A rice seller pans rice. AKP

International rice prices climbed 21 percent last year amid climate concerns and the fallout from Indian export curbs, the Food and Agriculture Organization of the United Nations says.

“In December, the FAO All Rice Price Index rose 1.6 percent above its November level,” the UN agency said Friday.

“Indica quotations underpinned this increase, rising in response to purchases by some Asian buyers and reduced competition among exporters owing to India’s export restrictions and tight availabilities in Viet Nam.

“According to the rice index, international rice prices registered a 21 percent annual increase in 2023, largely owing to concerns about the impact of El Niño on rice production and in the aftermath of export restrictions imposed by India,” the FAO added.

The export price per kilogram of Rice from Cambodia has seen a steady decline over the last five years. In 2021, the export price was 0.67 US $ per kg, which is a decrease of 0.14 US $ per kg from the price in 2016.

This downward trend is likely to continue in the coming years, with an estimated export price of 0.64 US $ per kg in 2023 and 0.62 US $ per kg in 2024. AKP/https://www.selinawamucii.com/

Published Date: January 7, 2024