The World Bank projects international rice prices to climb 17 percent from a year earlier to US$510 a tonne in 2023, before settling lower at US$490 a tonne next year.<\/P>
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In its annual Commodity Market Outlook released in Washington Thursday, the bank said rice prices had risen 11 percent in the first quarter of this year on the back of strong demand and tight supplies<\/P>
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Strong demand has reflected \u201cmajor festivals and restocking in Asia\u201d along with currency appreciations against the U.S. dollar in India, Thailand and Vietnam, the bank said.<\/P>
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Tight supplies are meanwhile affecting \u201cmost of Asia\u2019s rice producers \u2014 including China, India, Myanmar, Thailand, and Vietnam,\u201d it said.<\/P>
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The bank said another factor was “devastated harvests and exports of rice” following floods in Pakistan in September last year.<\/P>
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International rice prices \u2013 based on prices for long-grain rice (5 percent broken) in Thailand \u2013 averaged US$437 a tonne last year, down from US$458 a tonne in 2021 and US$497 a tonne in 2020.<\/P>
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Source: Agence Kampuchea Presse (AKP)<\/P>
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The World Bank projects international rice prices to climb 17 percent from a year earlier to US$510 a tonne in 2023, before settling lower at US$490 a tonne next year.In its annual Commodity Market Outlook released in Washington Thursday, the bank sai…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"yoast_head":"\n