W9: Weekly Rice Update
Indonesia
NFA Seeks to Revise Unhusked Rice Prices Before Peak Harvest (Mar 3)
In Jakarta, the National Food Agency (NFA) invited stakeholders to provide inputs on revising the government's purchasing price (HPP) for unhusked rice ahead of the peak harvest season in March.
Vietnam
Rice Prices in Vietnam’s Mekong Delta Region Decrease in Some Varieties (Feb 27)
In Can Tho, Vietnam, the price of Jasmine rice stood at USD 0.32/kg (VND 7,600/kg), OM 4218 priced at USD 0.28/kg (VND 6,600/kg), IR 50404 at USD 0.26/kg (VND 6,200)/kg. While in the Soc Trang market, the price of Dai Thong 8 stood at USD 0.34/kg (VND 8,100/kg), a decrease of USD 0.0042 (VND 100/kg).
Winter-Spring Rice Crop in BA Ria-Vung Tau Hit the Season, High Selling Price (Mar 3)
In Vietnam, farmers in rice-growing areas in Ba Ria-Vung Tau province started harvesting winter-spring rice for the 2022/23 season. Compared to the same period in 2022, the output and price of this year's winter-spring rice crop have increased.
Thailand
Weakening Baht Helps Bolster Thailand’s Rice Exports (Feb 27)
The Department of Foreign Trade (DFT) reported Thailand's rice exports increased by 75.20% in January YoY due to the weak baht (THB) against the USD dollar. Around 805.51K tonnes of rice worth USD 407.4M (THB 14.27B) were exported in January, compared to 456.7K tonnes with a value of USD 227M (THB 7.95B) during the same period in 2022.
Brazil
Brazilian Rice Prices Remained Weak in February, Harvest Presses (Mar 3)
The Brazilian rice market ended February with weaker prices. In Rio Grande Do Sul, the average price for a 50-kilogram bag was quoted at USD 16.28 (BRL 84.09), a 0.96% WoW decrease. Compared to the same period in January, there was a decrease of 9.8% and an increase of 13.46% compared to the same period in 2022.
Tanzania
Tanzania earned USD 287.2M in 2022 from the export of cereals, mainly rice, and maize, down 29% YoY from USD 402.8M in 2021. Even though cereal exports are down YoY, they are fetching higher foreign currency inflow compared to traditional cash crops. The value of the top 3 traditional cash crops in 2022 was USD 226.9M for cashew, USD 178.5M for tobacco, and USD 161.2M for coffee.
Uganda
The Igongero-Naigombwa Irrigation Scheme Set to Increase Rice Production in Uganda (Mar 4)
Uganda's Ministry of Agriculture, Animal Industry and Fisheries, and Ministry of Water and Environment have completed and launched one of the biggest rice irrigation schemes in the country. The Igongero-Naigombwa irrigation scheme in Eastern Uganda is expected to increase rice production in the area from the current 1.5MT/ha to 5MT/ha. Uganda still relies heavily on rice imports to fill the deficit between domestic supply and demand. Therefore, this project is aimed at reducing this gap and improving the livelihood of small-scale farmers in the region.