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TH5132 – Export prices declined around 1 percent as the rumored G-to-G agreement with Indonesia has not yet been finalized.
Despite an extended El Nino event, Indonesian rice and corn production did not experience significant declines.
On October 22, Taiwan completed a normal tender GF4-104-105 for 4,000 MT of U.S. medium or short grain rice and scheduled another normal tender for October 29.
With MAFF’s strong push to use rice for feed, rice used in compound feed exceeded one million metric tons in MY2014/15 for the first time on record, at the expense of wheat and corn.
The outlook for winter grains production in Australia has deteriorated due to particularly adverse seasonal conditions, including lower than expected spring rainfall and record temperatures.
Mexican sorghum production has been plagued with a serious sugarcane aphid (SCA) infestation resulting in reduced crop yields, harvest efficiency reduction, and in some areas severe crop loses.
Export prices were virtually unchanged expect for fragrant rice prices. The Ministry of Commerce is proposing on-farm pledging program for MY2015/16 fragrant rice production.
The report provides trade data on Vietnam's monthly rice exports by grades and destinations, and weekly quotes for export rice by grades.
On October 13, Taiwan completed the second U.S. Simultaneous-buy and Sell (SBS) rice tender for 18,000 MT and scheduled two U.S. rice normal tenders...
Export prices increased around 1 percent due to the strengthening of the Thai baht. A rumor about a new G-to-G contract with Indonesia also put upward pressure on domestic prices.
Post’s MY 2015/16 milled rice production forecast has been lowered to 103 MMT from a projected harvested area of 43.2 million hectares on moisture stress due to weak monsoon rains in August-September.
Export prices increased 2 to 4 percent as exporters are seeking new-crop rice for shipments under the Government-to-Government contract with the Philippines.