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19th Jun 2021

China and Philippines continue to be the world's top rice importers

According to USDA, China’s projected rice import is 3.2 MM MTS.

 

rice importAccording to the data from the US Department of Agriculture (USDA) Foreign Agricultural Service, China and Philippines are set to be the world's top rice importers in 2021. In USDA's most recent report on world rice production, China is still expected to be the world's top rice importer, with an estimated rice import of 3.2 MM MTS. While Philippines is estimated to import 2.1 MM MTS of rice. Both rice importing countries were originally projected to have lower rice import requirements for 2021 at 2.9 MM MTS for China and 2 MM MTS for the Philippines.

After 2 years, Russia has ended its ban on the import of rice from Pakistan. A move that can have an advantage to rice exporters from Pakistan. Pakistan exported roughly 35,000 MTS of rice and other grains worth $40-50 MM each year to Russia until 2019. According to the Ministry of Food Security Department of Plant Protection (DPP) of the Quarantine Division, Russia has ended the ban on the import of rice from Pakistan from 11th June 2021. Originally, the Russian National Plant Protection Organization (NPPO) has permitted the import from four rice companies – two from Karachi, one from Lahore, and one from Chiniot. The authorization to other rice companies shall be subject to virtual verification by DPP.

Thailand's 5 percent broken rice export prices increased to $455-$484 per MTS from the previous week’s $457-$468 per MTS. One rice trader said that one of the reasons for the export price to increase is the uptick of higher freight rates even though the rice export demand was low. One rice exporter also said that the market is subdued now primarily because of the freight rates and the shortages of vessels. He also added that the minor strengthening of the Thai baht against the US dollar recently also played a minor part in the export rice price increase.

Rice TradeVietnam’s 5 percent broken white rice export prices decreased to $480-$485 per MTS from the previous week’s $485-$490 per MTS. One rice exporter said that despite the minor decrease in rice export prices, importers are shifting to look for rice from Thai exporters who are offering even reduced prices. Elevated freight fees remained to hinder the signing of new contracts.

Indian Parboiled rice markets retained a bearish outlook due to container availability and average domestic rice demand. Indian parboiled rice was seen to be in demand for West African as well East African destinations for the last week. Indian White Rice markets witnessed a bullish tone in the long-grain varieties. Swarna white rice market continued to be bearish with limited demand for Southeast Asian countries.

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