FAO All Rice Price Index in Jan at 26-mo low of 113.6 pts on sluggish demand
This story was originally published at 18:50 IST on 7 February 2025
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MUMBAI – The global FAO All Rice Price Index in January was at a 26-month low of 113.6 points, according to data by the United Nations Food and Agriculture Organization. According to the report, the FAO All Rice Price Index was down 4.7% from December and 20.4% below its year-ago level.
Among the four major rice indices, the Indica index was at an average of 120.3 points, which is a 25-month low and down 5.4% from December's level. Indica quotations registered the sharpest decline in January, the report said.
"Export prices of Indica rice weakened across Asia and the Americas in January, as trading activities were quiet in the context of Gregorian and Lunar New Year celebrations," the report said. Few buyers, other than Bangladesh, actively sourced supplies during the month, it said. It was a similar condition when it comes to Indian rice exports, as buyers interest tended to subside, despite the rupee depreciating against the US dollar.
The average price of 25% broken non-basmati rice exported from India marginally fell to $411 per tonne in January from $427.30 per tonne in December, it said. Similarly, the average price of 5% broken non-basmati rice fell to $425.4 per tonne from $444.5 per tonne last month. The price of 5% parboiled rice from India was down at $437.4 per tonne from $439.8 a tonne in December. The price of pusa basmati was also down at $1,000 per tonne in January from $1,050 a tonne a month ago.
The aromatic rice index fell 4% on month to 93.1 points in January and the glutinous rice index averaged 107.9 points, down 1.8% from last month, the report said. However, the Japonica index averaged 101.3 points in January, up 3% on month.
The price of Pakistani 5% rice was down at $438.2 per tonne in January from $450.3 per tonne the previous month, while the price of Thai A1 Super rice fell to $395 from $411.7 per tonne last month. The price of Thailand's 25% broken rice fell to $458.7 in January from $500.3 a tonne in December. The price of a similar variety of rice from Vietnam fell to $388.8 from $451.5 per tonne, according to the report. End
US$1 = INR 87.42
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by J. Navya Sruthi
Edited by Akul Nishant Akhoury
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