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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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Thai rice prices fall, Nigeria may change policy
Reuters
Thai rice export prices for most grades dropped on Thursday and they are likely to fall further in the next few days as domestic supply increases, traders said.

No large purchases from major importers such as the Philippines were expected this year, they said.

Thai 100 percent grade B was at $197/tonne FOB, down from last week’s $201.

“Trade has been generally quiet. However, buyers from Brazil and North America have been in the market,“ one trader said.

Buyers from China, the US and Canada had been seeking to buy Thai fragrant rice for November and December shipment, traders said.

Thai fragrant rice was offered at $430/tonne FOB for December shipment, versus last week’s $410. It was at $480/tonne FOB for prompt shipment.

New supplies are expected in the coming weeks as Thailand is now in the harvest season for the 2003/04 (November-October) main rice crop, traders said.

Thailand is the world’s top rice exporter, shipping six to seven million tonnes a year.

The agriculture ministry estimates the main crop at around 20.9 million tonnes of paddy, up 6.51 percent from the previous crop due to favourable weather and increased growing areas.

There was talk in the market that the Nigerian government was planning to change its policy on rice imports, traders said.

“We have heard that the Nigerian government is planning to raise the fixed price of Thai rice imports into Nigeria at higher than $230/tonne C&F announced earlier,“ one trader said.

Thailand shipped 7.2 million tonnes of rice in 2002 and a record 7.5 million tonnes in 2001.

MGR Archive 7.11.2003
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Region Type Price  
Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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