BRAZIL: Due to Carnival vacations, the Brazilean market performed just few operations. However, next week larger volumes of paddy rice are expected to be traded.
According
to an IRGA report dated February 24, just 8,662 hectares were harvested in
Rio Grande do Sul, i.e., 0.91% of the rice planted area to be harvested in
this state. Threshed lots yields' are good, which threw a 6,000 kg
average: a sound development riched by rice sowed early.
Average
yield estimated by IRGA for the state or Rio Grande is at about 5,596 kg per
hectare, resulting in a total estimated production of 5,326 million tons
in that state.
Low temperatures registered during last days adversely affected crops, as almost half rice planted area is still in blooming stage.
ASIA
Thailand: Thai milled rice 100% B was traded at US$200 - US$202 per FOB ton.
India:
Indian milled rice 25% broken was offered at US$151 - US$153 per FOB ton.
Although prices are still competitive, purchasers have not demonstrate
much interest on Indian rice basically due to lack of wagons availability
for transporting cereals. Many operators say that wagons' demand
will be reduced during next month, thus, increasing its availability, what
could improve Indian rice demand.
The Indian government annual subsidy program for the 2002-2003 period increased in 20.3% from the 2001-2001 period program. According to the Pre-Budget Economic Survey, the Indian government decision for increasing the Support Minimum Price (MSP) during the past, addressed to large rice and wheat supply, resulting in scarcity of agricultural products. Such survey suggested a MSP freezing for rice and wheat in present levels, but as the agricultural sector accounts for the 30% to the GDP, it will be difficult to perform such reform.
Pakistan: Pak prices are showing a bullish tendency due to exporters' efforts for completing shipments before the Irak war begins. Pak rice 25% broken was traded at US$159 - US$161 per FOB ton.
UNITED STATES
The
U.S. Rice Federation launched the
“Rice Shop Network” promotion program, which includes an agreement
with 44 operators in Japanese shops that will sell rice from the U.S.,
accomplishing the "origin certification" requirement. On
the other hand, the U.S. is the main exporting country to Japan: almost 322,000
ton, which means a 47.4% of that market; moreover, the U.S. industry is
trying to aware the Japanese consumer on the U.S. mark.
After a successful sales week, the USDA report informed a week with sales of about 15,500 tons. Rice total exports during the 2002-2003 (February 20, 2003) period are at 2,910,500 tons, i.e., an increase of 38% from the 2001-2002 period.
Last
updating 07-March-2003
orecalde@sica.gov.ec; farevalo@sica.gov.ec
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