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   

 Main Page
 Home Page of This Title
 Medium Grain Rice Market
 Global Market News
 Grain News
 Pulses News
 Global Overview
 Importers Profile
 Exporters Profile
 What Is Rice
 History Of Rice
 Rice Harvest Seasons
 Rice Processing
 Rice Nutrition Facts
 Meals With Rice
 INCO Terms
 US Rice Standards
 EU Codex Standards
 Egyptian Specs
 Sponsor List
 All Links
 Commodity Exchange
Search in news database
Kazakhstan to curb record wheat prices with export restrictions
Kazakhstan could introduce customs duties on grain starting from March 1 to restrict exports in an attempt to prevent a shortage in the country and further growth in grain prices, which have already reached record-highs, Kazakh Agriculture Minister Akhmetzhan Yesimov said.

Kazakhstan increased its harvest 22% in 2007 to a record-high of more than 20.1 million tonnes, including 16.6 million tonnes of wheat compared to 13.5 million tonnes in 2006. Grain producers, however, have already exported 7 million tonnes of the planned 10 million tonnes of grain since the start of the new season because of the favorable situation on world markets.

"Measures that we sometimes have to resort to will be taken on March 1, in particular customs duties on grain exports could be introduced. In any case, we will be restricting exports in the near future. We're not talking about a ban since we have enough resources," Yesimov said.

"We can still export about 3 million tonnes of grain before the 2008 harvest," he said.

Kazakhstan, the third largest grain producer in the CIS behind Russia and Ukraine, has been increasing grain exports gradually over the last few years and is planning to reach a level of 12 million tonnes per year compared to 9 million tonnes in the previous agricultural year, which would put it among the world's top five grain exporters.

Russia virtually suspended grain exports on January 29 when it introduced a duty of 40% per tonne in an attempt to contain growth in grain prices on the domestic market. Analysts say Russia had already exported 12.5 million-12.6 million tonnes of grain, including more than 11 million tonnes of wheat, before the duty was introduced.

Ukraine has also clamped down on grain exports with the introduction of grain export quotas. Ukraine was allowed to export 1.2 million tonnes of grain between January 1 and March 31, 2008. The country has export potential of 4 million-5 million tonnes in the 2007- 2008 agricultural year.

The cost of wheat has skyrocketed on global markets since May 2007, rising to a record-high $420 per tonne in the U.S. Wheat prices have set new records on sixteen occasions since September 2007.

Global wheat production will total 603 million tonnes in the agricultural year ending in May, while wheat consumption will amount to 619 million tonnes during this period, the U.S. Department of Agriculture said.
MGR Archive 2.3.2008
Printer Friendly Version Of This Article
Send This Article To A Friend
User Name:
      Forgot your Password?
Region Type Price  
Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
Click for Details

Medium Grain Reports
Rice Market News
World Rice Markets and Trade
USDA Country Reports
Rice Market Monitor
Rice Outlook
Italian Paddy Supply
European Rice Weekly
EU Reports
Convert this amount:

  © 2002 All rights reserved. - Legal Notice