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
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Viet Nam, Thailand co-operate on rice price
BANGKOK — The world’s two largest rice exporters, Thailand and Viet Nam, have agreed to underline their marketing collaboration and stay away from price cutting in a joint effort to stabilise rice exports.

Exporters agreed that the global market situation had been "unusual", with demand high but supply from both countries low because of global warming and the fact that farmers have shifted to grow other energy crops, said Chookiat Ophaswongse, president of the Thai Rice Exporters Association.

He made the comment at the fourth Thailand-Viet Nam Rice Trade Co-operation Meeting in Bangkok on Wednesday.

Thailand and Viet Nam account for more than 50 per cent of the world rice trade, shipping 9.5 million and 4.5 million tonnes respectively last year in a world market of 28 million tonnes.

According to Chookiat, although there was now a sellers’ market, the exporters of the two countries wondered why they had been suffering losses over the last two months from advance orders due to rising domestic and world prices.

A joint effort was therefore necessary to stabilise prices as well as set arange of rice prices, he said.

He said current high rice prices partially stemmed from speculation, which governments needed to address, otherwise domestic rice prices would rise to the extent that exporters could not afford to buy from local farms and mills.

Chookiat predicted higher domestic prices would push down Thai exports to about 600,000 to 700,000 tonnes per month over the second quarter from one million tonnes a month earlier.

The Commerce Ministry is being urged to release its rice stockpiles into the market to help ease the price pressure.

According to Chookiat, Viet Nam is also suffering from tight supply in the country.

Rice exports from Viet Nams, were expected to shrink to between 4 million and 4.5 million tonnes this year from an earlier estimate of 5 million tones.

Thailand’s rice production is estimated at 29.9 million tonnes of paddy this year, 23.38 million tonnes of which would come from the first crop, up 2.4 per cent from last year, and another 6.5 million, a marginal decline, from the second crop.

Truong Thanh Phong, chairman of Viet Nam Food Association, said paddy output in Viet Nam was estimated at 36.5 million tonnes, unchanged from 2007.

Viet Nam would keep grain shipments unchanged this year at 4.5 million tonnes because its cultivation area has been shrinking, he added.
MGR Archive 5.3.2008
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Russia Rapan $ 700
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EU Prices Baldo €660
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