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Domestic Rice Prices in Asia Show Mixed Trends in May 2014, Says FAO

Domestic rice prices in Asia have shown mixed trends in April 2014, according to the UN’s Food and Agriculture Organization (FAO). While domestic prices in Cambodia, Indonesia and Bangladesh declined sharply, prices increased in China, India, Vietnam and the Philippines. Prices in Myanmar were relatively stable, says the FAO.

Wholesale rice prices in Cambodia continued to decline in May 2014 for the second consecutive month due to increased supplies from 2013-14 harvests and reduced export activities. Rice prices in Indonesia also declined for the second consecutive month due to the ongoing 2014 main season crop harvest. Rice prices in Bangladesh declined slightly in May with the beginning of the 2014 Boro harvest. Prices in Thailand continued to decline for the third consecutive month due to continued sales of government stocks and abundant new supplies from the ongoing 2013-14 secondary season harvest. Prices in Sri Lanka declined in May due to the ongoing Maha harvest.

Retail prices of Japonica rice in China increased slightly due to a general food inflation in the country despite adequate supplies from imports in the past months and favorable prospects for the 2014 harvests. Prices in India increased slightly following recent increases in fuel costs. Vietnam prices increased in May, after moderate declines in the last four months during the 2013/14 winter-spring harvest, due to renewed export demand, particularly from China and the Philippines. Retail prices in the Philippines continued their uptrend due to reduced imports in earlier months. High fuel prices and delayed shipments from Vietnam are also contributing to the price rise. ‘

Prices in Myanmar remained relatively stable due to ample supplies from the ongoing 2013-14 secondary season harvest.

Rice export prices in Vietnam, India, Pakistan and Uruguay increased in May 2014, according to the FAO. However, Thai rice export prices continued to fall due to increased rice sales by the Thailand government.

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