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
 Restaurants
 INCO Terms
 Ports
 US Rice Standards
 EU Codex Standards
 Egyptian Specs
 Sponsor List
 All Links
 Rice
 Grain
 Agriculture
 Commodity Exchange
 Weather
 Other
 Info
 Editor
 Advertisement
 Technical
Search in news database
Bumper E.U. wheat crop, short U.S. harvest to boost E.U. exports
Lloyd's List International, July 14, 2004
SHIPOWNERS can expect to see a shift in wheat exports this season, with US wheat harvests down by 12% on last year's crop.

However, with the worldwide production increased, analysts believe that this gap in supply will be easily filled.

"US wheat harvests have definitely suffered and will not be able to meet expectations this year," says an analyst with a London-based brokering firm.

"But the European Union is expecting a rebound in wheat exports and that should see the market through."

This will come as music to the ears of those shipbrokers who have read a report by the US Department of Agriculture, which predicts a 16% drop in wheat exports this year.

According to last month's report, 32m tonnes of wheat were exported in 2003-04, while for 2004-05 this figure had dropped by 19% to 26m tonnes.

"This drop in production will not directly lead to lower exports," explains an independent analyst. "Although the harvest is reduced this year, the US has stocks from previous years which can supplement this. The main reason for the expected decrease will be the inability by the US to compete with countries which have had extremely good harvests."

In his opinion, the main competition that the US faces is from the EU, which is harvesting what is said to be a record wheat crop. With the increase in member states, and thus more harvest area, this is expected to be the main source of wheat exports in the world market.

He also believes shipowners can expect increased exports from countries such as Australia and Argentina: "They both had a good crop at the beginning of the year which puts them in a good position to export. Canada should see a similar production to last year's 15.5m tonnes. There will probably also be a revival in exports from the Black Sea area, with Ukraine and Russia likely to see high harvests for the mid- 2004 crop and a central surplus available for export."

Most market players are counting on an increase in imports to China to soak up the excess supplies, believing that, despite its record harvest, China will continue to import large quantities of grain to rebuild its diminished grain stocks.

However, the analyst says: "It is true that China may increase its imports. However, with its large harvest this season, Europe will definitely reduce its imports, thus balancing out the market. Other countries in the Middle East and Asia that usually import large quantities of wheat are also likely to need less. What this basically means is that the US is competing with all these countries for a staple market with no real increase in consumption. This is what will lead to a decrease in US wheat exports."

Thus, far from a drop in shipping activity, shipowners can expect an increase in activity along other routes, which should see prices rising in the near future.
MGR Archive 15.7.2004
Printer Friendly Version Of This Article
Send This Article To A Friend
User Name:
Password:
      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:


Convert
  © 2002 All rights reserved. - Legal Notice