WORLD MARKETS AND TRADE:

COMMENTARY AND CURRENT DATA

International: Export prices in Thailand remained mostly steady last month. The 2006/07 program will begin in November; 100B is currently quoted at $318 per ton, FOB, down $3 from last month.

Viet 5% is currently quoted at $265 per ton, FOB, up $4 from last month, due to limited supplies. Indian prices are up; 5% is currently quoted at $263 per ton, FOB. Prices have steadily increased since last month because of limited supplies, heavy loadings, and to a limited extent the government’s price support program, though it does not take effect until later this fall.

Domestic: U.S. #2/4 long grain milled rice is quoted at $423 per ton, FOB. The spread between comparable qualities of Thai and U.S. rice is $105 per ton compared to $8 per ton this time last year. Prices for U.S. remain unchanged from last month with #1/4 medium grain milled rice from California are currently quoted at $475 per ton, FOB.

• Burma is down 75,000 to 125,000 tons due to the suspension of permits to private exporters in May 2006 in response to the rapid increase in domestic prices.

• China is up 100,000 to 900,000 tons based on a strong export pace that is well ahead of last year’s at this same time.

• Indonesia is up 300,000 tons to 900,000 tons on recent tender news and the expectation of another tender later this fall.
• Nigeria is down 100,000 tons to 1.6 million tons as imports return to a more seasonal pattern in contrast to the same time last year when imports were unseasonably large.

• Trade estimates are finalized based on year end data for Pakistan.

• Trade estimates are finalized based on year end data for Afghanistan, Canada, Iran, Iraq, Malaysia, and Saudi Arabia.

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Last modified: Wednesday, September 13, 2006