Thursday saw the release of US Export sales for rice. Export shipments totaled 76,900 MT. The shipments were an 18% decline from last week and 22% below the prior four-week average. The primary destinations were Haiti with 28,000 MT, and Mexico at 23,600 MT.

In world markets, Asian rice prices were unchanged Thursday on limited trading activities in both Thailand and Vietnam. Thai exporters said the market was relatively quiet this week as buyers deem prices too high. Despite thin trade in Thailand, prices are likely to remain firm because of the government's price intervention program for paddy.

In Vietnam, prices were unchanged Thursday on quiet export trade, although exporters were busy filling up outstanding contracts. Prices could go up next week as export supply could begin to dwindle because of outstanding contracts that need to be fulfilled.

India's Cabinet late Wednesday set the 2005 intervention price for rice, the country’s largest crop, at INR5, 700 PMT, up from last year.

State-run China Grain Reserves Corp. bought 452,500 MT of long-grain nonglutinous rice produced locally in 2004 at an average price of CNY1, 696.03 PMT, including transportation costs, in a tender Tuesday in Jiujiang city, Jiangxi province.

China plans to buy 410,000 MT of domestically produced long-grain nonglutinous rice through a tender April 27 in Anhui province to boost state rice. China Grain Reserves Corp., which manages state grain reserves, plans to buy rice that was produced last year and that is of at least medium quality.

Asian Market:

India’s Basmati rice export is poised to cross the 1 million MT mark for the first time with exports in value terms slated to touch INR 2,000 million during 2004-05. The basmati export till January this year touched nearly 0.8 million MT as against 0.9 million MT during 2003-04.

Speculative buying pushed Thai rice futures higher on Monday, but prices could ease over the next few days in an overbought market. Overall volume rose as 275 contracts of 5 percent white rice were traded compared to last Tuesday's 94.

Korea has reportedly decided to purchase 111,210 MT of rice as a form of food aid to North Korea from India and Egypt until 2014, instead of delaying the timing of the opening of its rice market.

Bangladesh’s agriculture minister has stressed the need for using high yielding varieties (HYV) of seed and modern technology to ensure more production of rice. He urged the authorities of seed companies to come forward to produce high yielding seed through contract growers.

Export prices of Vietnamese rice were mostly lower in the week ended Tuesday due to high local supply. Viet 5% broken rice was quoted at $259 PMT fob, compared with $264-$267 PMT fob in the previous week, while 25% broken rice was being offered at $253 PMT fob, little changed from $254 PMT fob last week.

This week, 14 vessels are waiting at Vietnam's Saigon port to load a total of 168,200 MT of rice for shipment to Cuba, Japan, Africa and the Philippines.

North America:

Rough rice futures at the Chicago Board of Trade ended moderately lower Monday, quietly consolidating within last week's trading range amid the absence of any fresh fundamental features to drive the market. CBOT May rice finished $0.095 per cwt lower at $7.28 per cwt and July rice ended $0.10 per cwt lower at $7.47 per cwt.

For the week ending April 17, the US Department of Agriculture has estimated 79 % of the rice crop has been planted in Texas and 68 % has emerged.

As per the weekly rice summary by the US Department of Agriculture, domestic milled rice price quotes were steady, by-products were steady to lower. In the south, long grain rice prices were steady, quoted mostly at 13.50- 14.50; medium grain prices were steady, quoted mostly at 13.50-13.75; parboiled rice prices were steady, quoted mostly from 15.00-17.00; second heads were steady; brewers were steady.

South America:

Recent rains registered in Entre Ríos (Argentina) during March and April has caused delays in all grain harvests. The rice and soybean crops have advanced much more slowly during this cycle (60%) in relation to the same period of in 2003/04. The harvesting has been prevented by rains and that caused a reduction on quality. The department of Uruguay has been using dryers to reduce the humidity of the grain.

The drought like situation in Ecuador has affected the rice crop in the country. The agronomists fear that if this continues for long it could lead to a reduction in production level of the crop. In addition to lack of rain, the insects have also attacked the plantations due to climatic misalignment.

Africa:

American-sourced rice would soon be introduced into the Papua new Guinea market by a Trukai – a company there. The company imported 7000 MT of American medium grain rice, which it said was of high quality, to package in Lae for both the local market as well as exports to several Pacific island countries.

In the Asian market prices of Thai exportable rice were steady Monday with offers much of last week, as buyers still considered offers by Thai exporters too high. Thailand's rice prices aren't very attractive, especially when compared with its main competitor, Vietnam.

Thailand's rice exports from Jan. 1 to Apr. 4 totaled 1.966 million MT compared with 2.156 million MT the same period a year earlier, according to data provided Monday by the Department of Foreign Trade at Thailand's Commerce Ministry.

Vietnam's rice exports so far this year until April 15 totaled around 1.2 million MT, up 13% compared with the year-ago period, an industry official with Vietnam Food Association estimated Monday.

Since the beginning of 2005, the largest buyers of Vietnamese rice have been the Philippines, followed by African countries and Cuba.

Meanwhile, a Thai delegation will visit Russia June 4-11 to promote Thai rice exports, Vichak Visetnoi, deputy director-general of Thailand's Department of Foreign Trade, said Monday. The delegation, which will include officials from the department and Thai rice exporters, will meet with Russian rice importers and could negotiate transactions without using brokers.

Pakistan’s Export Promotion Bureau minister sees an export potential of one billion dollars a year for Pakistan in four South American countries - Brazil, Mexico, Argentina and Chile - where he is leading a 28-member business delegation next week.

Pakistan’s Minister of State for Food said that government is committed to provide all necessary facilities to growers to increase per acre production of rice in the country. Focus will be on the promotion and development of Sindh varieties of rice including PK-198, Irri-6, Irri-9, Super Basmati and Sindh Lateefy and adopting advanced techniques and strategy to overcome water shortage.

The Japanese government has reportedly donated about 4,900 MT of rice to The Gambia under its food aid programme. The food aid just will go a long way in ensuring food security, as well as mitigate hardship due to the current high price of rice in the country.

Prices of different varieties of rice fell in the past week in Bangladesh wholesale markets, but in the retail markets they remained mostly unchanged over the last week.

The South Korean government is considering the option of releasing the original agreement signed between itself and nine countries that outlines details of the further opening of the local market to outside competition.

Korea’s Ministry of Agriculture and Forestry (MOAF) is under speculation for allegedly making backdoor agreements with rice exporting countries like China, to remove trade barriers for sensitive items when it was negotiating the rice market opening last year.

The European Union has treated Thailand unfairly, concluding consultations with the United States on a reduction of rice import duties but postponing similar discussions with Bangkok, a Commerce Ministry official from Thailand complains. Under the agreement reached with Washington, Brussels cut the import duty on US brown rice from 65 euros PMT to 42.5 euros on March 1.

S. America:

The Spanish group SOS Cuétara is negotiating the sale of its rice unit in Maxwell, California (U.S.A.) that specializes in rice drying and mill for bulk sale. The Maxwell belongs to American Rice, branch of Sos Cuétara in U.S.A.

As per Ministry of Farming Development of Panama (MIDA) rice producers from several zones in the country are affected by acarus "spinky" a plague that affects rice production. MIDA plans to facilitate loans to producers to palliate effects of the plague.

Australia:

Three-quarters of Australia’s most populous state New South Wales has been hit by drought after experiencing an “exceptionally dry” month. The state’s drought-hit areas rose from 68 to 76 % after the dry month of March which means that farmers have to delay planting of winter.

Turkey:

As reported Turkey’s rice production in 2004/05 is projected to be the highest on record, around 100.000 ha this year. It will make total production 750.000 MT.

North America:

Chicago Board of Trade rough rice futures ended slightly stronger Friday in light trading on modest speculative support. CBOT May rice finished $0.03 per cwt higher at $7.38 per cwt and July rice ended $0.035 per cwt higher at $7.57 per cwt.