WORLD MARKETS AND TRADE:

COMMENTARY AND CURRENT DATA

MONTHLY HIGHLIGHTS:

Record Imports Expected in Senegal: In addition to its traditional demand from Thailand and India, Senegal is buying unusually large quantities of broken rice from non-traditional suppliers such as Brazil, Uruguay, and Argentina. Traders expect that some of the exports may be destined for reshipment to other countries, particularly Niger and Mali, where there are reported shortfalls due to locusts.

International: Asian rice prices have jumped over the last month. Price quotes for Thai 100B are up $5 at $293 per ton, FOB, supported by the announced intervention prices set to begin November 1. Overseas buyers remain withdrawn from the Thai market despite limited exportable supplies from other exporters. Viet price quotes for 5% are up $11 at $267 per ton, FOB, due to tight supplies, although there are currently no sales at these high levels. India 5% is up $6 at $258 per ton, FOB.

Domestic: U.S. prices increased by $8 over the month, with #2/4 currently quoted at $318 per ton, FOB. The medium grain market in California continues to strengthen. Current quotes for U.S. #1/4 sacked are $485 per ton, FOB (See PDF version for chart).

• Egypt is up 100,000 to 850,000 tons with greater supplies on higher yields.

• Brazil is up 150,000 to 750,000 tons due to a reduction in production.

• South Korea is increased 55,000 to 305,000 tons because of delayed tendering for the 2005 year.

• Brazil is raised 100,000 to 300,000 tons largely based on increased sales to Senegal.

• With continued strong shipments, Egypt is up 100,000 to a record 1.1 million tons.

• Thailand is reduced 250,000 to 7.5 million tons as the export pace falls further behind last year.

• Vietnam is boosted 300,000 to 4.8 million tons due to increased shipments to Africa, Philippines, Cuba, and Iran.

• Brazil is raised 75,000 to 500,000 tons due to increased movement from Uruguay and Argentina.

• Colombia is lowered 25,000 to 50,000 tons because of reduced border trade.

• Guatemala is increased 25,000 to 75,000 tons on more shipments from the United States.

• South Korea is dropped 55,000 to 175,000 tons as a result of delayed tendering for this year’s WTO import commitments.

• With strong parboiled shipments from Thailand and India, Nigeria is up 100,000 to 1.6 million tons.

• Senegal is increased 100,000 to a record 1.0 million tons, due to increased import demand.

Note: Historical revisions have been made this month to select Sub-Saharan Africa countries.

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Last modified: Thursday, October 13, 2005