Global rice prices witnessed a 13-year high increase in the month of May
Rice
Pakistan
Published Jun 6, 2023
Tridge summary
(By Planeta Arroz, with Financial Times) Global rice prices witnessed a colossal increase in the month of May, led by a notable increase in the 'Indica' species, which is consumed mainly by South and Southeast Asia, according to the Organization of Food and Agriculture Organization (FAO). FAO, based in Rome […]
Original content
(By Planeta Arroz, with Financial Times) Global rice prices witnessed a colossal increase in the month of May, led by a notable increase in the 'Indica' species, which is consumed mainly by South and Southeast Asia, according to the Organization of Food and Agriculture Organization (FAO). FAO, based in Rome under the United Nations, released its monthly report on Friday, revealing a 2.9% increase in the rice price index in May 2023 compared to April. The report stated that the FAO Whole Rice Price Index averaged 127.8 points in May 2023, marking its highest level in nominal terms since October 2011. He also highlighted that the increase was mainly driven by the Indica species, which is predominantly consumed by Bangladeshis and other South and Southeast Asians. According to the report, "Indica quotes drove the index's rise in May, rising 3.2% above April values." The aromatic rice index also experienced an increase of more than 3.0 percent, while glutinous rice showed a 1.4 ...
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