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
Australia Medium Grain Rice #1 $ N/A    Egypt 101 #2 $760    Egypt 178 #2 Rice $730    EU Prices Baldo €660    EU Prices LG-A Ariete 5% €550    EU Prices MG Lotto 5% €500    EU Prices RG Balilla 5% €500    Russia Rapan $ 700    USA Jupiter Paddy $375    USA Calrose #1 Paddy $480    USA Jupiter Rice $630    USA Calrose #1 $830   

 Main Page
 Home Page of This Title
 Medium Grain Rice Market
 Global Market News
 Grain News
 Pulses News
 Global Overview
 Importers Profile
 Exporters Profile
 What Is Rice
 History Of Rice
 Rice Harvest Seasons
 Rice Processing
 Rice Nutrition Facts
 Meals With Rice
 INCO Terms
 US Rice Standards
 EU Codex Standards
 Egyptian Specs
 Sponsor List
 All Links
 Commodity Exchange
Search in news database
Vietnam rice prices stable, new demand to emerge
HANOI ,Rice prices in Vietnam, the world's third-largest rice exporter, have been mostly stable amid thin demand, but traders see a pick up in demand soon from new markets in South America and Jakarta's enactment of an import tax.
Traders said on Wednesday supplies remained thin even though harvest of the latest summer-autumn crop in the country's Mekong Delta rice basket has ended, particularly in the upstream, key growing provinces of An Giang and Dong Thap.
"Farmers are in no rush to sell the grain after finishing the harvest," said a trader in Ho Chi Minh City, adding that many foreign buyers have yet to seek new deals from Vietnam, which has in turn kept prices stable.
Seasonal floods have arrived in the delta but waters are forecast to peak late next month or early October, a factor traders said has helped farmers hold back the grain.
Weather reports said the floods were easing following lower tides and by Saturday waters at the gauging station on the Tien, a Mekong River branch in the delta, would still be 0.8 of a metre below an alarm level at which low areas are at risk.
Another factor contributing to stable prices was the government's decision this week to release 3,400 tonnes of rice from reserves to help people in central provinces where crops had been affected by serious dryness earlier this year.
A drought risk in central provinces has decreased with the arrival of rains over the weekend and more rains are forecast there in the next few days following the emergence of a tropical low pressure system now in the Tonkin Gulf.
Last year, Mekong Delta rice transport to central and northern Vietnam firmed domestic prices.
A foreign trader in Ho Chi Minh City said his firm, whose rice business has been idle for the past month, was expected to see fresh demand later this month.
Another trader said rice exports to Indonesia, a key buyer, would be increased after Jakarta decided to raise taxes on imported grain by nearly 19 percent from next January.
"The higher tax means more rice smuggling and Vietnam could therefore sell more to Indonesia," said a second trader in Ho Chi Minh City.
"Meanwhile, exporters would be more tougher when dealing with Indonesian buyers officially."
An official at state affiliated Vietnam Food Association (VFA) said Vietnam aims to expand grain exports to Brazil and has recently signed a deal to sell 40,000 tonnes of five percent broken rice for August shipment.
She said Vietnam needed to seize the current opportunity to market its rice while the United States lacks supply and rival India has temporarily stopped rice exports due to low stocks and adverse weather.
But foreign traders said Vietnam has limited export supply.
The country's latest summer-autumn rice crop produces lower quality grain than that of the previous winter-spring crop and therefore only part of the crop is fit for export.
The agriculture ministry has estimated the crop output at 7.3 million tonnes, unchanged from last year.
Export quotations of the 25 percent broken rice eased to $161-$162 a tonne, FOB Saigon Port, from $163 last week.
The higher grade five percent broken rice was quoted at $180-$182 a tonne, against $180-$183 a week ago.
This week a vessel has been loading at Saigon Port 14,036 tonnes of 25 percent broken rice for Cuba while six vessels have completed loading 76,212 tonnes for Africa, Cuba and Malaysia.
Vietnam exported 2.64 million tonnes of rice in the first seven months of this year, up 38.1 percent on a year earlier.
MGR Archive 21.8.2003
Printer Friendly Version Of This Article
Send This Article To A Friend
User Name:
      Forgot your Password?
Region Type Price  
Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
Click for Details

Medium Grain Reports
Rice Market News
World Rice Markets and Trade
USDA Country Reports
Rice Market Monitor
Rice Outlook
Italian Paddy Supply
European Rice Weekly
EU Reports
Convert this amount:

  © 2002 All rights reserved. - Legal Notice