Developing Countries Will Lead Global Rice Import Growth in 2013-22, Says USDA Rice growers positive California MG prices are UP Russia MG Harvest coming to end Egypt open rice exports Vietnam’s rice export in tough competition with India Thai rice exports in May Rise Above Target This Year Viet-Nam Rice exports likely to fall this year
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Thai rice export prices steady
BANGKOK ,Thai rice export prices quoted in US dollars held steady over the past week as the baht currency stabilised, and traders said on Thursday rice prices are likely to stay unchanged in the coming days.
The world's top exporter of rice has now rescheduled a visit to China next month to promote Thai fragrant rice after the Sars outbreak has been brought under control in China.
Thai 25 percent broken grade was offered steady on Thursday at $180 per tonne FOB.
The baht currency, which has gained steadily against the US dollar since mid-April, has put upward pressure on rice export prices but has stabilised in the last two weeks.
The Thai currency was quoted at 41.54 to the dollar at 0800 GMT on Thursday, against 41.60 a week ago.
"The export price has been steady mainly because of the strong baht. We expect a quiet market in the coming days," a trader said.
Traders said that Iran might have recently bought some Thai 100 percent grade B rice.
"Iran is believed to have bought some cargoes of the rice from Capital Rice and Soon Hua Seng exporting firm," said one trader.
"What I have been informed is that the exporters have sold the rice at lower than market prices as they managed to buy from the government's stock at very low prices," he said.
Iran has been seeking over the past few weeks to buy some 90,000 tonnes of 100 percent grade B rice at around $208 per tonne FOB.
The Thai commerce ministry has been selling rice from its stock, bought from farmers under an intervention scheme, to exporters at around $192, about $20 per tonne lower than the market price, traders said.
"The rice stock sale has been negotiated on an individual basis. No public tenders have ever been held," said one trader.
Bangkok was estimated to have around 500,000 tonnes of rice in stock, mostly five percent broken grade, bought from farmers from their 2002/03 (November-October) main rice crop, traders and officials said.
Meanwhile, commerce ministry officials and exporters hope to boost rice sales with their visit to China next month.
"The trip has been resumed as Sars has been contained. We are now due to visit some Chinese provinces between July 18-22. This will be the first trip held this year," said one exporter.
China, also one of Asia's major rice exporters, imports around 200,000 tonnes of Thai fragrant rice each year.
Between January 1 and June 19, Thailand shipped 3.04 million tonnes of rice, down from 3.08 million tonnes in the same period last year.
MGR Archive 28.6.2003
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Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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