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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Turkey Grain Corn Update
TMO, which still has about 440,000 MT of corn in its stocks, announced a price reduction for corn recently. TMO paid TL 332,000 per kilogram (approximately $240 per ton) to farmers to procure corn during the harvest season. TMO is supposed to sell corn at least 20 percent above the procurement price, which is TL 398,400 per kilogram, according to the procurement decree. TMO announced the sales price as TL 403,000 per kilogram (nearly $300 per ton). TMO was unable to sell corn, and as a result, announced a six-month deferred payment system with zero interest, last month. However, TMO still was not able to sell corn because of the preannounced high sales prices. TMO wants to sell all of its corn stocks prior to the new harvest season and needs cash for the procurement of the new crop. To do so, TMO recently announced a reduction in its corn sales prices for cash payments. The rate of reduction is about 13 percent in the Southeastern Anatolia Region and about 7 percent in other regions. TMO will sell corn at TL 305,000 per kilogram from Iskenderun, Gaziantep, Batman, Diyarbakir, and Sanliurfa silos and at TL 374,000 per kilogram from Afyon, Izmir, and Adana silos. Feed millers and poultry producers have criticized the TMO's corn procurement policy for the past severak years. They state that TMO is selling corn at high prices (near USD 300/MT) when the cost of imported corn is about USD 130 per MT. Feed millers started using more wheat and barley because of high corn prices in recent years. Feed millers are currently able to buy barley at TL 275,000 per kilogram and feed wheat at TL 290,000 per kilogram. On the other hand, farmers produced more corn in recent years because of the GOT support policy and, as a result, TMO was obliged to buy large quantities. TMO bought a total of 473,000 MT of corn and paid about TL 150 trillion (or YTL 150 million) in the current marketing year. Producing corn is three times more profitable compared to producing soybeans in Turkey, according to millers. The GOT is also providing a premium of TL 25,000 per kilogram for corn. Millers also state that, if Turkey imported all of its corn needs -- approximately 3 MMT -- the cost would be about USD 400 million. However, the industry is currently paying about USD 900 million with the current GOT policies. The difference, which represents the cost of corn support, is USD 500 million. In the end, the consumers pay this price through higher poultry and meat costs.

TMO’s procurement policy for other grains has caused similar price increases. Currently, prices of wheat and rice in Turkey are well above world levels and trade is restricted in these commodities. Currently the import duty on corn remains at 100 percent. It will not be lowered until TMO has reduced its stocks, and it will be increased before the domestic harvest begins. Due to the shortening of the timeframe to import corn, and the fact that feed millers are using more barley and feed wheat, Turkey’s import estimate for corn has been reduced to 200,000 MT for the current marketing year. Turkey may become selfsufficient in corn production in the near future, but at quite a price. Currently USD 1.00 is equal to about YTL 1.36 or TL 1,360,000.
MGR Archive 24.5.2005
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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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