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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Rice price to remain high in near future
CONSUMERS, already reeling from high inflation, will continue to pay more for rice in the coming months, if trends available with importers are any indication.

Giving this information to Gulf Times yesterday, a senior official of a leading import firm said that at the current rate it would be highly uneconomical for companies like his to continue importing rice.

The official said that the increase in the price of different rice varieties from India and Pakistan following their refusal to export, had forced the importers to switch to Thai rice. “However, the big rise in demand has prompted the exporting houses in Thailand to raise the prices of their rice,” the official said.

Parboiled rice from Thailand, which was available in the Gulf for $350 for one metric tonne about two months ago, costs as much as $680 per metric tonne now.

“For carrying shipment to warehouses, there are additional costs involved and by the time it reaches the customers, they would end up paying at least 50% more than what one would have paid a month ago,” the official said.

He said Thai rice was sold for less than $570 per metric tonne, until a fortnight ago. Before India imposed restrictions on the export of rice, following huge rise in domestic consumption, it used to arrive in Doha for prices between $330 and $380 per metric tonne. Though small quantities continue to come from South Asian countries, it has not helped reduce the prices.

Like the parboiled rice, the prices of Basmati, Sarbati (both from India and Pakistan) and long grain rice from Pakistan too have shot up considerably.

A 38-kilo bag of long grain rice used to be available for around QR65 a month ago. Now it costs QR92, according to another importer. Similarly, Basmati from India, which used to be available for around $900-950 per metric tonne now costs as much as QR1,250 -1,400.

Pakistani rice, too, costs upto QR1,450/metric tonne, traders said. Similarly, the retail prices of long grain rice from Pakistan have almost doubled from QR2 to QR 3.75/kilo at the groceries. Most importers claim that they take only a nominal profit of 5-10% on most varieties of rice. “We need to meet our staff salaries, transportation costs and rent for warehouses from our small margins,” said an importer.
MGR Archive 9.3.2008
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Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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