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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Vietnam National rice reserve formed to stabilise market
The plan to establish the rice fund will be submitted to the government by MARD, the Ministry of Industry and Trade (MIT) and the Vietnam Food Association.

According to the MIT, the price of rice is not expected to fluctuate from now until the end of the year because Vietnamese farmers are expecting bumper crops this year.

However, like other products in the country, even if the supply and demand for rice are stable, there are times prices increase suddenly due to distribution, the MIT said, adding that is why an adjustment of distribution activities is an urgent priority.

The recent virtual shortage of rice proved that enterprises did not pay proper concerns on the domestic market, and focused mainly on exports, the Industry and Trade Ministry added.

In addition, the current tax policies did not encourage enterprises to take part in the domestic rice market.

The ministry said it has also coordinated with MARD to propose the government provide an exemption of the five percent value added tax rate on rice circulated in the domestic market.

Additional efforts to stablise the rice market include government approval for the Finance Ministry’s proposal to compile a plan on applying absolute tax on rice and urea fetiliser exports from June 2008.

In the first five months of the year, the country exported more than 2.1 million tonnes of rice of 2.4 million tonnes under signed contracts.

The ministries predict that an export target of 4-4.5 million tonnes of rice this year is feasible.
MGR Archive 9.6.2008
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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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