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USDA Rice Outlook


17 January 2013

USDA Rice Outlook - January 2013USDA Rice Outlook - January 2013


USDA Rice Outlook

U.S. 2012/13 Rice Crop Estimated At 199.5 Million Cwt

The only supply side revision this month to the 2012/13 U.S. balance sheet was a 0.9- million cwt increase in the U.S. crop forecast to 199.5 million cwt, a result of a higher yield. At 7,449 pounds per acre, the 2012/13 yield is the highest U.S. rice yield on record, with record yields reported for Arkansas, Louisiana, Missouri, and Texas.

On the use side, U.S. exports were raised 1.0 million cwt to 106.0 million, with long- grain milled rice accounting for all of the upward revision. Although total domestic and residual use remains forecast at 125.0 million cwt, there was a 1.0-million cwt switch from medium- and short-grain to long-grain. On balance, these revisions resulted in a slight drop in the ending stocks forecast to 30.1 million cwt.

The 2012/13 season-average farm price (SAFP) for U.S. long-grain rice remains forecast at $13.70-$14.70 per cwt, up from $13.40 per cwt a year earlier. The combined medium- and short-grain 2012/13 U.S. SAFP is forecast at $16.00-$17.00 per cwt, down from $16.50-$17.50 last month, but little changed from $16.50 a year earlier.

Global rice production for 2012/13 is forecast at a record 465.6 million tons (milled basis), fractionally above last month’s forecast and up .6 million tons from a year earlier. Production forecasts for 2012/13 were raised for Argentina, Brazil, Guyana, and Pakistan, but lowered for Cambodia, the Dominican Republic, Haiti, and Russia. Global ending stocks for 2012/13 are projected at 102.5 million tons, down fractionally from last month’s forecast and 3.0 million tons below a year earlier. Ending stocks forecasts were lowered this month for India, Japan, Thailand, and Vietnam.

Total calendar year 2013 global rice trade is forecast at 37.4 million tons, up 1.25 million tons from last month’s forecast, but more than 4 percent below the year-earlier record. Import forecasts were raised for Cote d’Ivoire, Ghana, Nigeria, and Senegal. Export forecasts were raised for Argentina, India, and Vietnam.

Prices for most grades of Thailand’s higher quality white milled-rice increased slightly over the past month, mostly due to tighter exportable supplies. Price quotes from Vietnam have also increased slightly over the past month, mostly due to 2012’s record pace of shipments. U.S. prices for long-grain milled rice have also increased over the past month, mostly due to a fast pace of sales. In contrast, prices for California milled rice have declined over the past month, as new sales have been slow.

Domestic Outlook

U.S. 2012/13 Rice Crop Estimated At 199.5 Million Cwt

The 2012/13 U.S. rice crop is estimated at 199.5 million cwt, up 0.9 million cwt from the previous estimate and 8 percent larger than a year earlier. This month’s upward revision is the result of a higher yield. At 7,449 pounds per acre, the 2012/13 average yield is 32 pounds above the previous estimate and 382 pounds above last year. The 2012/13 yield is the highest on record. Harvested area was increased 1,000 acres to 2.68 million acres, up 2 percent from a year earlier.

The 2012/13 U.S. long-grain crop estimate was raised 4.3 million cwt to 144.2 million cwt, an increase of 24 percent from a year earlier. At a record 7,285 pounds per acre, the long-grain average yield is up 197 pounds from the previous estimate and 594 pounds above a year earlier. Long-grain harvested area is estimated at 1.98 million acres, up 6,000 acres from the previous estimate and 14 percent larger than a year earlier. Almost all U.S. long-grain rice is grown in the South.

In contrast, the combined medium- and short-grain 2012/13 crop estimate was lowered 3.4 million cwt to 55.3 million cwt, 19 percent below a year earlier. The medium- and short-grain yield was lowered 425 pound per acre to 7,914 pounds, still up more than 1 percent from a year earlier. Combined medium- and short-grain harvested area is estimated at 699,000 acres, down 5,000 acres from the previous estimate and more than 20 percent below a year earlier. California accounts for the bulk of the U.S. medium- and short-grain crop.

Harvested area estimates for 2012/13 were raised slightly this month for Arkansas and Mississippi, but lowered slightly for California and Louisiana. Harvested area estimates are unchanged for Missouri and Texas. Average yields for 2012/13 were revised up this month for Arkansas, Mississippi, Missouri, and Texas, but lowered for California and Louisiana. Texas’ average yield was revised up 220 pounds per acre, while California’s average yield was reduced 190 pounds. Remaining yield revisions were smaller. Production forecasts were raised this month for all states except California and Louisiana, with Arkansas accounting for the bulk of the upward revision.

In 2012/13, harvested area was smaller than a year earlier in all reported States except for Arkansas and Missouri. At nearly 1.29 million acres, harvested area in Arkansas was up more than 11 percent from a year earlier, but still the second smallest since 1996/97. Missouri’s 2012/13 rice area is estimated at 177,000 acres, an increase of 49,000 acres from a year earlier. In 2011/12, severe early season flooding reduced and delayed plantings in both Arkansas and Missouri.

Harvested area in Texas in 2012/13 dropped 46,000 acres from last year to 134,000 acres, as the State instituted water restrictions due to drought. Mississippi’s 2012/13 harvested area was lowered 28,000 acres to 129,000 acres, the lowest since 1977/78. Louisiana’s harvested area declined 21,000 acres in 2012/13 to 397,000 acres. In California, harvested area in 2012/13 is estimated at 556,000 acres, down 24,000 acres from last year.

Average Yields Estimated Higher in 2012/13 In All States Except for California

Average yields in 2012/13 were higher than a year earlier in all reported states except for California, with record yields reported for Arkansas, Louisiana, Missouri, and Texas. At 8,370 pounds per acre, Texas’ average yield was up 1,180 pounds from last year and the highest yield ever reported for a southern State. Arkansas’ 2012/13 yield is estimated at 7,470 pounds per acre, up 710 pounds from last year. Missouri’s average yield is estimated at 6,990 pounds per acre, up 500 pounds from a year earlier. Louisiana’s average yield of 6,430 pounds per acre is 110 pounds above a year earlier. Mississippi’s yield is up 350 pounds per acre from a year earlier to 7,200 pounds.

In contrast, California’s 2012/13 average yield declined 240 pounds from a year earlier to 8,110 pounds. The 2012/13 California crop was planted late due to a wet spring and experienced extremely high temperatures in mid-August. The bulk of the harvest was stretched out or delayed for many growers.

Production in 2012/13 declined in all reported states except for Arkansas and Missouri. At 96.0 million cwt, Arkansas’ production is 23 percent larger than a year earlier, a result of both expanded area and a record yield. Missouri’s production of 12.4 million cwt is up 49 percent from a year earlier, also due to expanded area and a higher yield. Production was hindered by adverse weather in both States in 2012/13.

In contrast, Mississippi’s rice production in 2012/13 dropped 14 percent from a year earlier to 9.3 million cwt, a result of smaller area. Despite a record yield, production in Texas declined 13 percent to 11.2 million cwt due to a substantial decline in area. Louisiana’s 2012/13 production dropped more than 3 percent to 25.5 million cwt as smaller plantings more than offset a record yield. In California, production dropped 7 percent in 2012/13 to 45.1 million cwt, a result of both smaller area and a weaker yield.

Total U.S. Rice Supplies in 2012/13 Projected to be Up 3 Percent

Total supplies for 2012/13 are forecast at 261.1 million cwt, up 0.9 million cwt from last month’s forecast and more than 3 percent larger than a year earlier. A larger crop and increased imports are projected to more than offset a much smaller carryin. By class, long-grain supplies are projected at 186.4 million cwt, up 4.3 million cwt from last month’s forecast and 10 percent larger than a year earlier. In contrast, medium- and short-grain supplies are forecast at 72.5 million cwt, down 3.4 million cwt from last month’s forecast and 11 percent below a year earlier.

The 2012/13 all rice carryin remains estimated at 41.1 million cwt, 15 percent below a year earlier. The long-grain 2012/13 carryin remains estimated at 24.3 million cwt, 32 percent below a year earlier. The medium- and short-grain carryin remains estimated at 14.7 million cwt, up 45 percent from a year earlier. Stocks of brokens, included in the all-rice stocks estimate, are not classified by class.

Total rice imports for 2012/13 remain projected at 20.5 million cwt, 6 percent above a year earlier and the largest imports since 2007/08. Long-grain imports remain projected at a record 18.0 million cwt, 6 percent higher than a year earlier. Thailand supplies the bulk of U.S. long-grain imports, mainly shipping its premium jasmine rice, an aromatic variety. Basmati rice from India and Pakistan accounts for most of the remaining U.S. long-grain imports. Medium- and short-grain imports remain projected at 2.5 million cwt for 2012/13, up 3 percent from a year earlier. Specialty rice from Thailand, classified as medium- and short-grain, accounts for the bulk of U.S. medium- and short-grain imports. Arborio rice from Italy accounts for most of the remainder.

U.S. 2012/13 Export Forecast Raised 1.0 Million Cwt to 106.0 Million Cwt

Total use of U.S. rice in 2012/13 is projected at 231.0 million cwt, up 1.0 million cwt from last month’s forecasts and 9 percent above a year earlier. By class, long- grain total use is projected at 169.0 million cwt, up 2.0 million cwt from last month’s forecast and 17 percent above a year earlier. Medium- and short-grain total use is projected at 62.0 million cwt, down 1.0 million cwt from last month and more than 7 percent below a year earlier. The projected year-to-year decline in medium- and short-grain total use is largely based on tighter supplies.

Total domestic and residual use of all-rice in 2012/13 remains projected at 125.0 million cwt, 13.5 percent higher than a year earlier. For long-grain, 2012/13 domestic and residual use is projected at 94.0 million cwt, up 1.0 million cwt from last month’s forecast and 21 percent larger than a year earlier. Medium- and short- grain domestic and residual use is projected at 31.0 million cwt, down 1 million cwt from last month and 4 percent below a year earlier. The shifts in 2012/13 domestic use by class were largely based on changes in supplies by class.

Total exports of U.S. rice in 2012/13 are projected at 106.0 million cwt, up 1.0 million cwt from last month’s forecast and more than 4 percent above a year earlier. The upward revision was based on Census shipment data through October, information from U.S. Export Sales through early January, and expectations regarding sales and shipments for the remainder of the market year. Latin America accounts for most of this month’s upward revision in the U.S. 2012/13 export forecast.

By type, U.S. rough-rice exports remain projected at 34.0 million cwt, 4 percent larger than a year earlier. Latin America is expected to remain the largest market for U.S. rough-rice exports, with Mexico the biggest buyer. Milled rice exports (combined milled- and brown-rice exports converted to a rough basis) are projected at 72.0 million cwt, an increase of 1.0 million cwt from last month’s forecast and 4.5 percent above a year earlier. Northeast Asia, the Caribbean, the Middle East, and Canada are the largest markets for U.S. milled rice exports.

By class, long-grain exports are projected at 75.0 million cwt, 1.0 million cwt above last month’s forecast and 12 percent above a year earlier. South America has been a stronger buyer in 2012/13 than a year earlier. Medium- and short-grain exports remain projected at 31.0 million cwt, 11 percent below the year-earlier near-record. Some of the projected decline is based on stronger competition with Australia and Egypt.

U.S. ending stocks of all-rice in 2012/13 are projected at 30.1 million cwt, down slightly from last month’s forecast and 27 percent below a year earlier. The stocks- to-use ratio is calculated at 13.0 percent, down from 19.4 percent in 2011/12. By class, the 2012/13 U.S. long-grain carryout is projected at 17.4 million cwt, up 15 percent from last month’s forecast, but 28 percent below a year earlier. The long- grain stocks-to-use ratio is calculated at 10.3 percent, down from 16.8 percent a year earlier. The medium- and short-grain carryout is projected at 10.5 million cwt, 19 percent below last month’s forecast and almost 29 percent below a year earlier. The medium/short-grain stocks-to use ratio is calculated at 16.9 percent, down from 21.9 percent in 2011/12.

Based on information from the Rice Stocks report, U.S. rice stocks on December 1, 2012, are estimated at 157.4 million cwt (combined stocks of rough-rice and milled- rice on a rough-rice basis), up 1 percent from a year earlier. There were significant differences in year-to-year changes in stocks by class. Long-grain stocks on December 1 are estimated at 102.3 million cwt, up almost 6 percent from a year earlier. In contrast, combined medium- and short-grain stocks on December 1 are estimated at 51.4 million cwt, a decrease of nearly 8.5 percent from a year earlier. Stocks of brokens, not reported by class, are estimated at 3.7 million cwt, an increase of 34 percent from a year earlier.

Among reported states, Arkansas accounts for all of the increase in U.S. rice stocks on December 1. At 77.7 million cwt, rice stocks in Arkansas on December 1, 2012, were 12 percent larger than a year earlier. In contrast, stocks are estimated smaller than a year earlier in California, Louisiana, and Texas. At 42.7 million cwt, rice stocks in California on December 1, 2012, were down almost 1 percent from a year earlier. In Louisiana, stocks on December 1 are estimated at 15.2 million cwt, a 19- percent decline from a year earlier. Texas’ rice stocks on December 1, 2012, are estimated at 8.9 million cwt, down 16 percent from a year earlier. December 1, 2012, rice stocks in Mississippi and Missouri are not reported.

U.S. 2012/13 Medium- and Short-GrainSeason-Average Price Forecast Lowered

The 2012/13 season-average farm price (SAFP) for U.S. long-grain rice remains forecast at $13.70-$14.70 per cwt, unchanged from last month, but up from $13.40 per cwt a year earlier. The higher U.S. long-grain price in 2012/13 is primarily due to stronger export demand and expectations of a tight U.S. ending stocks situation. However, the price increase is limited by weaker global trading prices.

The combined medium- and short-grain 2012/13 U.S. SAFP is forecast at $16.00- $17.00 per cwt, down from $16.50-$17.50 last month, with the midpoint matching the $16.50 per cwt a year earlier. Greater competition from Egypt and Australia limits any price increase due to smaller U.S. supplies.

In late December, NASS reported a mid-December U.S. long-grain rough-rice price of $14.20 per cwt, up 20 cents from the revised November estimate. The November price was lowered 20 cents from the mid-month estimate to $14.00. For combined medium- and short-grain rice, the mid-December NASS price was reported at $16.10 per cwt, up 10 cents from the revised November price. The November price was lowered $1.30 from the mid-month estimate to $16.00.

International Outlook

Production Forecasts for 2012/13 Raised for Argentina, Brazil, Guyana, and Pakistan

Global rice production for 2012/13 is forecast at a record 465.6 million tons (milled basis), fractionally above last month’s forecast and up 0.5 million tons from a year earlier. Global rice area is projected at 158.4 million hectares, 0.6 million hectares below the year earlier record, with India accounting for most of the year-to-year decline. The average global yield is forecast at a record 4.38 tons per hectare, fractionally above 2011/12.

There were several upward revisions to 2012/13 production forecasts this month, mostly in South America. First, Brazil’s production was raised 0.34 million tons to 8.16 million tons based information from the Governments reporting agency, CONAB, indicating slightly more area and a much higher yield. Some of the yield strength is the result of a larger share of the crop being grown on irrigated fields, located mostly in the south. Brazil’s crop is expected to be up more than 3 percent from a year earlier.

In nearby Argentina, the 2012/13 production forecast was raised 130,000 tons to 1.04 million, as result of a 30,000-hectare boost in area to 230,000 hectares. Rice production in Argentina is expected to be up 2 percent from a year earlier. Guyana’s 2012/13 production forecast was raised 10,000 tons to a record 420,000 tons based on a larger than expected second crop that boosted the average yield. Outside South America, Pakistan’s 2012/13 crop forecast was raised 100,000 tons to 6.8 million based on recommendations from the USDA office in Islamabad indicating a slightly higher area estimate. The U.S. 2012/13 crop estimate was raised slightly to 6.36 million tons based on a higher yield. Despite the upward revision, area is still down year-to-year due to poor early season rains, low irrigation reservoirs, and cool temperatures.

These upward revisions were partly offset by 5 reductions. First, Cambodia’s 2012/13 production forecast was lowered 275,000 tons to 4.23 million tons based on smaller area and a weaker yield. Cambodia’s main-season crop, currently being harvested, experienced dryness that was followed by flooding. Production is forecast slightly below a year earlier. The Dominican Republic’s 2012/13 production forecast was lowered 63,000 tons to 510,000 tons based on information from the Ministry of Agriculture indicating smaller area. Russia’s 2012/13 crop was lowered 45,000 tons to 685,000 tons based on a 15,000-hectare drop in area to 185,000 hectares. The revisions are from the Russian Federal State Statistics Service. Russia’s production is nearly unchanged from a year earlier. The Philippines 2012/13 production forecast was lowered 10,000 tons to 10.99 million based on slightly smaller area reported by the USDA office in Manila. Finally, Haiti’s 2012/13 production was lowered 4,000 tons to 62,000 tons based on a lower yield that was caused by tropical storms.

Global rice use (including a residual component) for 2012/13 is projected at a record 468.6 million tons, virtually unchanged from last month’s forecast, but more than 2 percent larger than a year earlier. The consumption forecast was lowered this month for India, but raised for Nigeria. On a year-to-year basis, Bangladesh, Burma, China, India, Indonesia, Sub-Saharan Africa, Thailand, the United States, and Vietnam account for most of the expected increase in global domestic use.

Global ending stocks for 2012/13 are projected at 102.5 million tons, down fractionally from last month’s forecast and 3.0 million tons below a year earlier. Ending stocks forecasts were lowered this month for India, Japan, Thailand, and Vietnam, but raised for Brazil, China, and Pakistan. Despite the downward revision, global ending stocks in 2012/13 are the second highest in a decade. On a year-to-year basis, stocks are projected to be smaller in India, Indonesia, the United States, and Vietnam, but higher in China, Pakistan, and Thailand. The global stocks-to-use ratio for 2012/13 is calculated at 21.9 percent, down from 23.0 percent a year earlier.

Global Trade in 2012 Estimated At a Record 39.1 Million Tons

Total calendar year 2013 global rice trade is forecast at 37.4 million tons, up 1.25 million tons from last month’s forecast, but more than 4 percent below the year- earlier record. There were several upward revisions in 2013 import forecasts this month, with West Africa accounting for the bulk of the upward revisions. First, Nigeria’s import forecast was raised 450,000 tons to 2.7 million tons based on recommendation from the USDA office in Lagos. Despite the upward revision, imports remain 700,000 tons below the year-earlier record. Second, Ghana’s 2013 import forecast was raised 200,000 tons to 600,000 tons based on a record pace of deliveries in 2012. Third, C?te d’Ivoire’s 2013 import forecast was increased 200,000 tons to 1.15 million tons, also based on a very strong delivery pace in 2012. Fourth, Senegal’s 2013 import forecast was boosted 180,000 tons to 1.0 million tons based on record imports in 2012 and large available supplies from India, its major supplier.

There were 3 upward revisions in 2013 outside West Africa. First, Haiti’s 2013 import forecast was raised 75,000 tons to 400,000 tons based on a recent Memorandum of Understanding with Vietnam to supply rice. Second, Russia’s 2013 import forecast was raised 20,000 tons to 220,000 tons based on stronger trade in 2012 and a weaker crop. Finally, the Dominican Republic’s 2013 importwas raised 15,000 tons to 35,000 tons based on a smaller crop forecast.

Export forecasts for 2013 were revised up for several countries this month. First, India’s 2013 export forecast was raised 1.0 million tons to 7.5 million tons based on information from the USDA office in New Delhi. Despite the upward revision, India’s exports are still 2.75 million tons below the year earlier record. Second, Vietnam’s 2013 export forecast was raised 400,000 tons to 7.4 million based on recommendations from the USDA office in Hanoi. Like India, Vietnam’s exports in 2013 are projected to be below the 2012 record. Third, Argentina’s 2013 exports were raised 125,000 tons to 650,000 tons based on a larger crop. Finally, Guyana’s 2013 export forecast was raised 50,000 tons to 300,000 tons based on a larger crop and stronger exports in 2012.

These upward revisions in 2013 export forecasts were partially offset by 2 reductions. First, Pakistan’s export forecast was lowered 200,000 tons to 3.8 million tons based on recommendations from the USDA office in Islamabad indicating lower basmati exports. And second, Cambodia’s 2013 export forecast was lowered 125,000 tons to 825,000 tons on based on a smaller crop.

The 2012 global rice trade estimate was increased .06 million tons to a record 39.1 million tons, up 8 percent from a year earlier. The substantial trade volume reported in 2012 was largely the result of record shipments from India and Vietnam and historically large imports by China and West Africa. Imports in 2012 were record high for China, C?te d’Ivoire, Ghana, Nigeria, and Senegal. Rice from India and Vietnam was competitively priced in 2012, a major factor driving the large purchases.

There were 4 upward revisions to the 2012 import estimates. First, Nigeria’s 2012 import estimate was raised 200,000 tons to a record 3.4 million based on trade data and recommendation from the USDA office in Lagos. Second, C?te d’Ivoire’s 2012 import estimate was raised 150,000 tons to a record 1.45 million tons based on year-end trade data. Third, Ghana’s 2012 import estimate was raised imports 125,000 tons to a record 600,000 tons, also based on year-end trade data. Finally, Haiti’s 2012 import estimate was raised 35,000 tons to 360,000 tons, also based on year-end data.

These upward revisions were partially offset by 2 reductions. First, Japan’s 2012 imports were lowered 50,000 tons to 650,000 tons. And second, the Dominican Republic’s 2012 import estimate was lowered imports 15,000 tons to 5,000 tons. Both downward revisions were based on trade data.

On the 2012 export side, there were several upward revisions. First, Thailand’s 2012 exports were raised 400,000 tons to 6.9 million tons based on near-final year end data. Thailand’s 2012 exports remain well below the 2011 record of 10.6 million tons. Thailand is currently not price competitive in most markets. Second, India’s 2012 export estimate was raised 250,000 tons to a record 10.25 million tons based on year-end trade data. India’s exports in 2012 were almost 4.0 million tons higher than the previous record in 2007. Third, Vietnam’s 2012 export estimate was boosted 200,000 tons to a record 7.7 million tons, also based on year-end trade data. India and Vietnam were the 2 largest global exporters in 2012. Guyana’s 2012 exports were raised 55,000 tons to 285,000 tons, matching the 1997 record. C?te d’Ivoire’s 2012 export estimate was increased 15,000 tons to 25,000. Both revisions were based on year-end trade data.

These upward revisions were partially offset by 3 reductions. First, Pakistan’s 2012 exports were lowered 250,000 tons to 3.5 million tons based on information from the USDA office in Islamabad indicating lower basmati exports. Second, China’s 2012 exports were lowered 140,000 tons to 260,000 based on year-end trade data. These are the smallest exports for China since 1995. Finally, Russia’s 2012 exports were raised 20,000 tons to 220,000 tons based on year-end trade data.

Thailand’s Trading Prices Rise Slightly on Tighter Supplies

Prices for most grades of Thailand’s higher quality white milled-rice increased slightly over the past month, mostly due to tighter exportable supplies. From October 1, 2012 to January 4, 2013, the Government’s Paddy Pledging Program had received preliminary pledges of 7.7 million tons of rough-rice, twice the amount the government received during the same period last year. Prices for lower-quality rice have increased at a stronger rate.

Prices for Thailand's high-quality, 100-percent Grade B (fob vessel, Bangkok) milled rice for export were quoted at $571 per ton for the week ending January 7, up $3 from the week ending December 10. Prices for Thailand’s 5-percent brokens were quoted at $561 per ton for the week ending January 7, up $4 from the week ending December 10. Prices for Thailand's 5-percent parboiled rice were quoted at $574 per ton for the week ending January 7, up $4 from the week ending December 10.

Prices for Thailand’s brokens have increased at a stronger pace. For the week ending January 7, prices for Thailand’s A-1 Super 100-percent brokens were quoted at $537 per ton, up $9 from the week ending December 10. All price quotes for Thailand’s rice are from the Weekly Rice Price Update, reported by the USDA office in Bangkok.

Price quotes from Vietnam have also increased slightly over the past month, mostly due to 2012’s record pace of shipments. For the week ending January 8, prices for Vietnam’s 5-percent double-water-polished with 5-percent brokens were quoted at $415 per ton—up $10 per ton from the week ending December 11. Thailand’s price quotes for 5-percent brokens are currently $146 per ton above quotes for Vietnam’s 5-percent double-water-polished milled rice, down $6 per ton from a month earlier.

U.S. prices for long-grain milled rice have also increased over the past month, mostly due to a fast pace of sales. For the week ending January 8, prices for high- quality Southern long-grain rice (No. 2, 4-percent brokens, bagged, free alongside vessel, U.S. Gulf port) were quoted at $617 per ton, up $22 from the week ending December 11. U.S. long-grain rough-rice (bulk, fob vessel, New Orleans) remained quoted at $360 per ton for the week ending January 8, unchanged since early October.

In contrast, prices for California milled rice have declined over the past month, as new sales have been slow. California’s package-quality medium-grain rice (sacked) for domestic sales was quoted at $750 per ton for the week ending January 8, down $33 from the week ending December 11. Export prices (for 30 kg bags, fob vessel) for California milled rice were also quoted at $750 per ton for the week ending January 8, down $65 from the week ending December 11. Price quotes for Vietnam, U.S. long- and medium-grain milled-rice prices, and U.S. rough-rice export prices are from the weekly Creed Rice Market Report.

January 2013

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