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Asia Pacific Food Price and Policy Monitor, April 2014 - Issue 9

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HIGHLIGHTS

Food price inflation in the region increased to 4.5 percent in March from 4 percent in February but still weaker than general inflation, which slowed to 5.7 percent.

  • FAO estimates China’s 2013 aggregate cereal production was 547.4 million tonnes in 2013, 1.4 percent higher than the 2012 record crop, even with a 1 percent smaller rice harvest.

  • In Indonesia, the price of rice has increased by 11.2 percent year-on-year despite record paddy production of 71 million tonnes in 2013.

  • India will allocate US$ 221 million in aid to farmers in Maharashtra and Madhya Pradesh where heavy rains and hailstorms damaged 3 million hectares of crops.

  • Viet Nam cut its minimum export price for rice by 3 percent to US$ 355 per tonne to increase its competitiveness with falling prices for Thai rice.

  • Several provinces in Pakistan are facing the worst drought since 1998. About 1 million tonnes of wheat may be lost this year along with significant losses to cattle and sheep breeders.