WORLD MARKETS AND TRADE:

COMMENTARY AND CURRENT DATA

International: Thai quotes are down $1 from last month to $334 per ton, FOB, after quotes spiked as high as $339 due to fluctuations in the Baht. Nominal quotes out of Vietnam are at $307 per ton, FOB, due to the export ban.

Domestic: U.S. #2/4 long grain milled rice quotes are down from last month to $406 per ton, FOB. The spread between comparable qualities of Thai and U.S. rice is $72 per ton compared to $69 per ton this time last year. California medium grain #1/4 prices are unchanged from last month at $510 per ton, FOB.

• India is up 200,000 to 4.5 million tons supported by stronger production and high world prices.

• South Korea is expected to supply more to North Korea as food-aid for the balance of this year and next year.

• Thailand is down 200,000 tons to 8.6 million tons reflecting fluctuations in the Baht and high freight costs.

• Bangladesh is up 250,000 to 750,000 tons as adverse weather conditions create tighter supplies.

• Indonesia is down 100,000 tons to 1.9 million tons reflecting a slower shipment pace.

• Russia is down 140,000 to 180,000 tons due to import restrictions.

   

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Last modified: Friday, August 10, 2007