Rice Price Drops

By Raulin Cadet | Published April 19, 2024 | Updated April 19, 2024 | Topics: Inflation, Price, Rice, Food security

"To eat is a necessity, but to eat intelligently is an art."

— Francois de La Rochefoucauld

Rice is one of the crops very consumed around the world. Its price can be a reference when considering food security. The price trend has been increasing for several months, adversely impacting households with low income levels. This blog post considers the FAO all rice price index to show what may be a new trend.

Definition: The FAO all rice price index is the mean of different thr ee rice price indices calculated by the Food and Agriculture Organization (FAO), using data related to 21 rice export quotations.

As showed by the graphic of the current blog post, the FAO all rice price index drops for two consecutive months: February and March 2024.Although the price of rice is still high compared to the index considered last March 2023, this decrease could be seen as a positive shift when assessing food security. However, it raises questions about the quality of rice available to low-income households, which are particularly vulnerable to food security issues.