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 MG Update
Production:

MAF recently conducted a nationwide survey of 9,000 rice producers to estimate domestic rice production for MY 2007/08. According to the survey results, MAF estimates the rice crop at 4.5 million metric tons (MMT), down nearly 4.0 percent from last year due to lower yields resulting from heavy rains during the pollination and filling stages in August and September 2007. MAF plans to release a final production estimate in mid November after the rice harvest is completed.

Imports:

Under the 2007 MMA, Korea is expected to purchase 266,269 MT of rice (milled) through international open tenders with delivery in Jan-June 2008. As has been done in the past, the 2007 MMA is divided into seven separate tenders, which are administered by two state trading enterprises, the Korea Agro-Fisheries Trading Corporation (aT) and the Public Procurement Service (PPS). aT conducts five tenders and PPS conducts two tenders exclusively for Chinese-origin brown rice. Under the MMA agreement, China, the United States, Thailand and Australia were each allocated fixed country specific quotas (CSQs), collectively totaling 205,228 MT (milled). A portion of the CSQ is allocated as table rice, which will continue to grow until the MMA expires at the end of 2014. The CSQ volumes are listed in the table below. In addition to the individual country specific quotas, all countries are eligible to participate in the tendering process for the global quota (GQ) allocations. The GQ allocations. The GQ allocations are generally limited to different brown rice varieties, short, medium, and long.

Country Specific Quotas (CSQs) - The 2007 MMA table rice allocation is 47,928 MT (milled), or 18 percent of the total MMA. In consideration of the past auction results and previous allocation rates, MAF has revised the table rice allocation rates for the 2007 MMA. The U.S. and Chinese allocation remain relatively unchanged at 30 percent and 62 percent, respectively. In contrast, the allocation rate for Thai table rice was adjusted to 4.2 percent, up 1.3 percent from last year.Meanwhile, although its allocation rate remained unchanged, Australia has announced that it is unable to deliver its 9,030 MT CSQ due the severe drought situation in 2007. In response, MAF has converted the Australian CSQ to a global quota (GQ) allocation, with 2,109 MT as #1 grade medium grain (MG) table rice, and 6,921 MT (milled) of #3 grade long grain brown rice. The United States is expected to be awarded the contract for MG given its current competitive edge. Based on the previous table rice auction results, Korea raised the percentage of #1 grade U.S. table rice to 70 percent, up from 60 percent from the 2006 MMA. The remaining 30 percent of U.S. table rice will be tendered as #3 grade or better. In comparison, half of Chinese table rice allocation is for #1 grade, while all Thai table rice allocation is for #1 grade. Global Quota - MAF has allocated the global quota, totaling 70,071 MT, by variety as shown in the table below. Imports of U.S. rice for MY 2007/08 are forecast at 72,000 MT. This estimate includes the U.S. CSQ, the MG global quota allocation and the converted Australian table rice CSQ. In contrast to last year, three U.S. companies have participated in the rice tendering process as anxiety regarding the LLRice arrival testing requirement has waned. An updated report relating to Korea’s existing LLRice testing requirements will be available soon.
MGR Archive 11.11.2007
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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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