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Export prices for Thai rice further declined this week $5.00-9.00/ton across the board due mainly to inactive export demand and slightly depreciated Thai currency.
MY 2015/16 rice exports are revised lower to 8 million tons based on the current pace of exports.
Export prices were steady due to quiet trading during the Luna New Year holidays. Also, traders are awaiting the Government stocks tender on February 16-17.
China’s huge grain stocks continue to impose severe pressures on China’s production and trade policies.
MY2015/16 rice production is further revised down due to lower-than-expected off-season rice planting caused by limited irrigation availability.
Post estimates wheat production for 2015/16 at 10.8 million metric tons (MMT), 300,000 tons higher than USDA.
Export prices increased further due to current tight domestic market supplies and concern about drought.
China notified the WTO of the National Food Safety Standard of Vegetable Protein for Food Industry (an update of the GB/T 20371), issued by the National Health and Family Planning Commission...
The report provides trade data on Vietnam's monthly rice exports by grades and destinations, and weekly quotes for export rice by grades.
For marketing year (MY) 2015/16 (May to April) the rice area and production forecast is unchanged at 11.8 million HA and 34.6 million metric tons (MMT).
South Africa is battling one of the worst droughts ever recorded limiting the production of grains.
The Korean government announced that it will seek to mitigate overproduction of rice through measures including reduction of area for rice cultivation to 711,000 Ha by 2018, planting of other crops...