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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World rice market price edging higher at the wrong time of the year
The world market price in local markets continues to edge higher at the wrong time of the year — as we are moving into the main crop harvest for Asia. Prices are moving higher because production is not going up much in China, Indonesia or in Vietnam.

Rice production is going up in India, which is the good news for India. Government rice procurement is up in India, which is double good news. India has also become a huge importer of wheat, just when Australia’s wheat and rice crops may be lowered by 50 percent or more this fall.

It is best to think of this situation in terms of food grains. We are in a food grain bull market and the current El Niño has crunched out hurricanes in the Atlantic and hurt the Australian wheat crop. If this El Niño stays around through 2007 — and remember we have had El Niños that lasted awhile — then it could bump into India next summer and turn their rice crop from bumper crop to a bent fender as well.

The El Niño forecast has gone from mild to moderate, and its impact has been like a punch in the face for global food grain production around the Pacific region so far this year, and it is still gaining momentum.

This is why I like El Niños. There is an agreed upon database and the science is relatively straightforward. Every El Niño forecast has the name of the forecaster tied to it. If only Arkansas rice forecasts could be so clear-cut.
MGR Archive 3.10.2006
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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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