thailand's A1 Super rice variety price fell to $362.3 per tonne in March, the lowest level since September 2021, as the Indian government allowed exports of non-basmati broken rice on Mar. 7. The government had banned exports of non-basmati broken rice in September 2022 to control prices in the domestic market. 

 

The move by the Indian government also affected Pakistan's 5% rice, which was down at $386.5 per tonne in March from $389.0 per tonne in February. The price of Thailand's 25% broken rice fell to $410.3 per tonne in March from $424.0 in February.

 

"Meanwhile, after six months of consecutive falls, quotations steadied or were mildly firmer in Vietnam, as restocking by domestic traders and interest from Filipino and African buyers helped offset downward pressure from winter-spring crop arrivals," the report said. The price of Vietnam 25% broken rice was at $359.5 per tonne in March, against $359.3 per tonne in February.

 

The Japonica rice index fell to 94.3 points in March from 98.1 points in February and the Gultinous rice index averaged 107.2 points, down from 108.9 points in February, the report said.  End

 

US$1 = INR 85.24

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by J. Navya Sruthi

Edited by Avishek Dutta

 

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