Reviewing Indica and Japonica rice market developments

Indica and Japonica are the two major types of rice traded on the global market. Product characteristics, production zones, consumer preferences, and government policies influence Indica and Japonica rice market structures. Using the Rice Economy Climate Change (RECC) model, which covers these rice...

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Bibliographic Details
Published inIDEAS Working Paper Series from RePEc
Main Authors Koizumi, Tatsuji, Stephan Hubertus Gay, Furuhashi, Gen
Format Paper
LanguageEnglish
Published St. Louis OECD Publishing 09.04.2021
Federal Reserve Bank of St. Louis
SeriesOECD Food, Agriculture and Fisheries Papers
Subjects
Agricultural investments
Climate change
Price stability
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Summary:Indica and Japonica are the two major types of rice traded on the global market. Product characteristics, production zones, consumer preferences, and government policies influence Indica and Japonica rice market structures. Using the Rice Economy Climate Change (RECC) model, which covers these rice markets in 24 countries and the global rice market, the international Japonica rice price is found to be more volatile than that for Indica rice under possible climate change scenarios. The simulation results also suggest that agricultural investments in major countries producing Indica and Japonica rice will contribute to their price stability over the medium and long term under climate change.
ISSN:1815-6797
DOI:10.1787/0c500e05-en