WORLD MARKETS AND TRADE:

COMMENTARY AND CURRENT DATA

International: Export prices in Thailand remain high given the strength of the baht and buying interest from Middle East and Asian countries. There are no quotes out of Vietnam due to the export ban though there are reports that state owned exporting firms will be allowed to respond to tenders from Indonesia and the Philippines.

Domestic: U.S. #2/4 long grain milled rice quotes remain unchanged from last month at $434 per ton, FOB despite advances in late December. The spread between comparable qualities of Thai and U.S. rice is $113 per ton compared to $55 per ton this time last year. U.S. medium grain prices have retreated from last month’s highs of $575 per ton price to $565 per ton, FOB.

• Pakistan is up 100,000 tons to 3.0 million in expectation of greater demand.

• Thailand is up 450,000 tons to 8.7 million due to increased regional demand and strong prices.

• Vietnam is up 200,000 tons to 4.9 million also due to increased regional demand and strong prices.

• United States is up 200,000 tons to 3.4 million on the expectation of greater demand from major trading partners.

• Indonesia is tripled to 1.8 million tons as the prolonged dry season has delayed plantings and harvest in major producing areas.

• Philippines is up 200,000 tons to 1.8 million in anticipation that the government will build stocks.

Return to Table of Contents

Last modified: Friday, January 12, 2007