Asia's rice supply expected to improve<\/p>\n
SINGAPORE (Reuter): Asia's rice supply crunch is likely to end
\nby early 1996 on expectations of good harvests in Thailand,
\nVietnam and other major producer countries, traders said
\nyesterday.<\/p>\n
Crop woes have forced China, Indonesia, the Philippines,
\nBangladesh, Nepal and North Korea to turn to imports, pushing
\ninternational prices higher, they added.<\/p>\n
But traders polled by Reuters said Asia's rice situation,
\nworsened by tight supplies in top exporting countries such as
\nThailand and Vietnam, was likely to turn around by early 1996
\nwhen the new crops are harvested.<\/p>\n
\"All crops in Asia are expected to be good,\" one senior
\nSingapore rice trader said. \"Farmers are encouraged by the high
\nprices. The monsoon is also reasonably good.\"<\/p>\n
Traders said good harvests are expected in Pakistan, India,
\nBurma, Thailand and Vietnam starting in November.<\/p>\n
\"We may see some bearish effect on the market from November
\nonwards,\" another trader said.<\/p>\n
Thai benchmark rice prices are hovering around US$365 a ton
\nfreight on board from Bangkok, up by $15 from 10 days ago. The
\nbenchmark price stood at $255-$266 a ton a year earlier on the
\nback of strong international demand.<\/p>\n
Traders said they felt prices could stay firm at least until
\nthe new crop season.<\/p>\n
\"Until then, the supply situation is very tight with two large
\nbuyers, Indonesia and China, in the market,\" a trader at a large
\ninternational house said. \"I certainly see more upside potential
\nfor the market for the rest of the year.\"<\/p>\n
Floods in China and drought in the Philippines and other
\nproducer countries have cut Asian rice supplies sharply.<\/p>\n
China has so far taken at least one million tons of rice from
\nVietnam and another 800,000 tons from Thailand. Industry experts
\nsaid Beijing could import at least two million tons for the whole
\nof 1995.<\/p>\n
Indonesia, until now self-sufficient in rice, has contracted
\nnearly one million tons of mainly Indian rice up to November.<\/p>\n
But congestion at Indian ports and other problems have
\nthreatened to delay or even cancel some of the outstanding
\nshipments, traders said.<\/p>\n
Some regional traders said China, Indonesia and Bangladesh
\nhave not completed their buying requirements.<\/p>\n
\"I see them in the market up to the first quarter of next
\nyear,\" a Bangkok trader said.<\/p>\n
Vietnam, a major exporter, has imposed a ban on exports to get
\nover current shortages. Traders said the ban was not expected to
\nbe lifted until the new crop arrives.<\/p>\n
North Korea has turned to Japan and South Korea for rice.<\/p>\n
The Philippines has ordered 250,000 tons of rice from
\nThailand, China, Vietnam, India and Japan, but only some 35,000
\ntons have arrived.<\/p>\n
Traders in the Philippines said the shipment delay had sent
\nlocal prices soaring and sparked demand for Agriculture Secretary
\nRoberto Sebastian to resign.<\/p>\n
Traders said shortages in Asia were unlikely to trigger
\nimports of U.S. rice due to steep freight charges.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/asias-rice-supply-expected-to-improve-1447893297",
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