FAO Forecasts Higher Rice
Imports by Haiti in 2014-15
Dec
04, 2014
The FAO estimates Haiti 2014 paddy
rice production at around 125,000 tons (around 69,000 tons, basis milled), down
about 26% from around 169,000 tons (around 92,950 tons, basis milled) in 2013
due to unseasonal dry weather from June to August. The UN agency expects
Haiti's 2014 total cereal production to decline 40% year-on-year to around
367,000 tons.
Average prices of imported rice
remained stable at around 45,930 gourde per ton (around $1,014 per ton) since
March this year. However, average prices of locally produced rice remained
stable at around 91,882 gourde (around $2,047) per ton between February - July
2014 but since then they have declined about 7.5% to around 84,981 gourde
(around 1,852) per ton in November 2014.
USDA estimates Haiti to produce around 78,000 tons of milled rice in
2014-15, unchanged from last year's level; and estimates Haiti to import around
410,000 tons of rice in 2014-15, down about 1.2% from around 415,000 tons
exported last year.
Global Rice Quotes
December 4th, 2014
Long grain white rice - high quality
Thailand 100% B grade 420-430
↔
Vietnam 5% broken 385-395
↔
India 5% broken 395-405
↔
Pakistan 5% broken 380-390
↔
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 335-345
↔
Cambodia 25% broken NQ
↔
India 25% broken 355-365
↔
U.S. 15% broken 515-525
↔
Long grain parboiled rice
Thailand parboiled 100% stxd 405-415 ↔
Pakistan parboiled 5% broken stxd 420-430 ↔
India parboiled 5% broken stxd 380-390 ↔
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% 915-925
↔
Vietnam Jasmine 515-525
↔
India basmati 2% broken NQ
↔
Pakistan basmati 2% broken NQ
↔
Cambodia Phka Malis 825-835
↔
Brokens
Thailand A1 Super 330-340
↔
Vietnam 100% broken 325-335
↔
Pakistan 100% broken stxd 300-310
↓
Cambodia A1 Super NQ ↔
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
FAO Global Rice Price Index
Declines 1% m/m to 232 Points in November 2014
Dec
04, 2014
he FAO All Rice Price Index declined
to around 232 points in November 2014, down about 1.3% from around 235 points
in October 2014 due to decline in Higher and Lower Quality Indica sub-indices
as well as Aromatic sub-indices. Japonica sub-index, however, recorded an
increase.Aromatic sub-index witnessed highest decline of about 56 points
reaching to around 212 points in November 2014 from around 268 points in
October 2014 due to a shift of quotations from the old to the new rice crops,
according to the FAO. Its effect on the overall index was offset by a 27 point
increase in the Japonica sub-index to around 200 points this month from around
204 points last month. Japonica sub-index increased significantly due to the
reintroduction of the Egyptian medium grain rice price in its computation.
Egyptian rice prices increased substantially
compared to those prevailing before imposing export restrictions in 2013.Higher
Quality Indica sub-index declined by about 4 points to around 199 points in
November 2014, from around 203 points last month. Lower Quality Indica
sub-index also declined by about 4 points to around 200 points this month from
around 204 points last month.
In January - November 2014, the FAO
All Rice Price Index averaged 236 points, slightly up from around 234 points
during the same period in 2013. Sub index for higher quality Indica rice prices
declined about 5.5% y/y and sub index for lower quality Indica prices declined
about 11% y/y. Aromatic rice price sub index declined about 2.6% y/y. However,
sub index for Japonica rice prices increased about 15% y/y.
According to the FAO, rice export
prices in the Asian origins such as Thailand, Vietnam and India declined in
November 2014 due to ongoing harvests and stiff competition between them.
Export prices of Pakistan non-basmati rice and Uruguay origins strengthened.
While export prices of U.S. rice remained unchanged.Thai 100% broken prices
declined about 2.3% m/m to around $427 per ton; Thai 5% broken prices declined
about 2.3% m/m to around $418 per ton; Thai parboiled rice prices declined
about 2.3% m/m to around $420 per ton; Thai 25% broken prices declined about
2.2% m/m to around $400 per ton and Thai fragrant prices declined about 9% m/m
to around $1,062 per ton. Thai A1 Super declined about 2% m/m to around $338
per ton.
Export prices in Vietnam and India declined about 6% m/m and 2.4% m/m to
around $379 per ton and $362 per ton respectively.Rice export prices in of
Pakistan 25% broken rice increased by about 2% m/m to around $352 per ton,
while those in Uruguay increased slightly m/m to around $600 per ton. However,
export prices of the U.S. rice remained unchanged at last year's level of around
$1,000 per ton.
Tags: FAO Rice Price Index, Indica Rice Price Sub-index,
Japonica Rice Price
Sub-index, Aromatic
rice price index
Oryza U.S. Rough Rice Recap -
Sideways Market Needs Increased Exports to Lift Prices
Dec
04, 2014
The U.S. cash market continued to
trend sideways amid very limited trading. Analysts contend that despite the
recent sales to Iraq it will take a substantial uptick in export demand to lift
prices.In the meantime, the USDA reported that cumulative net export sales for
the week ending on November 27th, totaled 152,500 tons which was considerably
higher than last week and the prior 4-week average.
Increases reported for the following
destinations including: 120,000 tons to Iraq, 24,700 tons to Japan, 5,400 tons
to Guatemala, including 4,400 tons switch from unknown destinations, 1,100 tons
switched from El Salvador, and decreases of 500 MT, 4,000 tons Taiwan, and
1,300 tons to Canada while decreases of 4,400 tons were reported for unknown
destinations as well as 1,600 tons for El Salvador.U.S. rice exporters shipped
64,400 tons which was 6% lower than last week and 11% lower than the prior
4-week average. The primary destinations included: 14,600 tons to Honduras,
13,800 tons to Mexico, 10,500 tons to Guatemala, 9,400 tons to El Salvador, and
3,100 tons to Costa Rica.
Tags: U.S. rice prices, U.S. rice market
Oryza Overnight
Recap - Chicago Rough Rice Futures Unchanged Overnight as Market Continues to
Drift Sideways
Dec
04, 2014
Chicago rough rice futures for Jan
delivery were paused unchanged overnight at $12.140 per cwt (about $268 per
ton) ahead of trading in Chicago. The other grains are seen mostly higher:
soybeans are currently seen 0.7% higher, wheat is listed about 1.1% lower and
corn is noted about 0.7% higher.U.S. stocks futures turned mostly lower on
Thursday after U.S. weekly jobless claims rose more than expected and the
European Central Bank held interest rates at record lows. The number of
Americans filing for unemployment benefits declined by 17,000 to 297,000,
versus a 295,000 forecast.
The European Central Bank held
interest rates unchanged, with investors listening to a news conference by ECB President
Mario Draghi for signals as to when the central bank might add further
stimulus. The Bank of England held its benchmark interest rate at a record low
on Thursday, prompted by feeble wage growth, relatively low inflation and
stagnation in the euro zone. In other news, FOMC members Mester and Brainard
will be speaking in Washington today. Meanwhile in Moscow, Russian President
Vladimir Putin delivered his annual Presidential address to the Federal
Assembly, where he accused Western powers of "pure cynicism" over the
crisis in Ukraine.
In Europe, shares were higher in
morning trade ahead of the central bank data and Asian stocks climbed following
record highs overnight after the Federal Reserve's Beige Book indicated
optimism about the economic outlook. Gold is currently trading about 0.2%
higher, crude oil is seen trading about 1.4% lower, and the U.S. dollar
is currently trading about 0.5% lower at 8:10am Chicago time.
Overuse of
Nitrogen Affects Zinc Absorption and Indirectly Rice Yield
Dec
04, 2014
The Krishi Vignan Kendra team in Kadapa, south India, lead by Dr Madan
Mohan made a few observations based on their research work on how fertilizers
are best used on crops such as rice, cotton, sunflower, groundnut, chilli and
turmeric.
Oryza: What is your advice to rice farmers on usage of
fertilizers?
KVK team: It is just another myth that more fertilizers means better paddy yields. There is just no correlation between the two. Now with the cost of chemicals spiralling up with every passing day, and the soil steadily losing out on its original fertility, it is time to rethink usage of chemical fertilizers, in most cases, over-usage of chemicals in the farm. Farmers in Chittoor in Anantapuram, a town in south India, have practically witnessed and learnt the hard way how the soil loses its fertility after heavy usage of Nitrogen in their farms.
KVK team: It is just another myth that more fertilizers means better paddy yields. There is just no correlation between the two. Now with the cost of chemicals spiralling up with every passing day, and the soil steadily losing out on its original fertility, it is time to rethink usage of chemical fertilizers, in most cases, over-usage of chemicals in the farm. Farmers in Chittoor in Anantapuram, a town in south India, have practically witnessed and learnt the hard way how the soil loses its fertility after heavy usage of Nitrogen in their farms.
Oryza: What is wrong in what the farmers did in usage of
fertilizers?
KVK team: The Nitrogen residues in the soil had prevented the seepage of Zinc into the soil, thus drastically affecting the final yield.
KVK team: The Nitrogen residues in the soil had prevented the seepage of Zinc into the soil, thus drastically affecting the final yield.
Oryza: What are your guidelines to them on doing it the
right way?
KVK team: Sound technical research along with good old wisdom has shown that three equal parts of Nitrogen served during tilling, seeding and germination of the plant and watering it lightly within 48 hours yields good results. For 50 kg of urea, mix 10 kg of neem powder and set it aside for 48 hours before applying it to the soil. This will help in judicious absorption of Nitrogen into the soil. Phosphorous should be used only during tilling stage in hard soils. It should be applied in two phases - during tilling and during germination if the soil is light and soft.
KVK team: Sound technical research along with good old wisdom has shown that three equal parts of Nitrogen served during tilling, seeding and germination of the plant and watering it lightly within 48 hours yields good results. For 50 kg of urea, mix 10 kg of neem powder and set it aside for 48 hours before applying it to the soil. This will help in judicious absorption of Nitrogen into the soil. Phosphorous should be used only during tilling stage in hard soils. It should be applied in two phases - during tilling and during germination if the soil is light and soft.
Oryza Afternoon Recap - Chicago
Rough Rice Futures Continue to Consolidate as Strong Exports Provide Little
Surprise
Dec
04, 2014
Chicago rough rice futures for Jan
delivery settled 2 cents per cwt (about $0.44 per ton) lower at $12.120 per cwt
(about $267 per ton). Rough rice futures continued their pattern of
consolidation noted yesterday, once again charting an inside day. Traders
continue to monitor prices for indication of a breakout of the current pattern
but appear to be stepping to the sideline as indicated by a sharp reduction in
trade volume over the past few trading sessions. Although the current
shot-term, multi-session, and medium term, multi week, trends remain bearish
the market appears to have found support around $12.100 per cwt (about $267 per
ton) and some market participants expect that a recovery could be to come.
The other grains closed higher
today; Soybeans closed about 1.2% higher at $10.1050 per bushel; wheat finished
a touch higher at $5.9075 per bushel, and corn finished the day about 2% higher
at $3.9075 per bushel.U.S. stocks erased losses and turned mostly positive on
Thursday as investors embraced reports that the European Central Bank's
governing council was expected to consider a broad-based package of
quantitative easing at its January meeting. Comments from Draghi had thrown
cold water on hopes the ECB would begin a program of sovereign-debt purchases
called quantitative easing.
The central bank held interest rates
at a record low. After a 97-point fall, the Dow Jones Industrial Average was
lately off 4.02 points at 17,908.60. The S&P 500 fell a point to 2,073.37,
with materials the best performing and energy hardest hit of all of its 10
major industry groups in decline. The Nasdaq rose 2.56 points, or 0.1%, to
4,777.05. Gold is trading about 0.1% lower, crude oil is seen trading about
0.6% lower, and the U.S. dollar is seen trading about 0.3% lower at about
1:00pm Chicago time.Wednesday, there were 337 contracts traded, down from 918
contracts traded on Tuesday. Open interest – the number of contracts
outstanding – on Wednesday decreased by 55 contracts to 10,344.
South Korea Buys 90 Tons of
Non-Glutinous Rice in Tender
Dec
04, 2014
South Korea's state run Agro-Fisheries & Food Trade Corporation (KAFTC)
has purchased 90 tons of long-grain milled non-glutinous rice of Thai origin at
$1,045 per ton in a tender that closed on November 25, 2014, according to a
notice posted on its website.
Tags: South Korea rice tenders, South Korea rice imports, South Korea
Agro-Fisheries Corporation (KAFTC)
Pakistan Rice Sellers Lower Some
of Their Quotes Today; Other Asia Rice Quotes Unchanged
Dec
04, 2014
Pakistan rice sellers lowered their quotes for 100% broken rice by about $5
per ton to around $300 - $310 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 $395 - $405 per ton, about $15 per ton premium on Pakistan
5% rice quoted at around $380 - $390 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 $355 - $365, about $20 per ton premium on Pakistan 25% rice
quoted at around $335 - $345 per ton.
Parboiled Rice
Thailand parboiled rice is quoted at around $405 - $415 per ton. India
parboiled rice is quoted at around $380 - $390 per ton, about $40 per ton
discount to Pakistan parboiled rice quoted at around $420 - $430 per ton.
100% Broken Rice
Thailand broken rice, A1 Super, is quoted at around $330 - $340 per ton, about
$5 per ton premium on Vietnam 100% broken rice shown at around $325 - $335 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, down
about $5 per ton from yesterday.
USDA Post
Estimates Indonesia to Import 1.225 Million Tons of Rice in MY 2013-14; Up 88%
from Last Year
Dec
04, 2014
In Indonesia, only the state
Logistics Agency Bulog is permitted to import medium-quality rice while private
sector is allowed to import specialty rice (basmati, Thai Hom Mali, and
japonica) as well as 100% broken rice, glutinous rice, and rice for diabetic
purposes. The private sector usually imports about 200,000 - 250,000 tons of
speciality rice. The government tightened import procedures to avert
misappropriations and smuggling of rice.
The government wants Bulog to hold
at least 2 million tons of rice stocks by the end of this year. However due to
expected decline in production and consequently procurement, it authorized
Bulog to import 500,000 tons of rice, including 300,000 tons of medium quality
25% broken rice and 200,000 tons of premium quality 5% broken rice. Bulog so
far imported 425,000 tons of rice this year. Bulog targets to procure 3.2
million tons of rice from local farmers.Based on the forecasts by the
Indonesian National Statistics Agency (Badan Pusat Statistik, BPS), the Post
estimates Indonesia's milled rice production at around 36.3 million tons
(around 57.16 million tons, basis paddy), slightly down from an estimated 36.55
million tons (around 57.56 million tons, basis paddy) and up about 0.8% from
USDA's official estimates of about 36 million tons (around 56.69 million tons,
basis paddy).
Indonesia's new President is
targeting to achieve self-sufficiency in rice, corn and soybean production by
2017 and is accordingly planning to build 47 water reservoirs as well as
renovate the existing irrigation canals.
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