International Food Policy Research Institute (IFPRI)

(October 18 @9:00am EDT) Seminar, A Look at Global Rice Markets: Export Restrictions, El Nino, and Price Controls

International Food Policy Research Institute (IFPRI) sent this email to their subscribers on October 17, 2023.

EVENT PAGE
REGISTER

To address rising domestic prices for rice, India banned exports of non-basmati rice on July 20, 2023—a move many feared would drive global prices even higher. Since then, these worries have been realized: Thailand’s benchmark price for rice has increased 14 percent, Viet Nam’s rice prices are up 22 percent, and India’s white rice prices are up 12 percent.

To prevent exporters from undermining its ban, India instituted a surcharge of 20 percent on exports of parboiled rice and a minimum sales price for basmati rice in August. India’s actions have had repercussions around the world as domestic consumers struggle with higher prices and rice importers seek alternative suppliers. Some markets have experienced cases of panic buying (the United States and Canada), additional export restrictions (such as export licensing requirements in Myanmar), and price controls (retail price caps in the Philippines).

At an August meeting of ASEAN countries, leaders committed to maintain an unimpeded flow of agricultural products and refrain from using “unjustified” trade barriers. Meanwhile, a strengthening El Niño in the Pacific has threatened to cut the rice production of key Asian suppliers and push prices sharply higher. This webinar will provide a brief update on the global rice situation.

Opening Remarks


Joseph Glauber, Senior Research Fellow, IFPRI and Interim Secretary, Agricultural Market Information System (AMIS)


An Overview of the Global Rice Market


Shirley Mustafa, Economist, Markets and Trade, Social and Economic Development Stream, Food and Agriculture Organization (FAO)


The Impact of Export Restrictions in the Rice Market


Abdullah Mamun, Senior Research Analyst, IFPRI

The Impact of El Niño on Rice Markets


Christina Justice, Senior Faculty Specialist, University of Maryland and Coordinator, GEOGLAM Crop Monitor for Early Warning


The Importance of Rice in Senegal


Fousseini Traoré, Senior Research Fellow, IFPRI


Moderator


Seth Meyer, Chief Economist, USDA and AMIS Chair
Individuals attending this event may be audio taped, videotaped, or photographed during a meeting, and by attending grant permission for their likenesses and the content of their comments, if any, to be broadcast, webcast, published, or otherwise reported or recorded. Questions? Please contact IFPRI-Events.
STAY CONNECTED WITH IFPRI
  Facebook   Twitter   IFPRI   LinkedIn

STAY INFORMED
IFPRI Insights Newsletter sign up: http://www.ifpri.org/newsletter-signup
IFPRI Policy Seminars Mailing List: http://www.ifpri.org/seminars-signup


1201 Eye St., NW, Washington, DC 20005 USA
Tel.: +1.202.862.5600 E-mail: [email protected]
Follow us on Facebook and Twitter

Add us to your address book | | | Forward to a Friend

© 2023 International Food Policy Research Institute (IFPRI). All rights reserved.

Text-only version of this email

EVENT PAGE REGISTER To address rising domestic prices for rice, India banned exports of non-basmati rice on July 20, 2023—a move many feared would drive global prices even higher. Since then, these worries have been realized: Thailand’s benchmark price for rice has increased 14 percent, Viet Nam’s rice prices are up 22 percent, and India’s white rice prices are up 12 percent. To prevent exporters from undermining its ban, India instituted a surcharge of 20 percent on exports of parboiled rice and a minimum sales price for basmati rice in August. India’s actions have had repercussions around the world as domestic consumers struggle with higher prices and rice importers seek alternative suppliers. Some markets have experienced cases of panic buying (the United States and Canada), additional export restrictions (such as export licensing requirements in Myanmar), and price controls (retail price caps in the Philippines). At an August meeting of ASEAN countries, leaders committed to maintain an unimpeded flow of agricultural products and refrain from using “unjustified” trade barriers. Meanwhile, a strengthening El Niño in the Pacific has threatened to cut the rice production of key Asian suppliers and push prices sharply higher. This webinar will provide a brief update on the global rice situation. OPENING REMARKS Joseph Glauber, Senior Research Fellow, IFPRI and Interim Secretary, Agricultural Market Information System (AMIS) AN OVERVIEW OF THE GLOBAL RICE MARKET Shirley Mustafa, Economist, Markets and Trade, Social and Economic Development Stream, Food and Agriculture Organization (FAO) THE IMPACT OF EXPORT RESTRICTIONS IN THE RICE MARKET Abdullah Mamun, Senior Research Analyst, IFPRI THE IMPACT OF EL NIÑO ON RICE MARKETS Christina Justice, Senior Faculty Specialist, University of Maryland and Coordinator, GEOGLAM Crop Monitor for Early Warning THE IMPORTANCE OF RICE IN SENEGAL Fousseini Traoré, Senior Research Fellow, IFPRI MODERATOR Seth Meyer, Chief Economist, USDA and AMIS Chair Individuals attending this event may be audio taped, videotaped, or photographed during a meeting, and by attending grant permission for their likenesses and the content of their comments, if any, to be broadcast, webcast, published, or otherwise reported or recorded. Questions? Please contact IFPRI-Events. STAY CONNECTED WITH IFPRI   Facebook   Twitter   IFPRI   LinkedIn STAY INFORMED IFPRI Insights Newsletter sign up:  IFPRI Policy Seminars Mailing List:  1201 Eye St., NW, Washington, DC 20005 USA Tel.: +1.202.862.5600 E-mail: [email protected] Follow us on Facebook and Twitter Add us to your address book | | | Forward to a Friend © 2023 International Food Policy Research Institute (IFPRI). All rights reserved.
Show all

The Latest Emails Sent By International Food Policy Research Institute (IFPRI)

More Emails, Deals & Coupons From International Food Policy Research Institute (IFPRI)

Email Offers, Discounts & Promos From Our Top Stores