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
 Restaurants
 INCO Terms
 Ports
 US Rice Standards
 EU Codex Standards
 Egyptian Specs
 Sponsor List
 All Links
 Rice
 Grain
 Agriculture
 Commodity Exchange
 Weather
 Other
 Info
 Editor
 Advertisement
 Technical
Search in news database
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
Printer Friendly Version Of This Article
Send This Article To A Friend
User Name:
Password:
      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:


Convert
  © 2002 All rights reserved. - Legal Notice