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 Corn Update
Corn Situation Update

Record high production in MY 2005 (estimated at 3.7 MMT) reduced domestic market prices for corn significantly. As a result, corn planting area and production were reduced in MY 2006. Consumption, on the other hand, bounced back to about normal levels because of the government’s successful efforts to overcome the adverse effects of the Avian Influenza outbreak - poultry feed production was only five percent lower in CY 2006 than in CY 2005. Big producers who can store their crop preferred to keep corn with the expectation of higher prices. As a result, domestic corn prices reached unexpectedly high levels (as high as YTL 0.45 per kilogram) last month.

Feed millers met with the Minister of Agriculture and the Director General of the Turkish Grain Board (TMO) a few weeks ago to explain the corn shortage situation and to ask the government to permit imports this year. As a result, the Director General of TMO announced a few days ago that the government decided TMO should import corn and that TMO had started preparations to announce a tender to import 300,000 MT. It is expected that TMO will receive permission to import corn with zero or negligible duty. TMO will announce the tender after receiving approval from the Council of Ministers. The published import duty on corn is 130 percent of the CIF value. TMO should be able to cover its handling costs and even make some profits by importing with no duty. Farmers began to sell their corn stocks soon after the government announced that TMO would be allowed to import 300,000 MT this year. As a result, corn domestic market prices recently declined to about YTL 0.38 per kilogram.

MY 2006 corn production estimates still vary considerably from one source to another. PSD estimates on planting area and production have been further revised downward to 650,000 hectares and 3 MMT, respectively, in addition to the downward revision made in June 2006 (See TU6031). Although it is extremely difficult at this point to predict changes in imports, Post increased import estimates by only 200,000 MT, from 300,000 MT to 500,000 MT, based on the assumption that most stocks will be marketed soon, and that some of the wheat harvested at the end of May might replace corn if corn prices remain high. Some traders, on the other hand, estimate imports will be much higher, at around 600,000 MT to 1.0 MMT. MY 2006 corn consumption is also estimated to increase slightly due to increased feed production.
MGR Archive 11.2.2007
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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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