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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Korea Rice Production
Production Policy:

In March 2005, the Korean National Assembly revised the Rice Income Compensation Act (RICA) and the Food Grain Management Act. The revisions were aimed at reducing government price supports under the WTO domestic support limits while continuing to provide support for rice farmers. Under the revised RICA, Korean rice farmers receive two income support payments, an area payment and a deficiency payment. In 2006, combined support payments totaled 1.15 trillion won (1.95 trillion won), while support payments for 2007 are budgeted at a record 2.42 trillion won ($2.56 billion). An explanation of how these payments are calculated follows.

Area Payment: This payment is made on a per hectare basis and is calculated using the average area of rice production during the base period 1998-2000. The 2006 area payment was 700,000 won ($586) per hectare, up 100,000 won or 16.6 percent from the previous year. The 2007 payment rate per hectare is not yet known.

Deficiency Payment: This payment is 85 percent of the difference between the nationalaverage market price during the 2006 harvest season (Oct-Jan) and the 2006 target price,less the area payment. In 2006, the deficiency payment amounted to slightly over 94 won ($0.10) per kilogram (milled basis).

2006 MMA shipments started arriving in early 2007 and will continue until the end of June this year.

Table rice auctions will be held May through July. The outcome of these auctions is expected to determine the CSQ allocations for specific rice varieties (i.e. medium grain) and grades (i.e. U.S. #1) under the 2007 MMA. If there is strong demand for U.S. #1 table rice, Korea will consider increasing the U.S. table rice allocation for #1 grade rice in the 2007 MMA.

MAF plans to release tender announcements for the 2007 MMA in late August or early September 2007. Under the 2007 MMA, Korea is committed to purchase 266,269 MT (milled) of rice, which will likely occur during the second half of 2007. Of the total committed purchase amount, approximately 70,000 MT (milled), or 26 percent, will be U.S.

medium grain rice, which includes both CSQ and MFN quota allocations.
MGR Archive 6.5.2007
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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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