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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Vietnam Wants to stop the sales
An official from the Vietnamese Ministry of Trade has urged rice exporters not to sign any more contracts this year to ship rice abroad.

The official estimated that, by the year's half-way point at the end of this month, 2.2 million tonnes of rice will have been exported, accounting for 50 per cent of the year's plan.

Current contracts for delivery of rice in the second half of the year would maintain this pace, so the goal of rice growers was to assure stable production and delivery on existing contracts, not to further increase export volumes.

According to Nguyen Dang Chi, deputy head of the Ministry of Trade's Export Department, land area under rice cultivation was decreasing due to industrialisation and urbanisation. In delta areas in the north, many farmers have given up rice growing altogether in favour of more consistently lucrative crops.

Future supplies are subject to changes in the weather and fluctuations both on the global market and in the domestic price.

While the official anticipates that supplies will be consistent with export plans for the rest of the year, no new rice export contracts were urged due to risks presented by possible floods or price fluctuations as the year progresses.

The Government was being cautions and would leave any further decision on rice exports to the end of the third quarter of this year, said Chi.

Meanwhile, he explained, the pause in rice exports will not negatively affect farmers. Rice prices have risen 18 per cent since the beginning of the year, and farmers are likely to reap a profit of VND5.1 trillion (US$318.75 million) by filling current export contracts.

While costs of growing rice are estimated at VND1,450/kg, farmers can currently sell at VND2,750/kg, guaranteeing them an 80 per cent margin, according to Ministry of Finance data.
MGR Archive 12.6.2007
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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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