CHINA, PEOPLES REPUBLIC OF, April 14, 2004 -- China's average domestic rice price has risen about 50% compared with fall 2003 due to reduced supply and transportation bottlenecks in Northern China. In response to the price increase, the government started auctioning Northern rice stocks. As a result of the particular shortage of rice in the south, China's rice imports in 2004 are forecast to reach 1 MMT, above post's previous estimate of 270,000 MT. China's total rice consumption remains constant as rising incomes lead to more consumption of meats and oil. The following report revises the PSD table submitted in post's most recent Grain and Feed Report (CH4005).

KOREA, REPUBLIC OF, April 14, 2004 -- Raw sugar imports are expected to increase marginally in MY 2004/05 in response to improving demand from the soft drink sector and continued strength in refined sugar export demand from China. Increasing international corn prices could reduce the competition Korean sugar refiners face from high fructose corn syrup manufacturers in MY 2004/05.

UKRAINE, April 14, 2004 -- Ukraine's MY 2004/2005 beet sugar production is forecast to continue on the downward trend begun in the early 1990s, reflecting low profits. Rising domestic sugar consumption coupled with export opportunities provided by Free Trade Agreements with other FSU countries should stimulate higher imports of raw cane sugar in MY 2004/2005 as compared with the current marketing year.

RUSSIAN FEDERATION, April 14, 2004 -- Sharp increases in consumer incomes and expanding tourism are creating a boom in Russia's HRI sector, with total sales in 2002 up by 28 percent. However, further expansion is expected as the average Russian consumer spends only seven percent of total food expenditures on meals away from home. Buoyed by the growth in the HRI sector, imports of consumer-oriented food products also increased sharply in 2002 - up 21 percent to $5.6 billion. Growing consumer demand and favorable changes in Euro/Dollar and Ruble/Dollar exchange rates are creating opportunities for a wide range of U.S. food and beverage products.

RUSSIAN FEDERATION, April 14, 2004 -- Five straight years of strong economic growth (7.3 percent in 2003) and consumer incomes that are increasing at an even faster rate have helped boost domestic consumption of fish and seafood products in Russia. At the same time, stagnant local production helped push imports of fish and seafood products to more than $377 million in 2002 - an increase of nearly forty percent. Growing consumer demand for more variety is creating opportunities for a wide range of products. The following products represent the best opportunities for U.S. suppliers: salmon, hake, herring, Alaska pollock, tuna, frozen octopus/squid, frozen shrimp, frozen crabs, oysters, scallops, mussels, lobster, and other specialty products.