Timor-Leste

Market Monitor Report: Timor-Leste | Week 25/26 2021 (21st June-4th July)

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Situation Report
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Highlights

• As the main rice harvest season comes towards the tail-end, the abundance of new supplies on the local market meant local rice price continued to fall at national level.

• The updated paddy production estimates done by the Ministry of Agriculture and Fisheries, which provide early warning signals on national food security, shows that there is a 17 percent increase compared to the previous season at 58,656 metric tonnes. This agricultural output is likely to sustain the downward pressure on prices in the short run.

• Similarly, imported rice extended its downward streak into the third consecutive month in line with the relatively quiet rice trading activities in Asian markets in recent months.