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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Markets sought for rice harvest
With a record rice harvest this year, the rice industry is scrambling to find markets for it all. With higher supply, prices have also dropped fairly quickly.

Rice farmer David Skinner said growers were hoping for a price around $4 above the guarantee loan rate offered by the government, but some rice marketers are offering just $1 over loan.

The loan rate is a program through the United States Department of Food and Agriculture. Rice producers receive loans which give them financing to grow crops without having to sell their commodities when market prices are low.

Mark Kimmelshue, of ARMCO said the average prices last year were in the $6 over loan range, but now things are looking like $1-$1.25.

However, last year's prices were the highest they had been in 25 years.

For perspective, rice prices were $3.13 over loan in 2002, $2.19 in 2001 and $2.05 in 2000.

Kimmelshue said it is too early to know if this year's big crop will carry over to mean lower prices again next year.

The glut is due to production of about 50 million 100-pound bags of rice in California this year, up nearly 25 percent from last year.

Normally, carryover from one year to the next is about 4 million to 6 million bags, but this year it might reach 12 million bags, Kimmelshue said.

Carrying rice over into the next marketing year is expensive because sellers have to pay for storage. Also, newly harvested rice is more desirable.

Worldwide rice stocks in general are at the lowest they have been in 20 years, he said, which could provide some good news for rice demand. However, these sales would tend to be the lower-priced markets.

In addition to good weather during the growing season, the large crop was also bolstered by farmers who often plant other crops switching to rice because it looked like the rice market would be better than things such as tomatoes and safflower.

Rice makes up about one-third of Butte County's $350 million agricultural market.
MGR Archive 12.12.2004
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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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