Rice Imports and Exports to Increase

In the first two months of this year, China's export volume of rice rose sharply. Industry insiders estimate that in 2015 the amount of rice imports will remain high. And because the international rice export market is increasingly fierce, each country competes to promote rice stocks. In the short term, it’s difficult to rise sharply for international rice prices.

Expanding rice price difference at home and abroad

According to data recently released by China General Administration of Customs, China exported 15,120 tons of rice in February, 19,312 tons of rice in January, total exports of these two months reached 34,432 tons, an increase of 42.4%, compared with the cumulative 24,182 tons last year.

Industry insiders estimate that in 2015, China's rice import volume may still be more than 2.5 million tons. The minimum purchase price of rice in 2015 is as same as the last year’s price; and the international rice export market will remain very intense competition, recently, the Thai government has made it clear that in 2015 about 10 million tons of rice stocks will be promoted, other major rice producing countries such as Cambodia also increase rice exports, international rice prices are less likely to rise sharply.

It is noteworthy that, recently, the domestic and international rice difference expands. Currently, C&F price of Thai 5% broken rate of rice exporting to the Chinese port is $ 426 / ton, cost to port is 3139 yuan / ton; C&F price of Vietnamese 5% broken rate of rice to the Chinese port of C & F price $ 360 / ton, cost to port is about 2668 yuan / ton. The price difference from the indica rice in southern China is 760 yuan / ton to 1250 yuan / ton.

After March, the reserve rice in the South will enter the rotation period, and the main storage variety is indica, plus parts of last year's rotation task has not been completed, it is expected to increase in the short term supply of indica rice, rice last year’s rice price falling down, coupled with low-quality rice price downward in recent months, thus the rice price difference expands for several months, imported rice volume will also remain high. (www.chinainout.com)