FAO Says Domestic Rice Prices Show ‘Mixed Trends’ in Asia

The Food and Agriculture Organisation of the United Nations (FAO) says domestic prices for rice in Asia were mixed last month.

“Overall, rice prices remain 15 percent above their year-earlier levels,” said the FAO’s latest Food Price Monitoring and Analysis Bulletin dated Wednesday.

But “prices of rice showed mix trends,” it said.

“In Cambodia, rice prices declined with the commercialisation of the newly harvested 2023 crops, estimated at an above-average level.”

Prices in Sri Lanka also fell, “mostly reflecting increased market availabilities from 2022/23 harvests and improvements in macroeconomic conditions.”

The steepest gains from March were in Vietnam and Thailand, “mostly attributed to increased export demand from traditional buyers.”

In Myanmar – where a “high” price warning is in force – prices of a widely consumed variety hit record highs, supported by poor harvests in 2021 and 2022, high input and transport costs, and sustained export demand.

In India, prices were stable or rose amid government purchases, robust demand and lower forecasts for 2022/23 due to a decline in planted area.

But prices were only marginally above year-earlier levels in China and Bangladesh, “reflecting adequate market availability.”

Source: Agence Kampuchea Presse (AKP)