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International prices of rice generally stable

International rice prices

The FAO All Rice Price Index (2002-04=100) averaged 222 points in June, holding steady for the fourth successive month. Although demand remained generally subdued in June across Asia, quotations of Indica rice followed mixed trends in the major origin countries. Prices increased in Thailand in tandem with a further appreciation of the country’s currency, while they steady in India on the backdrop of a strong pace of public domestic procurement and a slow start of the monsoon rains. By contrast, quotations eased in Pakistan, amid efforts to attract buyers, and slid in Viet Nam, as freshly harvested “summer-autumn” rice reached the market. Export prices were steady to lower in Brazil, influenced by low local demand, in Uruguay, on a slow pace of exports and in the United States of America amidst large inventories.

Source: EST FAO Rice Price Update