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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Calrose Medium Grain Market
Farm and Trade
The cash market remains a place where buyer and seller have a very tough time coming to terms. There has been some light trading in the mid $5/cwt over range but many growers are still waiting for higher prices as their costs are at or above these levels. On the bearish side, there are a couple hundred thousand cwts that needs to be redeemed by August 1, there continues to be push by some to have normal summer buyers take new crop (either for politics or lack of rice supply), and pool returns are expected to be near $5/cwt over. On the other hand, there are many very positive/bullish things happening that (in my humble opinion) greatly exceed any negatives. Of key first interest, the Australian drought continues to be a major factor (even with rains this week) with the Australian government now saying June was the driest in over 100 years and talk of reduction in crop estimates. Second, the Egyptian ban on exports is also critical in that it leaves a big hole that must be filled somewhere. Third, the new USDA/WASDE supplies numbers were changed to show more of what we had been saying for some time. USDA is now showing a crop of only 46 million cwts or rather 38 million cwts in CA and 8 million cwts in the South. This USDA "official" estimate takes supplies to the lowest level since 1998, which was a time when Taiwan and Korea were taking much less rice. Also of note, this supply includes a record import level of 6 million cwts which is questionable with the Australian drought, Egyptian supply questions with an export ban on, and China still indicating they don't have any available supplies to book. This also takes year end supplies to the lowest level since 1998 at 7.2 million cwts (well under pipeline) and forces USDA to only have exports at 20 million cwts which is very questionable with increased demand from Korea along with continued buying from Japan, Taiwan and other origins. Taken all together, one would have to seriously question the idea that prices have any downward direction in coming months.
MGR Archive 20.7.2006
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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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