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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AWB to Supply A$341 Million of Milling Wheat to China
AWB Ltd., Australia's monopoly wheat exporter, won a contract worth about A$340 million ($267 million) to supply China National Cereals, Oils and Foodstuffs Corp., its biggest order from China in at least eight years.
The 1.5 million-ton contract of milling-grade wheat announced today adds to an order 11 months ago from China's central grain-buying agency for 1 million tons, Melbourne-based AWB said in a statement to the Australian Stock Exchange.
China may place additional orders to plug a local shortage of wheat suitable to make bread, dumplings and other flour-based food staples, spokesman Peter McBride said. More purchases from the world's largest wheat-consuming nation may ease a global oversupply that's contributed to a 15 percent slide in Chicago wheat futures prices this year.
``We believe China will continue to be an importer, depending on their stockpiles and production levels,'' McBride said in an interview. ``The size of any imports is the unknown.''
Wheat for March delivery fell 7 cents, or 2.1 percent, to $3.1975 a bushel Friday on the Chicago Board of Trade. AWB shares today rose as much as 8 cents, or 1.7 percent, to A$4.88 on the exchange and were at A$4.87 at 11:55 a.m. Sydney time.
China's government said today wheat imports jumped more than 18-fold in the first ten months of this year to 6 million metric tons compared with a year earlier. China chose Australian wheat over supplies from North America and Europe because of Australia's ``quality and freight advantage,'' McBride said.
MGR Archive 23.11.2004
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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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