RICE: WORLD MARKETS AND TRADE
International: Asian prices continue to trend up. Thai 100B accelerated $27 over the last month largely as a result of the government intervention program, which introduced a new round of purchases November 1 at a higher purchase price. Thai prices are also up on the strengthening of the Thai baht and reduced crop prospects due to dry weather in the Northeast. Quotes are currently at $284 per ton, FOB. Viet 5% prices also edged higher by $4, to $235 per ton, FOB. However, Vietnam has relatively tight exportable supplies until the winter-spring crop is harvested in February. Meanwhile, Indian 5% quotes are up $8 to $255 per ton. India remains relatively withdrawn from the white rice market. (See PDF version for chart)
Domestic: U.S. prices continue to trend down thereby narrowing the spread between U.S. and Asian prices. U.S. #2/4 long grain milled rice is currently quoted at $329 per ton, FOB, down $6 from last month. The spread between similar qualities of U.S. and Thai prices has shrunk to $45 per ton. However, with Viet prices slow to increase, the spread between similar qualities of U.S. and Vietnam continues to be close to $100 per ton. Prices for U.S. #1/4 medium grain milled rice from California are quoted at $300 per ton, FOB, down $25 from last month.
TRADE CHANGES IN 2005
TRADE CHANGES IN 2004
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