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 to sell 280,000 tonnes of rice to Philippines
The National Food Authority of the Philippines (NFA) has decided to buy 280,000 tonnes of 25% broken rice from Vietnam with deliveries in June, July and August 2007..

NFA will buy 105,000 tonnes of 25% broken rice at $328.96/tonne, FOB (free on board), from An Giang-based Dagrimex and Afiex, and Vinh Phat Company. The other 150,000 tonnes will be bought at $328.99/tonne, C&F (cost and freight) from Kigifac, and the Southern Food Corporation (Vinafood). NFA will also import 25,000 tonnes of iron rich rice from Vinafood, at $348.99/tonne.

Currently, rice export prices offered by some Asian countries, mainly Thailand and Vietnam, remain at high levels due to short supplies. Vietnamese farmers do not want to sell rice at this moment as they are still waiting for prices to go up further.

According to the Vietnam Food Association (Vietfood), though the contracted rice export volume is much higher than in 2006, Vietnam had just exported 1.8mil tonnes by the end of May, reaping $580mil, a decrease of 21% in quantity and 9% in value compared to the same period last year.

The decreases have been attributed to difficulties in chartering ships for carrying rice and high shipping fees, which is equal to 30-35% of the export FOB price. For example, the shipping fee to Asia has increased from $16-17 to $25-30/tonne, and the fee to Africa from $80-90 to $110-120/tonne. Exporters said that it was very difficult to charter ships despite high shipping fees.

Vietfood has advised enterprises to transport rice in containers in order to ease the difficulties. However, container fees are also expected to rise in June.

Meanwhile, the Ministry of Trade (MoT) has advised companies not to sign more rice export contracts. Nguyen Dang Chi, Deputy Director of the Import-Export Department under MOT said that with the current delivery pace, by the end of June 2007, Vietnam would have exported 2.2mil tonnes of rice, a half of the yearly targeted export volume of 4.5mil tonnes.

The total contracted rice volume has nearly reached the targeted volume of 4.5mil tonnes. Mr Chi said that the most important task now was to ensure production and stable output. He said that exporters should not sign new contracts at this moment and should wait for the results of the upcoming crop.
MGR Archive 17.6.2007
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Russia Rapan $ 700
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USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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