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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Far East Rice Report
The market conditions are basically unchanged with prices mostly sideways. However, the undertone in the market throughout the region remains on the soft side.
100% B is quoted at $450-460 per mt FOB Bangkok; 5% is $425-435, and parboil is $445-455. Viet 5% is fairly steady at $360-365 per mt FOB HCMC.
Export activity out of Vietnam has been fairly brisk with 700,000 mt executed in May, and a like amount projected for June, which would bring total exports for the first 6 months 2010 to around 3.5 MMT. The same can not be said for Thailand where exports have been relatively slow account two big reasons. The main reason is the lack of demand offshore account uncompetitive pricing versus other Asian origins. This provoked a dramatic drop in Thai prices over the past 4-6 months resulting in the second reason, namely defaults. However, in sharp contrast to 2008 when defaults were rampant among vendors account the sharp escalation in prices, buyers have been the guilty party this time, as prices collapsed.
Renegotiations, delays, and outright defaults have been part of the marketing process. Now that the market has seemingly found a trading range, we fully anticipate these "defaults" will be a thing of the past...at least for the near term.
The next big piece of prospective business will likely come in the way of another IGB tender, which should be floated this week for closing the week following. In our view, there are three issues at play for Iraq...price, premium quality, and diversification of origins in the interest of not placing “all eggs in one basket”. Otherwise, the market is generally quiet and the undertone steady to perhaps slightly softer as the Viet Summer/Autumn crop gets ever so closer to harvest, and comes in to play as regards supply side economics.

MGR Archive 16.6.2010
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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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