Business · Philippines Bureau
Global rice prices surge nearly 10 percent in September
The United Nations' Food and Agriculture Organization reported a sharp jump in benchmark global rice prices last month, driven primarily by increased costs for Indica rice varieties. The FAO's price index climbed to 110.5 points in September, marking a significant gain for the staple crop.
LSN Philippines ·
Global rice prices experienced a notable spike in September, with the Food and Agriculture Organization of the United Nations reporting a 9.5 percent increase in its benchmark price index for the month.
The FAO All Rice Price Index, known as Farpi, reached an average of 110.5 points in September, reflecting broad-based pressure on rice markets. The increase was primarily attributable to higher prices for Indica rice, one of the world's most widely consumed rice varieties.
The price movement comes as rice remains a critical commodity for millions across Asia and beyond. For Philippines, where rice is a dietary staple, fluctuations in global prices can have ripple effects on domestic market conditions and consumer food costs.
The FAO monitors global rice price movements as a key indicator of food security and market conditions. Rising prices in recent months have highlighted ongoing supply chain pressures and shifts in demand patterns affecting agricultural commodities worldwide.