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   

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Vietnam rice prices firm on thin supply, new demand
HANOI , Thin supply and fresh buying interest pushed up rice prices in Vietnam this week, and the firm trend should last for a while in the world's third-largest exporter of the grain, traders said on Wednesday.
They said farmers had finished the summer-autumn crop harvest in the key growing provinces of the Mekong Delta rice basket.
"However, farmers are not selling," said a dealer of a foreign trading house in Ho Chi Minh City. "They hope prices would firm up as the next crop harvest would only start in March or April next year."
He was referring to the harvest of Vietnam's best quality winter-spring crop, used mostly for export.
Planting of the crop will start in November after the ebbing of flood waters of the Mekong River.
Traders said pressure on prices had emerged in the past week, with foreign buyers seeking rice for Indonesia and Africa along with the loading of 60,000 tonnes of rice for Iraq.
A trader said state-run Northern Food Corporation was executing the shipment for Iraq under a government deal.
"The shipment has firmed up local prices and therefore has pushed prices up," he said, adding that the loading would be completed next month.
Export quotations for the five percent broken grain firmed on Wednesday to $185-$186 a tonne, FOB Saigon Port, from $183-$184 last week.
The 25 percent broken rice also strengthened to $165-$167 per tonne, from $163-$164 a week ago.
"Foreign buyers have stopped asking after prices firmed," said a state trader in the Mekong Delta.
Traders said by last week several ships, each capable of carrying up to 5,000 tonnes, had been loading at the Mekong Delta's small ports of Can Tho and My Thoi for Indonesia.
Buying demand for Indonesia has emerged in the past few weeks after Jakarta announced it would raise taxes on imported grain by nearly 19 percent from next January.
Traders said an European trading firm recently signed a deal of 15,000 tonnes of Vietnamese rice for shipment to Indonesia. They gave no further details of the deal.
Another deal covering 12,000 tonnes of five percent broken rice has been set at $182 a tonne, FOB basis, to Angola, and loading was scheduled to start on September 6, traders said.
The 12,000 tonnes are part of as much as 300,000 tonnes Vietnam expects to sell to Africa by year end, said a Trade Ministry report last week.
Vietnam exported 2.97 million tonnes of rice in the first eight months of this year, up 23.5 percent on a year earlier.
The first dealer said Vietnam was in a stronger position after rival rice exporter India stopped sales due to domestic shortages.
Last Friday, the head of India's biggest state-run food agency said India was unlikely to resume rice exports before December as it wanted to meet domestic demand for the grain.
MGR Archive 4.9.2003
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