which for whatever reason have been producing rice which is free of chalk making lifeextraordinary difficult for those in the U.S. rice trade.The U.S. is not alone in struggling to market its rice. The Thai rice scheme is expected to beextended until June and no one is quite sure how the Thai government will market all th
e rice it‘s
buying. Locals say that either the government will have to sell it to the domestic market,possibly taking financial losses and depressing local rice prices, or look to more aggressivelymake government-to-government sales. However, major rice buying nations have increasingnumbers of origins to pick from with India and Myanmar returning to the international stage. An
official at the Thai Rice Exports Association has even said that if Thailand doesn‘t get its rice
exporting engine returned to good health
being competitive prices
than Myanmar may return
as the world‘s largest rice exporter.
Myanmar currently only exports about 750,000 tons of rice
per year now, less than a tenth of Thailand‘s exports. However, the warning does not fall on
ears. Myanmar was once the world‘s largest rice exporter back in the 1960s, exporting about 2million tons a year at the time, showing that fortunes can reverse and Thailand‘s spot as theworld‘s largest rice exporter is not fixed. Declining market sh
are will leave Thailand with lesspricing power on the world market, something it is trying desperately to grasp more of.
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The Intergovernmental Group on Rice
The FAO Intergovernmental Group (IGG) on Rice represents a forum for intergovernmental consultation and exchange on trends in production, consumption, trade, stocks and prices of rice, including regular appraisal of the world rice situation and short term outlook. The Group,under FAO auspices, considers changes in national rice policies and examines their international effects as pertaining to the current and prospective rice situation. The groupmeets once in each biennium. Recent sessions have been held jointly with the IGG on grains.The last Joint Session was held in May 2007 in Istanbul with the collaboration of theGovernment of Turkey. http://www.fao.org/es/ESC/en/15/70/highlight_516.html
Thai, Pak Rice Sellers Lower Some of Their Quotes; Viet, Indian Rice Sellers KeepIndications on Hold
By news desk on March 29,2012
Thai rice sellers lowered their quotes for parboiled rice by about $5 per ton today. Pak ricesellers lowered their quotes for 25% broken and parboiled rice by about $10 per ton and $5 perton respectively. Viet and Indian rice sellers kept their quotes unchanged.
Thai 5% rice is quoted about $530 - $540 per ton, about a $95 per ton premium over Viet 5%rice shown around $435 - $445 per ton. Indian 5% rice is indicated around $435 - $445 per ton,about a $30 per ton discount to Pak 5% rice shown around $465 - $475 per ton.