Worldwide rice prices increased in May as demand grew
MANILA, Philippines– Greater rates of aromatic rice varieties and strong demand, coupled with exchange rate adjustments, rose benchmark international rice prices in May. This is according to the United Nations’ Food and Agriculture Organization (FAO). In a report, the UN agency specified that the FAO All Rice Price Index averaged 106.3 points last.
RICE IS LIFE A rice merchant offers budget-friendly and quality rice at a stall in Marikina Public Market in Marikina City. READ: DA objective: Cut rice prices to 2023 levels of P41-P45 The FAO stated costs of fragrant grains “were accountable for much of the increase” in the rice index. In India, rice sales to Africa propped up white rice prices, while Rabi and Summer harvests pushed down quotations for parboiled rice.
RICE IS LIFE A rice merchant sells cost-effective and quality rice at a stall in Marikina Public Market in Marikina City.– GRIG C. MONTEGRANDE MANILA, Philippines– Greater costs of aromatic rice varieties and strong demand, combined with exchange rate adjustments, pushed up benchmark global rice prices in May. READ: DA objective: Cut rice costs to 2023 levels of P41-P45 The FAO stated costs of aromatic grains “were accountable for much of the increase” in the rice index. In India, rice sales to Africa propped up white rice prices, while Rabi and Summer harvests pushed down quotes for parboiled rice.
