WORLD RICE SITUATION AND OUTLOOK
International market conditions have not changed much over the past month as thin demand and large exportable supplies continue to pressure prices. Global trade for 2001 is down slightly from last months estimate at 22.2 million tons. While consumption continues to outpace production, ending stocks are expected to fall approximately 10 million tons in 2002.
In recent weeks, price quotes for high quality Viet rice have been on par with similar qualities from Thailand. Thai quotes have stabilized over the past four weeks due to consistent demand; Thai 100B export price quotes continue to average $176 per ton. However, quotes out of Vietnam have changed many times throughout the month for a variety of reasons - flooding in the Mekong Delta, tight supplies, and increased port loadings. Ultimately, export price quotes for Viet 5% have averaged $177 per ton.
With a projected record long grain harvest, price quotes for U.S. #2/4 have fallen to $237 per ton (FAS), US Gulf sacked. In contrast, in response to a smaller harvest, price quotes for high quality medium grain have jumped $40 per ton to $225 per ton ex-spout Sacramento port.
Trade Changes in 2002
Trade Changes in 2001
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