World rice prices more volatile following 2008 price spike

Key reference prices for rice traded in world markets have been more volatile since the 2008 spike in rice and other farm commodity prices. In 2013, rice prices have remained moderate despite recent cyclone activity that has damaged Asian crops, particularly in India. U.S. prices are currently more than $160 per ton above Thai prices, the largest differential on record, the result of smaller U.S. supplies, relatively high quality, and limited competition from Asian exporters in the Western Hemisphere—the largest market for U.S. exports. This chart can be found in the Rice Chart Gallery, with accompanying analysis in Rice Outlook: November 2013.