WORLD MARKETS AND TRADE:
COMMENTARY AND CURRENT DATA
RICE: WORLD MARKETS AND TRADE
International: Thai prices jumped $10 this month mostly
on currency fluctuations, with quotes currently at $306 per ton, FOB. Domestic
prices continue to be supported by the mortgage scheme with over 600,000 tons of
government stocks auctioned this month at near market prices. Vietnam prices are
up $1 to $264 per ton, FOB, although with harvest approaching, there could be
some downward pressure on prices in the short-term. (see
PDF version for chart).
Domestic: U.S. long grain prices have strengthened over
the past month, up $17, with #2/4 currently quoted at $368 per ton, FOB. This
brings the price spread between Thai and U.S. rice to $62 per ton. Meanwhile,
U.S. medium grain prices have stabilized; current quotes for #1/4 are $515 per
TRADE CHANGES IN 2006
- Vietnam is increased 500,000 tons to 5.0 million because of its
aggressive early-year sales pace.
- Indonesia is boosted 200,000 tons to 1.0 million as imports will
likely be needed to maintain buffer stocks once the harvest is over and to
offset the recent rise in prices.
TRADE CHANGES IN 2005
- Australia is reduced 25,000 tons to 100,000 due to continued weakness
in its export pace.
- The United States is increased 50,000 tons to a record 3.95 million
tons due to a robust export pace.
- China, Thailand, Uruguay, and Vietnam are revised based
on year-end data.
- Brazil is raised 45,000 tons to 545,000 based on stronger than
anticipated import demand during the last quarter of the year.
- Cuba is dropped 50,000 tons to 750,000 due to weak last quarter
imports from Vietnam.
- Haiti is increased 25,000 tons to 325,000 because of steady import
demand, mainly from the United States.
- Nigeria is boosted 100,000 tons to 1.8 million due to the strong pace
of shipments from Thailand and India.
- Demand for fragrant brokens has pushed Senegal imports to a new
record; the estimate is raised 50,000 tons to 1.2 million.
- South Africa is increased 50,000 tons to 850,000 due to strong
parboiled shipments from Thailand and India.
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Friday, February 10, 2006