WORLD RICE SITUATION AND OUTLOOK
Global rice trade for 2002 is projected at 24.6
million tons, an increase of 100,000 tons from last month and down only 200,000
tons from revised 2001. Global
ending stocks in 2001/02 are projected to drop 700,000 tons to 125.9 million
tons as slightly higher world consumption exceeds declining world production
During the first half of the month, Asian rice price
quotes strengthened in part due to the Thai government’s increased
intervention purchases. Low-priced
exports from India continue to pressure global prices.
However, since last month’s report, export price quotes for Thai 100B
strengthened over the past month, increasing $11 to $207 per ton, Viet 5% export
price quotes have increased $7 dollars to $193 per ton.
Over the past week, price quotes softened as import demand weakened.
Additionally, Vietnam started the harvest of their summer-autumn crop.
Export price quotes for U.S. long grain grade #2/4 percent have also strengthened and are now $210 (FAS) per ton. Quotes for medium grain #1/4 California rice fell $5 to $265 (ex-spout Sacramento) per ton.
Trade Changes in 2002
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