Global rice prices start to increase

MANILA, Philippines — The benchmark for international prices registered a small increase in February despite sustained demand for basmati and japonica varieties, according to the United Nation’s Food and Agriculture Organization (FAO).

The FAO All Rice Index marginally increased by 0.4 percent to 103.2 points in February from 102.8 points a month ago. The global rice benchmark has been on the rise since November last year.

Released monthly, the FAO’s rice index is based on 21 rice export quotations across four grain varieties: indica, aromatic, japonica and glutinous.

International prices of rice varieties were mixed last month. The price index of aromatic and japonica rice varieties inched up, while Indica and glutinous or sticky rice decreased.

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Japonica quotations rose by 3.7 percent to 100.3 points, driven by the sustained demand for calrose (medium grain rice variety) from Far Eastern buyers and seasonally tight availabilities in Vietnam.

Aromatic quotations reached 103.1 points, up 1.8 percent, although the uptick was mostly driven by higher basmati rice prices in Pakistan, driven by deals with Near Eastern buyers and domestic demand.

The glutinous price index dropped by 1.8 percent to 105.9 points, while indica price quotations slightly changed to 103.3 points.

According to the FAO, February quotations for indica rice were mostly steady or weaker, due to muted trading during the Lunar New Year celebrations and market participants’ anticipation of fresh harvests in India, Thailand and Vietnam.

“Where prices tended to move up, increases were mostly associated with currency movements or to tighter supply availabilities, as was most notably the case of parboiled rice in Thailand,” the FAO said.

Start of harvest

Harvesting activities in the Americas for the 2026/2027 cropping season have started across the Mercosur origins or the South American economic bloc.

“Meanwhile, quotations held steady in Argentina and Uruguay, whereas they continued to soften in Brazil and the United States,” it added.

Vietnam continues to be the primary source of imported rice in the Philippines, although this household staple is also sourced from Thailand, Myanmar, South Korea, Cambodia, India, Pakistan and Italy.

The Philippines imported 707,711.46 metric tons (MT) of rice as of Feb. 26, based on the data from the Bureau of Plant Industry.

Vietnam accounted for 87.96 percent or 622,482.85 MT of rice shipments. Thailand followed with a market share of 6.17 percent and Myanmar with 5.04 percent. /cb