RICE: WORLD MARKETS AND TRADE
China Rice Revision: The stocks and consumption series for China have been revised for 1997/98-2006/07 based on reports of less rice being fed. Livestock feed rations are becoming more sophisticated with more corn and soybean inputs at the expense of rice. A discussion of the revisions and a comparison of old and new estimates are available at http://www.usda.gov/oce/commodity/wasde/revisions/historical.htm
International: Asian prices are still showing a wide divergence between suppliers. Despite the prospects for a good crop, prices in Thailand remain high, sustained by the government’s intervention program. Thai 100B is currently quoted at $320 per ton, FOB, up $2 from last month. Viet 5% is currently quoted at $259 per ton, FOB, down $2 from last month, yet prices remain strong due to large outstanding contracts currently loading, combined with strong demand. However, prospects for a larger crop could moderate future prices. Indian prices are up; 5% is currently quoted at $257 per ton, FOB.
Domestic: U.S. prices have remained steady with U.S. #2/4 long grain milled rice quoted at $379 per ton, FOB. The spread between comparable qualities of Thai and U.S. rice is $59 per ton. Prices for U.S. #1/4 medium grain milled rice from California are currently quoted at $475 per ton, FOB, unchanged from last month (See PDF version for chart).
TRADE CHANGES FOR 2007
TRADE CHANGES FOR 2006
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Last modified: Tuesday, July 18, 2006