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 prices steady, buying scheme may be extended
BANGKOK ,Thai rice prices held steady on Thursday amid sluggish trade, but are likely to dip in coming days with very few overseas buyers in sight, traders said.
Thai 25-percent broken grade was offered on Thursday at $177-178/tonne FOB.
Vietnam's 25-percent broken grade was offered at around $160.
"Trade has been thin, as Thai rice prices are relatively higher than the prices of rice from other countries," said one trader.
"Overseas buyers would be interested in the Thai rice only if the price falls by five to 10 dollars per tonne," he said.
Thailand is the world's top rice exporter.
Between January 1 and July 7, Thailand exported a total of 3.4 million tonnes of rice, against 3.48 million tonnes shipped in the same period last year, figures from the commerce ministry showed.
Private exporters have forecast Thai rice exports at 6.4 million tonnes in 2003, down from 7.2 million tonnes in 2002 due to unattractive prices and fierce competition from other exporting countries.
Thailand exported record 7.5 million tonnes in 2001.
Farmers in some rice growing areas have asked the government to extend a state intervention scheme, officials at the commerce ministry said.
"Farmer groups from a few provinces including Ayutthaya have sent us letters, asking for the scheme to be extended for at least one month," said one official.
"They said a lot of rice has yet to be harvested due to heavy rain.
They aim to sell the rice to the government under the scheme," he said.
Officials said the government had yet to decide on the matter.
Bangkok began buying rice from the country's smaller 2002/03 second crop on March 20.
Under the scheme, which will run to July 31, it aims to buy two million tonnes of paddy rice.
As of July 15, the government had bought 1.6 million tonnes of paddy from farmers under the scheme, said the ministry's officials.
Ample rain has been seen in most rice-growing areas, and exporters said it could help boost Thailand's 2003/04 (November-October) main rice crop.
The Thai agriculture ministry estimates the crop will reach 20.99 million tonnes of paddy, up some five percent from the previous crop due to the favourable weather.
Thailand is currently in the rainy season, which usually starts in June and runs through to October.
MGR Archive 18.7.2003
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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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