World rice prices fell again

In March, the global rice market saw a mixed performance with an average price decrease of 1.5%, influenced by various factors such as strong competition in Vietnam, reduced foreign sales in Pakistan, and high demand in India and the United States. Despite a 20% export tax, India's parboiled rice price slightly increased due to demand from Africa, while the US experienced a 5% price rise due to strong demand and record sales. Mercosur's export prices fell due to a new harvest and a slower external market. Predictions for early April suggested a continued decrease in world rice prices due to lower global demand and an expected increase in production, with world trade estimated to decrease by 3% in 2024. The OSIRIZ/InfoRice index indicated a downward trend in prices. Meanwhile, agricultural production in 2022 recovered significantly by 37%, reaching levels seen in 2021, despite a decline in Mercosur due to unfavorable weather. This recovery contrasts with the previous year's poor harvest, highlighting the volatile nature of agricultural markets.