Fluctuating Rice MarketThis week in the rice market, there has been disappointment by refusal of Iraqis to buy at least 30,000 tons of US long grain by a tender difference of 5.7 cents only.

The world market price lowered second week in a row by 10 cents for both long grain and medium/short grain by $11.43 per cwt. Though there has been sideways movement, but maintained a lateral, up & down pattern. Volumes have decreased all week & the highest was reported at 15.60 only.

Caution has been recommended for trading rice. In other markets the Dow was 16302.77, Euro at 1.3792 against dollar and crude oil futures were at 99.55 per bbl.

Exports:

 This week the net export sales posting has been reported at 118,900 metric tons and about 49.400 tons for Mexico. Although sales were great, a difficult year is predicted for long grain.

Report was very heavy on long grain, with Mexico, El Salvador, Guatemala, Honduras, about total of 60,700 tons.  long grain milled and brown sales totaled 42,200 tons, with Haiti and Saudi Arabia (parboiled) taking 39,300 tons between, followed by Canada at 1,100 tons (500 tons milled and 600 tons brown), and Costa Rica with 300 tons.  Medium/short grain sales were weak, with 500 tons of rough sold to Mexico, 100 tons of brown sold to Jordan, and 15,500 tons of milled taken primarily by Japan (13,600 tons), Israel (700 tons), and Canada (400 tons)

Export shipments were also significant at 78,500 tons.  Long grain rough to Honduras, Guatemala, and Mexico totaled 23,500 tons.  Long grain milled and brown grossed 48,900 tons, with Iraq loading out 29,700 tons, Haiti 14,300 tons, Canada 1,800 tons milled and 600 tons brown, and Mexico 1,400 tons.  Medium/short milled and brown consignments were light at 6,300 tons, with Jordan taking 2,000 tons of milled and 100 tons of brown, Taiwan shipping 1,000 tons, Canada 800 tons of milled and 200 tons of brown, and Japan taking 600 tons milled.

Asia’s finished this week with minor changes from last week’s quotes.  This figure is Fluctuating rice market.Thai 100% Grade B was called $405 per ton fob vessel for old crop and $420 per ton for new crop.  Thai parboiled is at $410 per ton.  Viet 5% milled was better at $395 per ton.  Pakistan finished the week with 5% milled at $405 per ton; the last quote we have on parboiled is $425 per ton.  India’s prices remained stable, with 5% milled at $425 per ton and parboiled at $410 per ton.

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