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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Thailand exports are revised upward to 8.5 MMT
USDA, April 8, 2004
MY 2003 rice exports are revised upward to match the recent official target of 8.5 million metric tons, up considerably from the previous year’s record 7.6 million metric tons, due to the anticipated aggressive demand from buyers who can not secure rice from Vietnam and India, Thailand’s major competitors. Trade sources expect that exports should increase significantly in the first half of the year, as the supply situation among the major competitors is so tight that many foreign buyers are shifting to Thailand as a reliable source of supply. Moreover, China is reportedly expected to buy a significant amount of white rice on top of its regular annual demand (mostly for fragrant rice) of around 230,000 – 270,000 metric tons in recent years. Lastly, trade sources anticipate strong demand from South American countries, in particular Brazil, for the second consecutive year. However, they remain cautious about the current price surge to the five-year high of around US$ 260/ton (100% B grade white rice), FOB. This price spike has been partly caused by China’s aggressive demand for white rice starting in February 2004. This sharp increase in price is also due to the temporarily tight exportable supply, as the Thai government suspended its rice stock sales to exporters until May 2004 while an investigation into the corruption in the government intervention program. As a result, some exporters are reportedly taking losses from short positions. However, the overall supply situation of the second crop, now available in the market, is reportedly favorable, despite relatively lower levels of water, as compared to the previous year.
MGR Archive 9.4.2004
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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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