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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China corn export 1 MM higher
China’s corn exports for MY04/05 are estimated at 7 mmt, 1 mmt higher than post's previous estimate. The near record corn output of 130 mmt in 2004 resulted in lower than expected domestic prices. To prevent the domestic price from falling, the government increased support for corn exports in 2005. The increased VAT rebate and other subsidies from both central and provincial governments for corn export played a decisive role in maintaining Chinese corn competitiveness in MY04/05. The forecast for MY05/06 corn export is unchanged at 3 mmt. As happened in MY04/05, government decisions in MY05/06 have not been made clear ahead of the fall harvest. Whether to expand support for corn exports will be a key factor in determining export competitiveness (as explained in CH5026).

Preliminary official data showed China’s corn output in 2004 reached 130.3 mmt, representing a rise of 12.5 percent over the previous year.

In 1,000,000 MT Growth Rate
Corn 130.3 12.5%
Wheat 91.95 6.3%
Rice 179.1 11.5%
Source: State Grain Administration’s report on grain output in 2004

The increased VAT rebate has helped maintain the competitiveness of Chinese corn export. Customs data shows that the average monthly export prices (in FOB) at northeastern Dalian port were lower than the average corn prices in production region. Northeastern port Dalian exported more than 85% of China’s total corn export in MY04/05.

China Corn Export Price (FOB in US$/ Metric Ton)
Port Oct 04 Nov 04 Dec 04 Jan 05 Feb 05
Mar 05 Apr 05 May 05 Jun 05
Dalian 160 140 130 130 130
130 130 130 130
Source: China Customs
MGR Archive 4.8.2005
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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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