India
Rice Quotes Lower Today; Other Asia Rice Quotes Unchanged
Dec
16, 2014
India rice sellers lowered most
of their quotes by about $5 - $10 per ton today. Other Asia rice sellers kept
their quotes mostly unchanged.
5% Broken Rice
Thailand 5% rice is quoted at
around $405 - $415 per ton, about $20 per ton premium on Vietnam 5% rice shown
at around $385 - $395 per ton. India 5% rice is quoted at around $390 - $400
per ton, down about $5 per ton from yesterday and about $20 per ton premium on
Pakistan 5% rice quoted at around $370 - $380 per ton.
25% Broken Rice
Thailand 25% rice was last quoted
at around $350 - $360 per ton, on par with Vietnam 25% rice shown at around
$350 - $360 per ton. India 25% rice is quoted at around $350 - $360, down about
$10 per ton from yesterday and about $20 per ton premium on Pakistan 25% rice
quoted at around $330 - $340 per ton.
Parboiled Rice
Thailand parboiled rice is quoted
at around $405 - $415 per ton. India parboiled rice is quoted at around $375 -
$385 per ton, down about $5 per ton from yesterday and about $35 per ton
discount to Pakistan parboiled rice quoted at around $410 - $420 per ton.
100% Broken Rice
Thailand broken rice, A1 Super,
is quoted at around $330 - $340 per ton, on par with Vietnam 100% broken rice
shown at around $330 - $340 per ton. India's 100% broken rice is shown at
around $300 - $310 per ton, about $10 per ton premium on Pakistan broken
sortexed rice quoted at around $290 - $300 per ton.
Brazil
Paddy Rice Index Declines Slightly from Last Week
Dec
16, 2014
The Brazilian paddy rice index
maintained by CEPEA reached around 37.91 real per 50 kilograms as of December
15, 2014, down about 0.11% from around 37.95 real per 50 kilograms recorded on
December 8, 2014.In terms of USD per ton, the index reached around $283 per ton
on December 15, 2014, down about 3% from around $292 per ton recorded on
December 16, 2014.
Global Rice
Quotes
December 16th, 2014
Long grain white rice - high quality
Thailand 100% B grade 420-430
↔
Vietnam 5% broken 385-395 ↔
India 5% broken 390-400
↓
Pakistan 5% broken 370-380
↔
Cambodia 5% broken 460-470 ↔
U.S. 4% broken 540-550
↔
Uruguay 5% broken 595-605 ↔
Argentina 5% broken 595-605 ↔
Long grain white rice - low quality
Thailand 25% broken NQ ↔
Vietnam 25% broken 350-360 ↔
Pakistan 25% broken 330-340 ↔
Cambodia 25% broken 435-445
↔
India 25% broken 350-360
↓
U.S. 15% broken 515-525
↔
Long grain parboiled rice
Thailand parboiled 100% stxd 405-415
↔
Pakistan parboiled 5% broken stxd 410-420
↔
India parboiled 5% broken stxd 375-385
↓
U.S. parboiled 4% broken 580-590
↔
Brazil parboiled 5% broken 570-580
↔
Uruguay parboiled 5% broken NQ
↔
Long grain fragrant rice
Thailand Hommali 92% 900-910
↔
Vietnam Jasmine 515-525
↔
India basmati 2% broken NQ
↔
Pakistan basmati 2% broken NQ
↔
Cambodia Phka Mails 820-830 ↔
Brokens
Thailand A1 Super 330-340
↔
Vietnam 100% broken 330-340
↔
Pakistan 100% broken stxd 290-300
↔
Cambodia A1 Super 385-395 ↔
India 100% broken stxd 300-310
↔
Egypt medium grain brokens NQ
↔
U.S. pet food 445-455 ↔
Brazil half grain NQ
↔
All prices USD per ton, FOB vessel, oryza.com
Guyana's
2014 Rice Production Reaches Record 633,000 Tons; Up 18% from Last Year
Guyana's rice production in 2014
has reached around 633,000 tons, up about 18% from around 535,212 tons from
last year, local sources quoted the country's Agriculture Minister as saying.
The Minister noted that output from the final crop reached around 300,000 tons.
He expressed confidence that the country would be able to export over 500,000
tons of rice earning around $250 million in 2014. He noted that already 481,000
tons of rice has been exported so far this year.
Guyana exported around 394,000
tons in 2013. The government is keen on exploring new export markets without
compromising on price, according to local sources. Guyana has export agreements
with Venezuela and Panama and is in the process of finalizing deals with
several West African countries.
Sowing for the first crop of 2015
has begun and is progressing well, according to the Head of the Guyana Rice
Producers' Association (RPA). He noted that about 60% of paddy rice is already
cultivated. He told local sources that the government is supporting farmers
with several measures and has set aside around $500 million in the 2014 budget
to help the country's rice sector increase its competitiveness.
USDA estimates the country to
produce 620,000 tons of milled rice in the MY 2014-15 (January 2014 - December
2014) and export about 450,000 tons. The country's consumption needs during the
year are estimated at 145,000 tons. The UN's Food and Agriculture Organization
(FAO) estimates Guyana to produce 570,000 tons of milled rice and export around
460,000 tons in 2014.
Thailand
Attorney General Seeks More Evidence to Conclude Prosecution of Ex-Premier
Dec
16, 2014
Thailand's Attorney General has
sought more evidences from the National Anti-Corruption Commission (NACC) to
conclude the prosecution of the former Prime Minister (PM) Yingluck Shinawatra
in the controversial rice pledging scheme, according to local sources. The Office
of the Attorney-General (OAG) spokesman and the Director-general of the OAG's
litigation department reportedly told at a press conference that the Attorney
General agreed with the findings of an OAG working group that the case in its
present form was incomplete and more people needed to be questioned before
indicting the former PM. They noted that information over
government-to-government (G2G) transactions was not clear and so more evidence
is needed in this regard.
Last week, the NACC Chairman told
local sources that the investigation committee has completed all the
formalities relating to gathering adequate evidences and questioning of
witnesses, including the former Commerce Minister Boonsong Teriyapirom and his
then-deputy Phum Sarapol. The NACC accused that the former Ministers allegedly
struck a G2G deal with the Chinese government to sell rice pledged under the
rice pledging scheme.In this backdrop, the NACC Secretary General defended the
evidences which the submitted by the Commission and has ruled out further
questioning related to G2G contracts saying the OAG's request was irrelevant to
the investigation into the former PM and her ignorance to their warnings. He
reiterated that their investigation was complete in all respects. It is
understood that the NACC Commissioner is in China to seek evidences from the
Chinese officials who apparently signed G2G deals with Thailand during
Yingluck's rein.
The former Prime Minister (PM) is
also facing charges of ignoring warnings against misdealing in the controversial
rice pledging scheme, which brought losses of over 500 billion baht (around
$15.6 billion) to the exchequer.
USDA
Forecasts 2014-15 Global Milled Rice Production
at 475.2
Million Tons, Slightly Down from Last Year
Dec
16, 2014
In its December Rice Outlook
report, USDA has forecasted 2014-15 global milled rice production at around
475.2 million tons, about 1.6 million tons down from an estimated 476.8 million
tons in 2013-14, and slightly up from its last month's estimates of around 475
million tons due to estimated increase in production in China, Guyana and
Vietnam.
USDA forecasts 2014-15 global
rice acreage at around 160.6 million hectares, slightly down due to a slight
expected decline in yield. It has forecasted the average global yield at 4.41
tons per hectare (on rough rice basis), almost unchanged from last year.
According to the latest
projections, USDA expects higher output from China, South Korea, Vietnam and
Guyana due to favorable weather conditions. But the higher output from these
countries is likely to be offset by a decline in output from Indonesia.USDA
estimates 2014-15 global rice consumption and residual use at 482.9 million
tons, up about 2.7 million tons from last year, and almost unchanged from its
last month's projections. USDA expects consumption to exceed production by
about 7.7 million tons in 2014-15. Major increases in consumption and residual
use are expected in Bangladesh, Burma, China, Indonesia, the Philippines, and
the U.S.The U.S. agency estimates 2014-15 global rice ending stocks at around
99.1 million tons, down about 7% from last year's 109.3 million tons and
slightly up from last month's projection of about 99.7 million tons due
to likely decline in India rice stocks. It estimates 2014-15 global stocks-to-use
ratio at 20.5%, down from last year's 22.2%.
USDA
Post Estimates India MY 2014-15 Rice Exports at 8.7 Million Tons; Down 16% from
Last Year
Dec
16, 2014
USDA Post has estimated India's
MY 2014-15 (October - September) rice exports at around 8.7 million tons, down
about 16% from an estimated 10.3 million tons last year due to anticipated
decline in supplies from low production and competition from other rice
exporting countries.Based on preliminary export figures, India's rice exports
during January-October 2014 stood at around 8.8 million tons, down about 1%
from around 8.9 million tons exported during the same period last year. The
Post quoted market sources as saying that exports have been steady to Sri Lanka
and the traditional markets in Africa and the Middle East. The Post expects
India's rice exports in 2014 to reach about 10.5 million tons.
The Post estimates MY 2014-15
rice production at around 102 million tons based on government procurement and
early market arrival trends. Harvesting of the Kharif rice crop is almost
complete and planting for Rabi rice crop is just beginning in north-eastern
states.
India government procured around
10.7 million tons of rice in kharif Marketing Season (KMS) 2014-15 as of
November 30, 2014, down about 4% from around 11.1 million tons procured during
the same period last year. Punjab (7.7 million tons) and Haryana (1.99
million tons) remained top contributors for the Central Pool so far, according
to the Post. According to market sources, India government rice procurement in
MY 2014-15 is likely to be 6-12% lower than last year's procurement of around
31.9 million tons, says USDA Post.
The Post expects the current-year
new-crop rice procurement would be sufficient to meet the government's minimum
requirement for its public distribution system and other feeding programs in
2014-15.India’s rice stocks in the central pool as of December 1, 2014 stood at
around 21.57 million tons (including a milled equivalent of about 16.89 million
tons of paddy), down about 23% from around 28.19 million tons recorded during
the same time last year, according to data from the Food Corporation of India
(FCI).
USDA
Post Forecasts Ghana MY 2014-15 Rice Imports to Decline 7% y/y to 600,000 Tons
Dec
16, 2014
The USDA Post has forecasted
Ghana's MY 2014-15 (October - September) rice imports at around 600,000 tons,
down about 7% from around 644,000 tons last year due to increasing prices of
imported rice resulting from the rapid depreciation of Ghana currency against
the U.S. dollar.The Post finds that demand for rice has been increasing due to
persisting shortfall in production. Share of U.S. rice in Ghana's rice imports
has declined by about 77% to around $16.9 million in 2013-14 from around $73.3
million in 2011-12 due to high prices of U.S. rice. But due to increasing
demand, the Post expects the U.S. to resume its exports to Ghana in 2015.
Currently, Vietnam accounts for about 46% of Ghana's rice imports, Thailand
accounts for about 22%, the U.S. accounts for about 18% and other countries
such as China, Pakistan, India, and
Korea account for about 14%. Due
to supply irregularities, Ghana markets are dominated by imported rice rather
that the locally grown rice, according to the Post.Yet, to discourage imports,
the government levies 20% duty, 17.5% Value Added Tax (VAT), 2.5% National
Health Insurance Levy (NHIL), 0.5% Export Development and Investment Fund Levy
(EDIF), 1% Inspection fee, 0.5% ECOWAS Levy and 0.4% Ghana Customs Network fee
on rice imports.
The Post forecasts, Ghana's MY 2014-15
rice production at around 300,000 tons, up about 3% from around 290,000 tons
last year and about 9% lower than USDA's official estimates of around 330,000
tons due to adequate and timely rains in all rice-growing regions as well as
the government support by way of introducing improved high yielding, disease
resistant rice varieties to producers and assisting them to adopt low cost
water management techniques.
USDA Post estimates Ghana's MY
2014-15 paddy rice acreage to increase to around 195,000 hectares, up about 3%
from around 190,000 hectares last year, and about 2.5% down from USDA's
official estimates of around 200,000 hectares.The Post rice consumption in the
country to increase about 12% to around 950,000 tons from around 850,000 tons
last year due to continuing increase in preference for rice. Ghanaians prefer
imported rice despite higher prices due to its high quality and taste.
Mexico
Government to Help Rice Farmers to Overcome Losses from Price Falls
Dec
16, 2014
Mexico's Secretariat of Agriculture,
Livestock, Rural Development, Fisheries and Foodstuffs (SAGARPA) has decided to
provide support payments to rice farmers to help them overcome losses from
declining rice prices since August 2012, according to USDA Post. Rough rice
prices on the Chicago Board of Trade (CBOT) have declined about 14% to around
$300 per ton in August-September 2014 from around $350 per ton in August 2012,
says the Post.Also increased low-priced imports from Vietnam and Pakistan since
2013 have been pushing down local rice prices as well, severely impacting
farmers, according to the Post.According to an announcement made on November
27, 2104, SAGARPA's Agency of Commercialization and Agriculture Markets
Development (ASERCA) will provide payments to rice farmers/organizations who
have produced and marketed rice during the 20131-4 fall-winter crop cycle and
spring-summer crop cycle in specific states. It will provide subsidy to about
64,000 tons of rice, with direct grower support of 200 pesos (around $14.4) per
ton.According to SAGARPA figures, rice production in the 2013-14 fall-winter
crop cycle is estimated at around 50,167 tons; while Veracruz rice production
for the 2014 spring-summer crop cycle is estimated at around 22,952 tons in the
irrigated area.
Mexico produces only 17% of its
annual consumption needs of around 890,000 tons and imports the rest. USDA
estimates Mexico to import around 775,000 tons of rice (basis milled) in
2014-15 (October - September), up about 11% from an estimated 700,000 tons in
2013-14.
USDA
Forecasts 2015 Global Rice Trade at 41.9 Million Tons, Unchanged from 2014
Dec
16, 2014
In its December Rice Outlook
report, USDA has forecasted 2015 global rice trade to be strong at around 41.9
million tons, almost unchanged from estimated 41.9 million tons in 2014, due to
large purchases by China and Sub-Saharan Africa and large exportable supplies
by Asian exporting countries.On the exports side, USDA estimates Thailand to
export a record 11 million tons in 2015 based on expected higher purchases by
Indonesia. USDA expects Myanmar's exports to increase to around 1.4 million
tons based on expected increase in shipments to China and Indonesia. It also
expects China's exports to increase to around 400,000 tons based larger
supplies.On the imports side, it is estimating significant increases in imports
by Indonesia to around 1.3 million tons based on a smaller crop.In 2014, USDA
is forecasting Myanmar's exports to increase significantly and on the import
side, it is forecasting China, Indonesia, European Union, Sri Lanka, North
Korea, Sierra Leone and Somalia to increase.
No comments:
Post a Comment