Rice, Producer Price
FAO publishes this commodity's food-balance elements in two domains with different methodologies (historic 1961-2013 vs current 2010-2023); they disagree materially where they overlap, so both are kept as separate labelled series rather than spliced.
Related_Laws
Laws related to this measure. Correlation = how closely this law tracks this measure's story. Expected causation = how strongly we would expect it to have moved the line. Neither is a claim of proof.
1975CorrelationExpected causationAct Extending the Livestock and Meat Distribution Disruption Penalty Act to Wheat, Flour, Sugar, Rice and Oil
Passed in 1975, this law extends the criminal penalties of the 1974 Act on Punishing Disruption of Livestock and Meat Supply to anyone who obstructs the supply and distribution of wheat, flour, sugar, rice, cooking oil and other government-designated staple foods, or causes their scarcity or price rises.
Why this link: Extends criminal penalties for disrupting the supply and distribution of wheat, flour, sugar and rice (and cooking oil), a direct instrument of the state's food price-control and rationing system during the 1970s inflation surge.
Caveat: Price-control enforcement suppresses recorded prices administratively rather than through market forces, and black-market prices for these staples often diverged from official figures, so the law's effect on the charted series may overstate genuine price stability.
Lag: Immediate, as the law was an enforcement escalation of an existing price-control regime.1989CorrelationExpected causationGuaranteed Purchase of Essential Agricultural Products Act
Passed in 1989, this law requires the government to guarantee and announce a minimum purchase price each farming year for staple agricultural products such as wheat, rice, barley, cotton and oilseeds, later extended to raisins, dates, citrus and livestock products, in order to support farm incomes and stabilize production.
Why this link: Barley and rice are among the other basic crops that have at times fallen under guaranteed-purchase-price coverage, giving this law an indirect but real channel to their price series.
Caveat: Coverage and enforcement of guaranteed prices for these crops has varied by year and is harder to isolate from broader market and weather effects than for wheat.
Lag: Annual.2005CorrelationExpected causationAct Adding Two Notes to the Guaranteed Purchase of Essential Agricultural Products Act of 1989
Passed in 2005, this law amends the 1989 Guaranteed Purchase of Essential Agricultural Products Act by requiring the government to raise the guaranteed purchase price of staple crops each farming year by at least the rate of inflation reported by the Central Bank, applied retroactively to the 2004-2005 crop year.
Why this link: The guaranteed-purchase-price regime this law amends covers all 'basic' agricultural crops, not just wheat, so it shapes producer prices across the guaranteed-purchase basket.
Caveat: Coverage and the specific crops included in the guaranteed-purchase list vary by year and are set by separate annual government decisions, so the link to any single crop's price series is indirect.
Lag: Within the same crop year