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 will cut rice exports in bid to keep prices low
The most immediate change to hit the market will be Vietnam's decision to reduce the amount of rice being exported for the rest of this year. As the second largest exporter of grain in the world, this withdrawal of supplies is likely to see importers switch their attention to other countries such as Pakistan and India.

The decrease in exports is part of an attempt by the Vietnamese government to keep rice prices low in the face of dwindling stocks.

According to sources at the International Grain Council, Vietnamese trades reported "fresh demand was limited given high floor prices set by the Vietnam Food Association of $ 225 fob for 5% and $ 214 fob for 25% broken grades. China sought 0.5m tonnes of paddy and husked rice from Vietnam, but as such an order could not be fulfiled until early 2005 due to limited supplies, follow-up enquiries are scheduled to be made next year."

Prices in the domestic market have been firming as of the last few weeks and should result in higher prices for contracts signed in the first two weeks of November.

Rice exports for this month are estimated at 250,000 tonnes, and those for December at 200,000 tonnes.

Another country set to decrease it's rice exports is Thailand, which has reduced it's forecast rice exports for 2005 by 2m tonnes, to about 8m tonnes, in the face of an expected drought.

Domestic harvests for 2005 in the country are expected to be about 19m tonnes.

Wattana Muangsook, Commerce Minister for Thailand said: "We expect to ship less rice, not because we are not capable of selling, but we do not expect to have as much rice for export. We expect local supply to be cut by drought."

He added that the government would seek to increase prices by the end of next year to curb exports.

However, a competitor from the same geographical area that might step into the breach with an expected 4% increase in exports is Indonesia.

Widjanarko Puspoj, chairman of Indonesian state logistics firm Bulog said that the company will export 50,000 tonnes of rice to ,African and the Middle East.

He added: "We are also prepared to export an additional 100,000 tonnes of rice next year, but we haven't finalised the destination countries and their demand."

However, the country is expected to see competition from Pakistan, which has enjoyed a larger than expected harvest this year, and India, which is expected to recover from the lower harvest it saw this year.
MGR Archive 12.11.2004
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Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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