IKAR in Mass Media

Russia's Rice Exports May Rise on Large Crop, FAO and Ikar Say

21 февраля 2012 года

Feb. 17 (Bloomberg) -- Russia's rice exports may start to compete more for business in Egypt and other Middle Eastern countries following a "large" crop, the Rome-based United Nations Food and Agriculture Organization said.

Russia's rice crop of 1.05 million metric tons in 2011, near its record 1.06 million tons in 2010, according to the State Statistics Service data. The country sent nearly half of its rice exports, or 12,600 tons, to Egypt in January, the Moscow-based Institute for Agricultural Market Studies, or Ikar, said on its website Feb. 15.

"Egypt, as well as other countries in the Near East could become growing outlets for Russian exporters," Concepcion Calpe, senior economist and secretary of the Intergovernmental Group on Rice Trade and Markets Division at FAO, said by e-mail from Rome yesterday.

"A large output in the Russian Federation has allowed the country to compete with other traditional exporters of japonica and medium grain rice and to export relatively large amounts," Calpe said. Japonica, or Japanese rice, is a short-grain variety. Egypt is expected to import 100,000 tons of rice this year, according to the FAO.

"Imports could be much larger than currently anticipated, especially if the domestic rice traders/millers insist in keeping their prices high," he said.

Irina Glazunova, Ikar's rice analyst, confirmed the sales to Egypt by phone from Moscow today.

"Egypt can easily buy from 20,000 to 30,000 tons of rice from Russia, according to estimates by our producers in the southern Krasnodar region who are in talks with buyers," she said.

Rice Crop Forecast

Russia's 2012 rice crop is expected to be between 1.05 million tons and 1.1 million tons, according to Ikar. The country started to export rice to Egypt in the season that started July 1, Dmitry Rylko, Ikar's director, said today by phone from Moscow.

Russia's future as a rice supplier will depend on ``continued support given by the Russian Government to the sector and the international situation,'' Calpe said, adding Australia's return to the market after years of problems will increase competition.

Source: Bloomberg | #cereal | Comments: 0 Views: 78

There are no comments yet. Be the first!

Only authorized users can comment.