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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Thai Prices Little Changed In Thin Trade
DJ Asian Rice
MANILA (Dow Jones)--Asian physical rice export prices were little changed Thursday amid thin trade in Thailand as most buyers were sidelined by high freight costs, exporters said.

According to Bangkok-based exporters, only a few buyers were making inquiries in the market as a shortage of vessels that would ship out the grain has been keeping many buyers away from the market.

Buyers of parboiled varieties, for instance, mostly from Africa have been away for some time now due to high costs of freight.

Freight prices from Bangkok to West Africa have soared to $100/ton from $60/ton early this year, one exporter said.

"They (African buyers) can't make deals unless they have already have a vessel that would pick up their rice," he said.

Meanwhile, the Thai commerce ministry's scheduled auction next week to sell 868,000 metric tons of rice from its stocks is likely to put pressure on local prices next week, said exporters.

"Prices may be softer but any price movement will depend on the exchange rate," a second exporter said.

Of the total volume to be sold, 556,000 tons are part of the 1 million tons of rice that President Agri Trading Co. failed to take delivery of in an auction three years back, and 312,000 tons are from the government's accumulated stocks from previous crop years, said Pisut Chalakornkul, president of the Public Warehouse Organization.

The ministry has about 4 million tons of rice in warehouses and is spending THB1.2 million a year to regulate rice stockpiles, Pisut said.

Sale of rice from stocks will help the government reduce its large stockpiles and storage costs while freeing up space for rice from the coming main 2007-08 rice crop that will be harvested in November.

"The ministry will urgently release rice under the government's responsibility to reduce the cost of stockpile operations," he said.

Thai 100% grade B was offered little changed Thursday at $332-$335/ton, FOB Bangkok, 5% broken at $323-$325/ton, while parboiled 100% sortexed was offered at $330-$335/ton.

In Vietnam, indicative prices were unchanged Thursday as exporters continue to scamper for supply to fulfill outstanding contracts, exporters said.

"The harvest is about to end so exporters are in a hurry to get their supply," one exporter said.

Harvesting of a major crop in Vietnam will be completed next month even as many exporters have outstanding contracts involving huge quantities, which could lead prices to rise further.

Indicative price for Vietnam's 5% broken was unchanged Thursday at $315/ton, FOB, Ho Chi Minh City, while that of 25% broken was at $297/ton.

In other news, Thailand's rice exports from Jan. 1 to Aug. 22 rose 11.9% on year to 5.15 million tons, the Commerce Ministry's Department of Foreign Trade said Wednesday.
MGR Archive 4.9.2007
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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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