WORLD MARKETS AND TRADE:
COMMENTARY AND CURRENT DATA
RICE: WORLD MARKETS AND TRADE
International: Thai prices jumped $12 this month, with
quotes currently at $296 per ton, FOB. While domestic prices continue to be
supported by the mortgage scheme, most of the increase is because of currency
fluctuations. Vietnam prices are currently quoted at $263 per ton, FOB. Although
the soft export ban has reportedly been lifted, there are indications that
limitations are still in place through the month of January.
Domestic: U.S. long grain prices have strengthened over
the past month, up $16, with #2/4 currently quoted at $351 per ton, FOB. This
brings the price spread between Thai and U.S. rice to $55 per ton. Meanwhile,
U.S. medium grain prices have stabilized; current quotes for U.S. #1/4 are $515
per ton, FOB.
TRADE CHANGES IN 2006
- Australia is further increased 100,000 tons to 500,000 due to larger
- With a new parboiled rice mill, China is raised 100,000 tons to
- Continuing the extraordinary export pace of 2005, Pakistan is
boosted 600,000 tons to a record 2.8 million.
- The United States is reduced 100,000 tons to 3.7 million due to
reduced competitiveness resulting from higher prices.
- Philippines is boosted 700,000 to 1.8 million tons in response to
indications of unusually strong first and second quarter import demand.
TRADE CHANGES IN 2005
- Burma is raised 25,000 tons to 175,000 considering the stronger pace
- Pakistan is up 300,000 tons to 2.65 million due to robust
exports to Africa.
- With enhanced shipments to select African and Middle East markets,
Uruguay is increased 100,000 tons to 750,000 despite reduced shipments to
- China is raised 100,000 tons to 600,000 based on stronger than
anticipated import demand for fragrant rice.
- Cuba is dropped 50,000 tons to 800,000 due to weaker fourth quarter
- With stronger imports from Egypt and the United States, Jordan is
increased 25,000 tons to 150,000.
- Nicaragua is raised 40,000 tons to 150,000 due to heavy shipments from
the United States.
- Peru is boosted to a record 140,000 tons because of continued import
demand from Uruguay and the United States.
- Sub-Saharan Africa is increased 225,000 tons to a record 8.2 million
tons, with most of the increase in Ghana, Mozambique, and
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Friday, January 13, 2006