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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Egypt open rice exports
Announcing the resumption of rice exports on Monday, Egypt’s Trade Minister said that there is enough rice stock in the country and suggested there would be around one million tons of rice available for exports as rice production in 2012-13 is expected to reach around 4.5 million tons, compared to about 3.5 million tons required for domestic consumption. The USDA concurs with government estimates for production but says that “legitimate” rice exports would reach about 850,000 tons, adding that there were substantial contraband exports in 2011-2012.

The competitiveness of U.S. rice in the MENA region will be challenged by Egypt’s re-entry, says the USDA Post. It says, “Prior to the March 2008 export ban, Egypt exported 1.2 MMT (million tons) in MY 2006/07. U.S.-origin rice exports to the Middle East – North Africa (MENA) region have benefited from Egypt’s withdrawal from the market and will now face vastly increased competition.”

According to local sources, Egyptian medium-grain rice is likely to be quoted at around $750 per ton, almost at par with US medium grain milled rice quoted around $750 per ton today. Shipping proximity to traditional rice export markets in Jordan, Libya, Syria, Turkey, and Saudi Arabia will help Egypt regain its market share from the U.S. and Russia, countries that had gained market share in the region due to Egypt’s absence for four years.

Egypt has a tariff rate quota (TRQ) of 30,000 tons for brown rice and 10,000 tons for milled rice under the Egypt-Turkey Free Trade Agreement, which will help rice exports to Turkey, a prominent importer of HS 1006-30 milled rice. Egypt is also likely to re-capture rice markets in Libya, Syria and Saudi Arabia as well, says the USDA Post.
MGR Archive 4.10.2012
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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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