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Informist, Friday, Jan. 3, 2025

 

MUMBAI – The price of Pusa basmati rice exported from India in December was unchanged for the last three months at $1,050.0 per tonne, the United Nations Food and Agriculture Organization said in its monthly report. However, the fragrant rice prices declined nearly 27% on year in December. The aromatic rice index fell 9.5% on year to 97 in December because a bumper crop in India drove basmati quotations down by 16-22%, it said.

 

The average price of 25% broken non-basmati rice exported from India marginally fell to $427.30 per tonne in December from $436.20 per tonne in November, it said. Similarly, the average price of 5% broken non-basmati rice fell by $7.7 per tonne to $444.5 per tonne. The price of 5% parboiled rice from India fell 1.3% to $439.8 per tonne in December from $445.8 a tonne in November. On an annual basis, the price rose 12.2%.

 

The global FAO All Rice Price Index in December was 119.2 points, down 1.2% from November and 15.5% lower on year, the report said. Prices of Indica and Aromatica rice led a decline in December, while Japonica prices were little changed and glutinous prices rose 1% last month.

 

During December, export prices of Indica rice subsided in most of the major origins as fresh sales slowed down and competition for markets remained fierce. "In India and Argentina, Bolivia, Brazil, Paraguay and Uruguay (MERCOSUR) origins, currency depreciations against the US dollar also influenced prices downward, adding to the weak undertone set by large kharif supplies in the former and by positive 2025/26 crop prospects in the latter," the report said.

 

The price of Pakistani 5% rice was down to $450.3 in December from $454.2 per tonne the previous month, while the price of Thai A1 Super rice fell to $411.7 from $413.3 per tonne. The price of Thailand's 25% broken rice rose to $500.3 in December from $487.8 a tonne in November as traders executed previously sealed deals. The price of a similar variety of rice from Vietnam fell to $451.5 from $474.0 per tonne, according to the report. End

 

Reported by Sandeep Sinha

Edited by Akul Nishant Akhoury

 

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