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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S Korean Gov To 'Guarantee' Minimum Price For Rice
The South Korean government will "guarantee" a minimum price of 165,000 won (US$163.8) per 80-kilogram sack of rice this year, the Ministry of Agriculture and Forestry said Sunday.

The measures come as the National Assembly's agriculture committee passed revised bills on preserving rice prices and grain management last week.

The bill will become law if it is approved by a parliamentary plenary session as expected.

The changes will end a decades-long trend that has seen South Korea buy rice from farmers after the fall harvest, a program that conflicts with global trends to reduce and abolish state subsidies.

Governments can however switch to an emergency storage system to meet their individual needs, such as preparing for a disastrous harvest or situations of armed conflict.

The changes will also alleviate concerns by farmers who depend heavily on rice-derived income that their earnings will not be reduced.

Up to 6 million seok of rice are to be bought by the government under the new scheme. One seok equals 144 kilograms.

Ministry officials said the minimum price can be awarded to rice growers even if sale prices plummet 15 per cent this year compared to 2004. Such a fall is not likely.

Government experts said lawmakers have slightly revised the original bill submitted by the Ministry of Agriculture to raise the minimum price of rice. In addition, lawmakers must now approve the set price for an annual rice quota to be purchased and used by the government for emergency storage.

The latter clause was included at the request of farmers who want the ability to "pressure" lawmakers to make certain that the minimum price is kept within acceptable levels.

South Korea is moving to reform its agricultural policies in preparation for progress that may materialize at the Doha Development Agenda talks, which are expected to be concluded in 2007-2008.


MGR Archive 1.3.2005
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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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