International Rice Prices Up 21 Percent in 2023

Phnom Penh, January 06, 2024 --

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.