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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Southeast Asia rice report - record rice crop projected
It goes without saying that the biggest news in the market is the IGB award on their tender originally closing April 25. Although the offers were extended until May 6, Iraq did ultimately confirm 60,000 mt of Thai 5% at around $420-425 per mt FOB and 30,000 mt of Viet 5% at $360-365.
We consider these net values to reflect about $10-20 per mt under the current market, with the Thai being discounted more heavily than its Viet counterpart. In the meantime, the market remains relatively quiet with very little elsewhere in the way of fresh demand offshore, amid bumper stocks at both origins.
The West Coast of Africa (a noted and extremely important market for both Thai and Viet rice) continues to buy in “dribs and drabs”...i.e. “hand to mouth”, which is making things very slow at origin. Therein lies the softness in the market which has been driving prices down for months.
According to the latest WASDE report, Indonesia, Philippines, Bangladesh, India, Vietnam, and Thailand are projected to have record or near record crops during the 2010/2011 marketing year. It should be noted that IGB has floated a new tender on the coat tails of their award for closing May 17 and reply 27. The $64,000 question remains whether or not they will pay the necessary premium to buy the higher quality rice from the Western Hemisphere ($100-150 per mt).
As regards the quoted market, we are calling Thai 100% B $460-470 per mt FOB Bangkok; 5% $430-440, and parboil around $450. Viet 5% is quoted at $350-360 per mt FOB HCMC, and a bit biddable in all likelihood.
MGR Archive 16.5.2010
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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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