FAO Estimates Sierra Leone to Import 215,000
Tons of Rice in 2015; Slightly Up from 2014
Dec
17, 2014
The UN's Food and Agriculture
Organization (FAO) has estimated Guinea's 2015 rice, basis milled, imports at
around 215,000 tons, slightly from 2014. The expected increase in imports is
attributed to shortfalls in 2014 production levels.The FAO estimates Guinea's
2014 milled rice production at around 770,000 tons (around 1.15 million tons,
basis paddy), down about 8% from around 831,600 tons (around 1.25 million tons,
basis paddy) last year, despite favorable weather conditions and timely rains
due to the Ebola Virus Disease (EVD) outbreak, which has severely affected the
country since the beginning of this year. The government's measures to control
the outbreak of EVD led to shortfalls in labor and agricultural inputs leading
to a decline in production.
In Sierra Leone, rice is the most
significant crop and accounts for about 85% of total cereal production. Much of
the decline in production has occurred due to border closures, restrictions/ban
of people movement, people fleeing the country and reluctance of labor to work
in groups.The FAO estimates that the country to have very little ending stocks
in 2014 assuming high domestic utilization given lower production.Average
retail prices of both imported and local rice have remained nearly stable from
August this year due to increased supplies from local production. However,
prices in some EVD affected districts in Southern and Northern provinces are
found to be exceptionally high.
FAO
Estimates Guinea to Import 320,000 Tons of Rice in 2015; Up 7% from 2014
Dec
17, 2014
The FAO estimates Guinea's 2014
milled rice production at around 1.315 million tons (around 1.976 million tons,
basis paddy), down about 4% from around 1.368 million tons (around 2.075
million tons, basis paddy) last year, despite favorable weather conditions and
timely rains due to the Ebola Virus Disease (EVD) outbreak, which has severely
affected the country since the beginning of this year. The government's
measures to control the outbreak of EVD led to shortfalls in labour and agricultural
inputs leading to a decline in production.In Guinea, rice is the most
significant crop and is grown in about 80% of agricultural land. Much of the
decline in production has occurred due to border closures, restrictions/ban of
people movemnet, people fleeing the country and reluctance of labor to work in
groups.
The FAO estimates that the
country to have very little ending stocks in 2014 assuming increased domestic
utilization.Average retail prices of both imported and local rice have remained
nearly stable from August this year due to increased supplies from local
production despite border closures with neighbouring Senegal, Liberia, Sierra
Leone and Guinea-Bissau leading to declined trade.
India
Rice Sellers Lower Some of Their Quotes Today; Pakistan Rice Sellers Increase
Some of Their Quotes
Dec
17, 2014
India rice sellers lowered their
quotes for 5% broken rice by about $5 per ton to around $385 - $395 per ton
today. Pakistan rice sellers increased their quotes for 100% broken rice by
about $5 per ton to around $300 - $310 per ton. 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 $385 - $395
per ton, down about $5 per ton from yesterday and about $15 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, 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, 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, on par with Pakistan broken sortexed rice
quoted at around $300 - $310 per ton, up about $5 per ton from yesterday.
Laos
Targets Rice Exports to China
Dec
17, 2014
The Vice-Minister was attending
the eighth Ordinary Session of the National Assembly Convention, scheduled
between December 9-26, 2014, in Lao capital Vientiane.Laos is almost
self-sufficient in rice production and consumes almost all of the output
domestically and imports about 10,000 tons of rice annually to meet the
consumption demand. This year, the South-East Asian nation is likely to be
fully self-sufficient in rice production without the need for importing rice,
according to the UN's Food and Agricultural Organization (FAO).
Given abundant agricultural land
and water sources, the government has been planning to boost rice production by
about 1 million tons and become net exporter of rice by 2015. In line
with the targets, the government is targeting a paddy yield of around 2.9 tons
per hectare from around 720,000 hectares of paddy rice area in 2014, according
to local sources. The government has been seeking support from Vietnam and
China to develop improved rice varieties, which are adaptable to climate
changes. It has also been encouraging domestic and foreign investment in rice
production to help farmers increase yield through access to technology and
newer production techniques.
USDA estimates Laos to produce
around 1.55 million tons of milled rice (around 2.46 million tons, basis paddy)
in MY 2013-14 (January 2014 - December 2014) and import around 10,000 tons of
rice to meet consumption needs of around 1.58 million tons.
Global Rice
Quotes
December 17th, 2014
Long grain white rice - high quality
Thailand 100% B grade 420-430
↔
Vietnam 5% broken 385-395 ↔
India 5% broken 385-395
↓
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 495-505
↔
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 300-310
↑
Cambodia A1 Super 385-395 ↔
India 100% broken stxd 300-310
↔
Egypt medium grain brokens NQ
↔
U.S. pet food 390-400 ↔
Brazil half grain NQ
↔
All prices USD per ton, FOB vessel, oryza.com
Nepal
2014-15 Paddy Rice Production Estimated at 4.78 Million Tons; Down 5% from Last
Year
Dec
17, 2014
According to Nepal Rastra Bank's
(NRB) statistics, Nepal's 2013-14 paddy output was at around 5.04 million tons,
up about 12% from around 4.5 million tons in 2012-13 due to timely rains and
favorable weather conditions. The NRB statistics show that the south Asian
nation imported rice worth Rs.12.37 billion (around $121.45 million) in 2013-14,
up about 46% from around Rs.8.47 billion (around $83.16 million) despite
surplus rice stocks of around 800,000 tons from the previous fiscal due to
rising disposable incomes and the Nepalese preference for better quality
quality rice. Nepal mostly imports 'masino' rice.
USDA estimates Nepal to produce
around USDA estimates Nepal’s MY 2014-15 (October 2014 – September 2015) milled
rice production to slightly increase to about 3.1 million tons (around 4.65
million tons, basis paddy) from an estimated 3.36 million tons (around 5.05
million tons, basis paddy) in MY 2013-14. It estimates Nepal to import 300,000
tons of rice in 2014 and around 350,000 tons of rice in 2015.
Low Land
Flooded Rice Ecosystems Act as Net Carbon Sink, Finds Study
Dec
17, 2014
“Carbon inputs in rice field
through photosynthesis, biomass and organic carbon added as manure exceed
output, making paddy cultivation in eastern regions as carbon sinks rather than
carbon emitters,” one of the scientists involved in the study was quoted as
telling local sources.East Indian states (Bihar, West Bengal, Jharkhand and
Odisha) contribute to about 31% of India's total rice production. They
accounted for about 33 million tons of rice production in 2012-13, according to
the Directorate of Economics and Statistics. India produced around 105 million
tons of rice in 2012-13 and around 106 million tons of rice in 2013-14.
Oryza
Overnight Recap - Chicago Rough Rice Seen Trading Higher as Market Looks to
Recover from Yesterday's Loss
Dec
17, 2014
Chicago rough rice futures for
Jan delivery were trading 7 cents per cwt (about $2 per ton) higher at $12.150
per cwt (about $268 per ton) during early floor trading in Chicago. The other
grains are seen trading mixed: soybeans are currently seen 0.3% lower, wheat is
listed about 0.7% higher and corn is currently trading unchanged.
U.S. stocks climbed on Wednesday,
with the Dow and S&P 500 rising after a three-session drop, as investors
bet that the Federal Reserve would continue to support the economy while
readying for an interest-rate increase. The central bank ends a two-day meeting
Wednesday afternoon, with most expecting the Fed will drop the
"considerable-time" language from its statement as it prepares to
start hiking rates in 2015. The consumer price index fell 0.3% in November, the
largest drop since 2008. The Dow Jones Industrial Average rose 94.12 points, or
0.5%, to 17,162.99. The S&P 500 added 12.38 points, or 0.7%, to 1,985.12,
with energy pacing gains among its 10 major sectors and industrials the sole
laggard. The Nasdaq gained 24.89 points, or 0.6%, to 4,572.73. Gold is
currently trading about 0.4% higher, crude oil is seen trading about 1.1%
lower, and the U.S. dollar is currently trading about 0.2% higher at
8:40am Chicago time.
Oryza
Afternoon Recap - Chicago Rough Rice Futures Tick Higher as Headlines of Easing
US-Cuba Relations Provide Support to US Grains
Dec
17, 2014
Chicago rough rice futures for
Jan delivery settled 3.5 cents per cwt (about $1 per ton) lower at $12.115 per
cwt (about $267 per ton). Rough rice futures got off to a strong start during
morning trading, at one point gaining as much as 12.5 cents per cwt (about $3
per ton) before coming under renewed selling pressure as the trading session
wore on. Today’s move is seen as technically bearish as the market faced firm
selling and failed to continue higher as it traded near overhead resistance at
$12.210 per cwt (about $269 per ton), provided by the short-term 5-day moving
average. Today’s gains were likely attributed to outside support as the grain
complex as a whole traded higher in response to news that US-Cuban trade
relations may improve; Soybeans closed about 0.3% higher at $10.2700 per
bushel; wheat finished about 4.1% higher at $6.4850 per bushel, and corn finished
the day about 0.6% higher at $4.0825 per bushel.
U.S. stocks climbed on Wednesday,
after the Federal Reserve made its policy announcement. Energy producers led
Wall Street gains, and the price of oil turned higher. The cost of living
declined in November as energy prices fell, with the Labor Department's
consumer price index falling 0.3%, the largest drop since 2008. Low inflation
gives the Fed more reign to take its time in increasing rates. The core rate,
which excludes food and energy, climbed at a slower pace than last month. After
a 182-point jump, the Dow Jones Industrial Average was lately up 149.41 points,
or 0.9%, to 17,218.28. The S&P 500 added 21.58 points, or 1.1%, to
1,994.32, with energy pacing gains among its 10 major sectors and industrials
the sole laggard. The Nasdaq gained 39.70 points, or 0.9%, to 4,587.54. Gold is
trading about 0.4% lower, crude oil is seen trading about 2.7% higher, and the
U.S. dollar is seen trading about 0.4% higher at about 1:00pm Chicago
time.Tuesday, there were 2,514 contracts traded, up from 940 contracts traded
on Monday. Open interest – the number of contracts outstanding – on Tuesday
decreased by 201 contracts to 10,350.
Depreciating Rupee Puts Downward Pressure on
Indian Rice Export Prices
Dec
17, 2014
Paddy rice prices in India have
been tumbling for the last couple of months due to increased supplies from the
ongoing kharif rice crop (June - December) harvest. On the other hand, stiff
competition between rice exporting countries such as Vietnam, Thailand and
Pakistan coupled with increased exportable surpluses in these countries have
led to decline in export rice prices in the last couple of months. According to
the UN's Food and Agriculture Organization (FAO), average export prices of
India 25% broken rice declined about 2.4% in November 2014 to around $362 per
ton from around $379 per ton in October 2014.
Weakening rupee is adding to the
already declining export rice prices. Average prices of India 5% broken rice
fell to around $385-$395 per ton (FOB) today, down about 2.5% from around $400
per ton last week. Local sources say Indian exporters are forced to reduce
prices in tune with Thailand and Vietnam sellers. While Thailand is keen on
selling its nearly 17 million tons of rice stocks accumulated from the rice
pledging scheme introduced by the previous government, Vietnam is keen on
exporting as much rice as possible from the recent harvest.
However, India's exports have
been subdued for the past few months due to Iran's temporary ban on rice
imports. Iran is an important export market for India's basmati rice and accounts
for about 30% of India's total basmati rice exports.
India exported around 5.926
million tons of rice (1.64 million tons of basmati and 3.64 million tons of
non-basmati) in the first six months (April - September 2014) of FY 2014-15,
down about 4% from around 5.51 million tons (1.94 million tons of basmati and
3.58 million tons of non-basmati) exported during the same period last year,
according to data from the Agricultural & Processed Food Products Export
Development Authority (APEDA)
Laos
Targets Rice Exports to China
Dec
17, 2014
The Vice-Minister was attending
the eighth Ordinary Session of the National Assembly Convention, scheduled
between December 9-26, 2014, in Lao capital Vientiane.Laos is almost
self-sufficient in rice production and consumes almost all of the output
domestically and imports about 10,000 tons of rice annually to meet the
consumption demand. This year, the South-East Asian nation is likely to be fully
self-sufficient in rice production without the need for importing rice,
according to the UN's Food and Agricultural Organization (FAO).Given abundant
agricultural land and water sources, the government has been planning to boost
rice production by about 1 million tons and become net exporter of rice by
2015.
In line with the targets, the
government is targeting a paddy yield of around 2.9 tons per hectare from
around 720,000 hectares of paddy rice area in 2014, according to local sources.
The government has been seeking support from Vietnam and China to develop
improved rice varieties, which are adaptable to climate changes. It has also
been encouraging domestic and foreign investment in rice production to help
farmers increase yield through access to technology and newer production
techniques.
USDA estimates Laos to produce
around 1.55 million tons of milled rice (around 2.46 million tons, basis paddy)
in MY 2013-14 (January 2014 - December 2014) and import around 10,000 tons of
rice to meet consumption needs of around 1.58 million tons.
Oryza U.S. Rough Rice Recap - Prices Hold as
Market Waits for IGB Results
Dec
17, 2014
The U.S. cash market was
unchanged today with little to no trading occurring as many in the industry are
eagerly awaiting the results of the latest Iraqi tender which will be announced
next week and will likely determine the price direction for U.S. rice going
into the new year.Meanwhile, many in the industry were encouraged today after
President Barack Obama announced that the U.S. government is initiating talks
to resume diplomatic relations with Cuba and loosening trade and travel
restrictions on the nation.
Cuba was once the largest market
for U.S. rice and any increase in export demand is welcomed by the industry;
however, analysts note that U.S. rice would still need to compete with less
expensive rice from Asia.
Philippines
Rice Stocks Stand at 2.95 Million Tons as of November 1, 2014; Up 63% m/m and
Up 21%
Total rice stocks in the
Philippines as of November 1, 2014 reached around 2.95 million tons, up about
63% from around 1.81 million tons recorded in October 2014, and up about 21%
from around 1.77 million tons recorded during the same period last year, according
to the Bureau of Agricultural Statistics (BAS).
The NFA had imported about 1.8
million tons of rice since the beginning of 2014 (including 1.5 million tons of
this year's imports and 300,000 tons of last year's imports) to replenish rice
stocks and control price hikes. It has recently allowed the private sector to
import another 187,000 tons of rice under the minimum access volume (MAV)
program.
Contents are published with permission of ORYZA.com
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