FAO indicator drops 3.2% in March and puts rice world on alert

(By AgroDados/Planeta Arroz) The World Rice Price Index of the Food and Agriculture Organization of the United Nations (FAO) averaged 121.2 points in March 2023, which represented a drop of 3.2% compared to February, but still 17.6% above the full-year 2022 level. Export prices declined across all major market segments in March. According to their corresponding indices, Japônica and Aromática prices fell further, plummeting 7.7% and 4.6% from their February levels respectively, amid the progress of Vietnam's harvest and generally calm trading activities. For the Glutinous and Indica price sub-index (high and low quality), the monthly drops were around 3.1% and 2.4%, respectively. The market tone was generally weak in the main Asian origins of Indica rice during the month of March, according to FAO senior analyst Shirley Mustafa. Although quotations received some support at the end of the month with news of an imminent return of Indonesia to the international supply market, ...