How Organic is Italy's Organic
Rice?
Dec
19, 2014
However, there are concerns that the
so-called organic rice is grown using traditional methods as a laboratory
testing after milling process is not able to differentiate between organic rice
and traditional rice. Also, experts say under normal conditions, organic rice
is grown without chemicals and its yield cannot cross 3.5 tons per hectare.Some
rice farms that claim to be organic farms grow both organic and non-organic
rice, further muddling the distinction between the two in production and sales
processes.
Some farmer groups are calling for
strict controls over use of use of chemicals in organic farms. They are
demanding public and private institutions in various regions and provinces, and
certification institutes, to verify the use of chemicals in the growing season.
They say releasing such into the market tends to a fraud and those resorting to
such frauds deserve punishment.
India Basmati Rice Export Prices
Decline to $900 per Ton; Down 36% from Last Year
Dec
19, 2014
Basmati rice export prices this year fell to around $900 per ton, down
about 36% from around $1,400 per ton last year, according to local sources. The
decline is largely attributed to an expected increase in basmati rice production
and decline in export demand, particularly from Iran.
However, Iran's stance to ban rice
imports, is severely hurting Indian basmati rice farmers and exporters. While
farmers are not getting fair prices, exporters who have already procured enough
quantities of basmati rice expecting export orders are short of orders.
According to the President of the All India Rice Exporters Association (AIREA),
demand for basmati rice from other markets such as Europe and Saudi Arabia is
stable, but due to excess supplies, exporters are forced to sell stocks at low
prices.The AIREA President noted that there is yet no clarity over resumption
of basmati rice imports by Iran, which constitutes about 35% of India's basmati
rice exports. A senior official from the Agriculture and Processed Food
Products Exports Development Authority (APEDA) noted that basmati rice prices
currently are unrealistic and need a correction.
India exported 1.64 tons of basmati
rice in the first six months of 2014-15 (April - September), down about 15%
from around 1.94 million tons exported during the same period last year. At
this pace, India's basmati rice exports are expected to decline by about 10-15%
this year.India exported around 3.76 million tons of basmati rice in 2013-14,
up about 9% from around 3.46 million tons exported in 2012-13.
Italian Government Approves Use
of Chemicals to Control Herbicide Resistant Weeds
Dec
19, 2014
The Ministry also noted that a new
weed called Eclipta prostata, mostly found in Spain, has been traced
in Italy and is known to significantly reduce the paddy output. This particular
weed can be controlled before seeding with oxadizon, or with ALS-inhibitors
after seeding or with a mix of propanil and MCPA at a later stage also,
according to the Ministry.Apart from weeds, presence of weevil such as Lissorhoptrus
oryzophilus, is impacting productivity in some provinces like Mantua
Verona, Ferrara and Sardinia.However, the Ministry recommended the use of these
chemicals only for a limited time.
Oryza Overnight Recap - Chicago
Rough Rice Futures Find a Bid Despite Lower Grains in Early Friday Trading
Dec
19, 2014
Chicago rough rice futures for Jan
delivery were trading 11.5 cents per cwt (about $3 per ton) higher at $12.225
per cwt (about $270 per ton) during early floor trading in Chicago. The other
grains are seen trading lower: soybeans are currently seen 0.4% lower, wheat is
listed about 1.8% lower and corn is currently noted about 0.6% lower.U.S.
stocks rose on Friday, with the Dow industrials and S&P 500 on track for
their second best week in nearly two years. After veering between small gains
and losses, the Dow Jones Industrial Average was lately up 41.95 points, or
0.3%, at 17,820.10.
The S&P 500 added 7.78 points,
or 0.4%, to 2,069.01, with energy rising the most and telecommunications the
sole laggard among its 10 main sectors. The Nasdaq gained 12.02 points, or
0.3%, to 4,760.38. On Thursday, U.S. stocks rallied, with the Dow industrials
climbing more than 400 points for the first time in three years, as investors
applauded the Federal Reserve's pledge that it would be patient in increasing
interest rates. Gold is currently trading about 0.5% higher, crude oil is seen
trading about 2% higher, and the U.S. dollar is currently trading about
0.2% higher at 8:40am Chicago time.
Oryza Afternoon Recap - Chicago
Rough Rice Futures Rally as Market Appears to Price in Positive Potential of
Future Trade with Cuba
Dec
19, 2014
Chicago rough rice futures for Jan
delivery settled 20 cents per cwt (about $4 per ton) higher at $12.110 per cwt
(about $271 per ton). Rough rice futures traded steadily higher throughout the
session today. Despite the days strong showing the market finished the week
with a 3.5 cent per cwt (about $1 per ton) loss on account of a steep mid-week
decline. The market remains trapped within an $11.800 -$13.000 per cwt (about
$260-$287 per ton) trading range and looks poised to continue to do so in
coming sessions. It will likely require a change in the fundamental outlook to
push the market in either direction. The other grains were led lower by a sharp
decline in wheat today; Soybeans closed about 0.5% lower at $10.3850 per
bushel; wheat finished about 3.5% lower at $6.3225 per bushel, and corn
finished the day about 0.1% lower at $4.1050 per bushel.
U.S. stocks rose on Friday, with the
Dow industrials and S&P 500 on track for their second best week in nearly
two years. After veering between small gains and losses, the Dow Jones
Industrial Average was lately up 23.85 points, or 0.1%, at 17,7802. The S&P
500 added 8.57 points, or 0.4%, to 2,069.80, with energy rising the most and
telecommunications the worst performing among its 10 main sectors. The Nasdaq
gained 18.33 points, or 0.4%, to 4,766.73. Gold is trading about 0.2% higher,
crude oil is seen trading about 5.8% higher, and the U.S. dollar is seen
trading about 0.4% higher at about 1:00pm Chicago time.
Thursday, there were 1,324 contracts traded, down from 2,442 contracts
traded on Wednesday. Open interest – the number of contracts outstanding – on Thursday
decreased by 132 contracts to 9,908.
Indonesia Vice-President
Stresses for Rice Self-Sufficiency, Zero Imports
Dec
19, 2014
The Vice-President said that the
15-hectare agricultural land under the Agricultural Ministry could be used in
an effective manner to achieve the self-sufficiency goal. He also noted that in
order to achieve self-sufficiency in rice production, the government should
ensure good irrigation network, supply of good quality seeds and availability
of fertilizers.Indonesia's new President who took over in October this year
also advocated the policy of achieving self-sufficiency in basic food items
such as rice, corn and sugar over the next four years. The government planning
to introduce an agricultural stimulus package to boost rice production in the
country.
The government is targeting an
increase of about 4% in the paddy rice production in 2015 to around 73.4
million tons (around 48.44 million tons, basis milled) from an estimated 70.61
million tons (around 46.65 million tons, basis milled) in 2014, according to
local sources.Indonesia imported around 425,000 tons of rice so far this year.
USDA estimates Indonesia to produce around 36.3 million tons of rice, basis
milled (around 57.17 million tons, basis paddy) and import around 1.4 million
tons of rice in MY 2013-14 (January 2014 - December 2014, more than double an
estimated 650,000 tons imported in 2013.
Thailand Signs Two Million Ton
Rice MoU with China
Dec
19, 2014
The two countries also signed a MoU
under which China will construct two dual-track rail lines covering a total of
867 kilometers (around 542 miles). The two MoUs are expected to strengthen trade
relations between China and Thailand.Thailand is also planning to speed up the
delivery process under the existing one-million tons G2G contract with China.
Thailand so far shipped 300,000 tons to China under the existing contract and
is scheduled to export remaining 700,000 tons by July 2015. Thailand
exported around 277,547 tons of rice to China in 2013, up about 94% from around
143,082 tons exported in 2012, according to data from Thai Rice Exporters
Association (TREA).
Thailand currently has about 17.8
million tons of rice in its stockpiles, according to Bloomberg. The Thai Prime
Minister was quoted as saying that it could three years to sell all the stocks.
He noted that the government is planning to sell the stocks gradually to avoid
price falls. According to a stock audit report of the existing rice stocks,
2.35 million tons are of good quality; 14.4 million tons are substandard but
quality can be improved; 694,999 tons are of poor quality; and 390,000 tons are
missing.
Meanwhile, the Thai Prime Minister
hinted at filing civil and criminal law suits against previous governments'
rice pledging schemes, which led to cumulative losses of around 680 billion
baht (around $21 billion) to the exchequer. He noted that those responsible for
losses would be sued for compensation.Today, the National Anti-Corruption
Commission (NACC) has cleared senior Democrat Party leaders of misconduct in
connection with rice sales struck in 2009 when in government.
UDP Fertilizer Technique Gaining
Popularity in Ghana
Dec
19, 2014
This method of fertilizer
application is said to deliver more nutrients to the plant all through the
growth cycle by helping primary nutrients such as nitrogen, phosphorus and
potassium as well as secondary nutrients such as sulphur, magnesium and
calcium, nor micronutrients, zinc, copper, manganese, iron, boron and
molybdenum retain in the soil. In traditional fertilizer application methods,
fertilizer is usually leeched into streams and rivers leading to environmental
pollution. A group of farmers were introduced to this method as part of a
project by the West Africa Fertilizer Program (WAFP), International Fertiliser
Development Centre (IFDC) and Africa Fertiliser and Agribusiness Partnerships
(AFAP).
The project was financed by the United States
Agency for International Development (USAID).Farmers who adopted this method
said by applying fertilizer using the UDP has increased their paddy yields by
about 18 - 50% while reducing the cost of fertilizer by about 20 - 30%. They
noted that this method has helped them to reduce input costs and increase
incomes. The Chief of Party of the WAFP noted that the UDP method is found
to more useful in Ghana where soil fertility is declining. It will help
increasing yields by providing the needed nutrients and very little wastage and
reducing carbon emissions significantly compared to the traditional methods.With
the experiences of farmers who used the UDP technology, the WAFP is planning to
vigorously promote the use of this method to help Ghana farmers increase their
yields and reduce costs.
Ghana produces only 35% of the
required demand of around 975,000 tons and imports the rest. Ghana's annual
rice import bill stood at $306 million in 2013 and the government is planning
to increase rice production by about 20% per annum over the next four years to
make Ghana self-sufficient in rice. It is targeting at least 13% surplus rice
production by 2018. The government has also sought technical support from
Turkey, India and the Dutch to increase rice production in the country. It also
developed a national rice seed map (NRSRM) to ensure self-sufficiency in
quality rice seed production by 2018.According to the USDA, Ghana’s rice
production is estimated at about 330,000 tons (milled basis) in MY 2014-15
(October - September). The U.S. agency expects Ghana to import 620,000 tons of
rice during the year to meet consumption needs of around one million tons of
rice.
Weekly Recap: Oryza White Rice
Index Pulled Lower by Declining India, U.S. Rice Export Quotes
Dec
19, 2014
Thailand
Thailand 5% broken rice is today
shown at about $405 per ton, unchanged from a week ago, down about $5 per ton
from a month ago, and up about $20 per ton from a year ago.The UN’s FAO
forecasts Thailand to reclaim the world’s top rice exporter status in
2014. The FAO expects Thailand’s rice exports to increase about 53% y/y
to 10.2 million tons in 2014. The agency expects Thai exports to further
increase to 11 million tons in 2015. The USDA also estimates Thailand to
export a record 11 million tons in 2015.
The National Anti-Corruption
Commission has urged the Office of the Attorney General to protect witnesses
involved in dealing with the rice pledging case, some of whom face
counterclaims or parallel law suits that might deter them from testifying
accurately, according to local sources.
India
India 5% broken rice is today shown at about $390 per ton, down about $10
per ton from a week ago, down about $25 per ton from a month and a year ago.
The USDA Post has estimated India’s MY 2014-15 (October-September) rice
exports to be around 8.7 million tons, down about 16% from last year.
A surprising decision by Iran to ban rice imports temporarily has had a
negative impact on Indian rice exporters: in 2013-14, 85% of Iran’s rice
imports came from India’s basmati rice, a total of about 1.45 million tons.
The UN’s FAO expects India’s rice exports to decline about 5% y/y to 10
million tons in 2014 and to further decline about 18% y/y to 8.2 million tons
in 2015.
The depreciation of the Indian rupee, which hit a 13-month low at Rs. 63.53
against the U.S. dollar due to declining crude oil prices, has started to exert
downward pressure on Indian rice export prices, according to local sources.
Vietnam
Vietnam 5% broken rice is today shown at about $390 per ton, unchanged from
a week ago, down about $20 per ton from a month ago and down about $25 per ton
from a year ago.
Pakistan
Pakistan 5% broken rice is today shown at about $375 per ton, unchanged
from a week ago, down about $20 per ton from a month ago and down about $10 per
ton from a year ago.
Paddy rice production in FY 2014-15 is estimated at 8.437 million tons,
according to the National Space Agency of Pakistan and the UN’s FAO, a decrease
of about 19% from last year.
Central & South America
Brazil 5% broken rice is today shown at about $550 per ton, unchanged from a week
and a month ago and down about $135 per ton from a year ago.
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.
Five percent broken rice from Uruguay and Argentina is today shown at about $600 per
ton, unchanged from a week and a month ago and down about $30 per ton from a
year ago.
Mexico’s Secretariat of Agriculture, Livestock, Rural Development, Fisheries and
Foodstuffs (SAGARPA) will provide support payments to rice farmers to help them
overcome losses from declining rice prices since August 2012, according to the
USDA Post.
Guyana’s rice production in 2014 has reached 633,000 tons, up about 18% from last
year, according to the country’s Agriculture Minister.
U.S.
U.S. 4% broken rice is today shown at about $515 per ton, down about $30
per ton from a week and a month ago, and down about $75 per ton from a year
ago.
Recent actions by President Barack Obama to relax restrictions on food
items from the 50-year embargo with Cuba may lead to increased U.S. exports
of agricultural products, including rice.
Chicago rough rice futures dropped on Tuesday, Wednesday, and Thursday
after reaching a high of $12.490 per cwt (about $275 per ton) on Monday.
The low this week was on Thursday, when they fell to $12.050 per cwt (about
$266 per ton) but they quickly rebounded on Friday, closing at the high of
$12.345 per cwt (about $272 per ton).
The U.S. cash market mostly held steady this week, although it dropped some
early in the week in sympathy with the futures market. Trading was
limited throughout the week.
Other Markets
Cambodia 5% broken rice is today shown at about $465 per ton, unchanged from a week
ago, up about $5 per ton from a month and a year ago.
In the first ten months of 2014, China imported 2.014 million tons of
rice, an increase of about 7% from the same time last year, according to the
China Customs General Administration.
The UN’s FAO estimates Sierra Leone’s 2015 rice imports will be about 215,000 tons, slightly up from 2014,
mostly due to decreased production, which is down about 8% y/y, and somewhat
related to the outbreak of the Ebola Virus Disease.
The UN’s FAO estimates Guinea’s 2015 rice imports will be about 320,000 tons, up about 7% from 2014, due
to decreased production resulting from the Ebola Virus Disease outbreak.
Total rice stocks in the Philippines as of November 1 were ab out 2.95 million tons, up about 63% from the
previous month and up about 21% from the same period last year, according to
the Bureau of Agricultural Statistics.
Paddy rice production in Nepal is expected to decline about 5.1% from last year to 4.78 million tons, due
to poor rain scheduling, according to the Ministry of Agricultural Development.
Private sector imports in Bangladesh have reached 405,000 tons of rice so far in FY 2014-15 (July-June), up
about 8% from last year, according to local sources.
The USDA Post forecasts Ghana’s MY 2014-15 rice imports to reach about 600,000 tons, down about 7% from
last year, due to increasing prices of imported rice and the rapid depreciation
of Ghana currency against the U.S. dollar.
Rice prices in Saudi
Arabia are expected to fall by about 5-10% in the coming months as crude oil
prices have plunged nearly 50%, according to local rice traders.
Iraq has issued a tender to buy at least 30,000 tons of rice from the U.S. ,
Uruguay, Argentina, Vietnam, Brazil, and Thailand with a closing date of December
22.
FAO Forecasts China 2014 Rice
Imports at 2.4 Million Tons; Unchanged from Last Year
Dec
19, 2014
Average prices of Japonica rice remained stable despite increased supplies
from the ongoing 214 harvest due to the government support measures.China has
imported around 2.014 million tons of rice in the first ten months of 2014
(January - October), up about 7% from around 1.874 million tons imported during
the same period last year, according to data from China Customs General
Administration.USDA estimates China to produce around 144.5 million tons of
rice, import around 4 million tons and export around 400,000 tons of rice in MY
2014-15 (July - June).
Thailand Rice Sellers Lower Some
of Their Quotes Today; Other Asia Rice Quotes Unchanged
Dec
19, 2014
Thailand rice sellers lowered their quotes for 5% broken rice and
Parboiled rice by about $5 per ton to around $400 - $410 per ton, each,
today. Other Asia rice sellers kept their quotes mostly unchanged.
5% Broken Rice
Thailand 5% rice is quoted at around $400 - $410 per ton, down about $5 per
ton from yesterday and about $15 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, 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 $400 - $410 per ton, down about
$5 per ton from yesterday. India parboiled rice is quoted at around $375 - $385
per ton, about $20 per ton discount to Pakistan parboiled rice quoted at around
$395 - $405 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.
No comments:
Post a Comment