FAO All Rice Price Index falls to 12-mo low of 133.3 points in Jul
This story was originally published at 18:32 IST on 2 August 2024
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MUMBAI – The global FAO All Rice Price Index in July fell to a 12-month low of 133.3 points, down 2.4% from June, the United Nations Food and Agriculture Organization said in its monthly report. This was mainly driven by the Indica index, which fell nearly 3% on month to 145.4 points in July. On an annual basis, the all rice price index rose 2.8%.
The Japonica and Aromatic indices also fell to 96.8 points and 102.6 points in July from 98.9 and 103.0 points in June, respectively, the report said. However, the Glutinous index rose to 107.0 points in July from 106.3 points in June.
The price of 5% parboiled rice from India fell slightly to $537.3 per tn in July from $539.8 per tn in June, the report said. The price of Pusa basmati rice exported from India was unchanged for the seventh straight month at $1,400.0 per tn, it said. However, on a yearly basis, prices fell 9.7% in July, 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 up at $581.5 per tn in July from $580.3 per tn the previous month, and the price of Thai A1 Super rice was also up at $444.7 per tn from $469.0 per tn.
The price of Thailand's 25% broken rice fell to $555.3 a tn in July from $594.8 per tn last month. The price of a similar variety of rice from Vietnam also fell to $501.5 per tn from $531.5 per tn, according to the report. End
US$1 = 83.75 rupees
Reported by J. Navya Sruthi
Edited by AAditya Sakorkar
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