Wednesday, December 24, 2014

24th December (Wednesday),2014 Daily Exclusive ORYZA E-Newsletter by Riceplus Magazine

Oryza U.S. Rough Rice Recap – Prices Hold Amid Limited Trading Due to Christmas Holiday; IGB Tender Results Highly Anticipated

Dec 23, 2014
The U.S. cash market was unchanged today with little trading to report as many the industry had already checked out for the Christmas Holiday.Analysts contend that both buyers and sellers went to the sidelines in advance of the results of the latest Iraqi Grain Board tender which are expected to be announced Friday, December 26th, when many in the industry will still be on vacation.Many in the industry believe that the IGB buys at least one cargo of rice out of the 105,000 MT offered from the U.S. that it could be the catalyst for higher prices.

Global Rice Quotes
December 23rd, 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           510-520           ↔
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      395-405           ↔
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%           890-900           ↔
Vietnam Jasmine         525-535           ↔
India basmati 2% broken         NQ       ↔
Pakistan basmati 2% broken    NQ       ↔
Cambodia Phka Mails 820-830           ↔

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          295-305           ↓
Egypt medium grain brokens   NQ       ↔
U.S. pet food   390-400           ↔
Brazil half grain           NQ       ↔
All prices USD per ton, FOB vessel,

Oryza Afternoon Recap – Chicago Rough Rice Futures Give Back Some of the Mid-day Gains to Close Slightly Higher

Dec 23, 2014
Chicago rough rice futures for Jan delivery settled 2.5 cents per cwt (about $1 per ton) higher at $12.185 per cwt (about $271 per ton). Rough rice futures finished the day slightly higher as the market gave up mid-day gains in afternoon trading. The market remains quiet and will likely remain so as the market trades through the next two holiday shortened weeks. The other grains closed flat to higher today; Soybeans closed unchanged at $10.3850 per bushel; wheat finished about 1.6% higher at $6.3550 per bushel, and corn finished the day about 0.6% higher at $4.1400 per bushel.
U.S. stocks furthered record gains on Tuesday, with the Dow Jones Industrial Average surpassing 18,000 for the first time, as investors embraced data that had the economy expanding in the third quarter by the most in 11 years. The Nasdaq, however, erased initial gains and turned lower, with biotechnology names weighing on the index. After rising as much as 109 points, the Dow Jones Industrial Average more recently rose 103.03 points, or 0.6%, to 18,062.47. Also rising to an intraday record and on track for a 51st record finish of the year, the S&P 500 was lately up 5.7 points, or 0.3%, at 2,084.25, with financials pacing gains and health care the sole laggard among its 10 main sectors. Erasing gains, the Nasdaq slid 9.71 points, or 0.2%, to 4,771.71. Tuesday's economic reports had the U.S. economy soaring by 5% in the third quarter, the most rapid pace since the same period of 2003, while a separate report had orders for durable goods unexpectedly dropping in November. Gold is trading about 0.4% lower, crude oil is seen trading about 3.9% higher, and the U.S. dollar is seen trading about 0.4% higher at about  1:00pm Chicago time.Monday, there were 1,754 contracts traded, down from 2,116 contracts traded on Friday. Open interest – the number of contracts outstanding – on Monday decreased by 160 contracts to 9,879

Pakistan Rice Sellers Increase Some of Their Quotes Today; India Rice Sellers Lower Some of Their Quotes

Dec 23, 2014
Pakistan rice sellers increased their quotes for 25% broken rice  and 100% broken rice by about $5  per ton each to around $330 - $340 per ton and $300 - $310 per ton respectively today. India rice sellers lowered their quotes for 100% broken rice by about $5 per ton to around $295 - $305 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 $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, up about $5 per ton from yesterday.
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 $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 $295 - $305 per ton,  down about $5 per ton from yesterday and about $5 per ton discount to Pakistan broken sortexed rice quoted at around $300 - $310 per ton, up about $5 per ton from yesterday.

Myanmar May Export Over 1.5 Million Tons of Rice in FY 2014-15; Up 25% from Last Year

Dec 23, 2014

Description: Description: is expected to export more than 1.5 million tons of rice in FY 2014-15 (April - March), up about 25% from around 1.2 million tons exported last year, the Myanmar Rice Federation (MRF) Joint Secretary was quoted as saying to local sources.Myanmar exported around 799,600 tons of rice in the first eight months (April - November) of FY 2014-15, up about 75% from around 455,800 tons exported during the same period last year, according to local sources.
The South East Asian nation's rice exports slowed down significantly between August and November this year after China had officially banned rice imports through Myanmar's northern borders. Though rice exports through the northern  borders is considered to be legal from Myanmar's point of view, Chinese authorities have been treating these cross border imports as illegal as there is no formal rice export agreement between China and Myanmar. China is also understood to have promised to lower border tax on imports from Myanmar.
Myanmar government had held talks with the Chinese authorities to chart a formal trade agreement between the two countries. In November, on the sidelines of the ASEAN summit, the Chinese Premier promised to import one million tons of rice from Myanmar in 2015 as well as legalize imports through borders.The MRF Joint Secretary noted that the Chinese authorities began loosening controls on rice imports from Myanmar borders since mid-November though they have not publicly explained the patch up.
He added that exports to China have been picking up since then and he expects more exports to China in the next three months of this financial year. Myanmar is likely to export 200,000 tons of rice formally to China this month. Of this, 100,000 ton would be exported through the borders and remaining would be exported through the sea.He also told local sources that exports to European and African destinations have also increased considerably. The government is also negotiating with the governments of many other countries to expand its export market. He added that negotiations with Sri Lanka had completed recently.
 The Myanmar government is keen on increasing rice exports to around 3 million tons in the next few years and is planning to prioritize rice in its National Export Strategy, which is likely to be released in January 2015.USDA estimates Myanmar to produce 18.98 million tons of paddy rice (around 12.15 million tons, milled basis) and export around 1.4 million tons of rice in MY 2014-15 (January - December 2015).
Thanks and Regards,

Pakistan Hopes to Resume Basmati Rice Exports to Mexico

Dec 23, 2014
Description: Description: rice exporters are hopeful of resuming basmati rice exports to Mexico, which banned basmati rice shipments from Pakistan in June 2013 after finding traces of Khapra beetle in some shipments of Pakistan, according to local sources.Officials from the Trade Development Authority of Pakistan (TDAP) are understood to have met a two-member Mexican rice quarantine delegation few days back to discuss over possible resumption of basmati rice exports from Pakistan. The delegation has also reportedly visited and inspected various rice facilities to ensure that processing, storage, packing and quality assurance were in line with Mexico's requirements.
The TDAP officials met with the Mexican authorities after members from the Rice Exporters Association of Pakistan (REAP) sought their support in regaining the lost export share in Mexico, which produces only 17% of its annual consumption needs of around 890,000 tons, basis milled, and imports the rest.Mexico's rice imports from Pakistan increased significantly during the first five months of 2013. During this period, Pakistan rice constituted about 23% of Mexico's total rice imports. Pakistan exported around 16,000 tons of rice to the Central American country during January - May 2013 (before the ban), twice from around 7,400 tons exported during the same period in 2012.
Pakistan exported around 1.35 million tons of rice (around 239,773 tons of basmati and around 1.11 million tons of non-basmati) in the first five months of FY 2014-15 (July 2014 - June 2015), up about 16% from around 1.16 million tons exported during the same period in FY 2013-14. The South Asian nation is reportedly exploring new export markets such as Cuba, Brazil, Chile, Haiti, Puerto Rico and Peru

Venezuela Announces Subsidy for Paddy Rice Production

Dec 23, 2014

Description: Description: Venezuelan government has announced it will subsidize paddy rice prices at about 6.10 bolivars per kilogram (around $960.69 per ton), according to Bloomberg.The subsidy details have been published in the official gazette number 40,567 and the subsidy is applicable in the states of Barinas and Portuguesa.The subsidies are expected to provide some relief to rice farmers who have been complaining of inadequate agricultural inputs and prevailing price controls are hindering rice production in the country. Recently, in November, the government fixed maximum retail price (MRP) of rice at around 9.63 Bolivars per kilogram (around $1,532 per ton) for the producer in order to help them increase their incomes.
The government also announced subsidies of around 4.80 bolivars per kilogram (around $755.95 per ton) and around 4.10 bolivars per kilogram (around $645.71 per ton) of white and yellow corn respectively.USDA estimates Venezuela paddy rice production to decline to around 560,000 tons (around 380,000, basis milled) in MY 2014-15 (April - March), down about 1% from an estimated 567,000 tons (around 385,000 tons, basis milled) in MY 2013-14. It also expects Venezuela rice imports to increase to around 425,000 tons in 2015, up about 36% from an estimated 312,000 tons last year. USDA estimates Venezuela rice exports to increase to around 150,000 tons in 2015, up about 50% from an estimated 100,000 tons last year.

Thailand Government Urged to Improvise Rice Selling Procedures

Dec 23, 2014

Description: Description: Honorary President of the Thai Rice Exporters Association (TREA) has urged the Thailand government to improve procedures for selling rice stocks in order to avoid unnecessary downward pressure on prices, according to local sources.He noted that the government should on a priority basis exclude rotten rice stocks from the warehouses and inform the market about the exact amount of government's rice stocks. He said by doing so, there would be a correction in rice prices and help the market return to normalcy. Hasty sales by the government will only push down the prices and will not lead to a significant increase in prices, he said.
He reportedly made these suggestions after the Thai Prime Minister told local sources that his government is keen on selling the existing 17 million tons of rice stocks in the government warehouses within the next two to three years to both domestic and overseas traders.The TREA Honorary President also expressed concern that selling rice stocks to overseas buyers may not be so easy next year due to an expected increase in supplies by other exporting nations such as India and Vietnam. While the Commerce Ministry is expecting to export around 10.5 million tons of rice in 2015, he is predicting exports of around 10 million tons.
The National Rice Policy Committee, headed by the Prime Minister, acknowledged that there are about 17.8 million tons of rice stocks, of which 2.35 million tons are of good quality, 14.4 million tons are sub-standard, around 694,000 tons are rotten and around 390,000 are missing.
The government auctioned about 400,000 tons of rice in the fourth auction on December 22, 2014 and approved sale of about 250,000 tons. It sold around 348,000 tons of rice worth 3.6 billion baht (around $81 million) in the last three auctions.  The Director-General of the Foreign Trade Department noted that is planning to sell state rice stocks on a continuous basis until next March, when new supply from the second crop enters the market.



Vietnam Foresees Stiff Competition in 2015 for G2G Rice Sales

Dec 23, 2014
Description: Description:'s rice exports to the concentrated or G2G markets, to which Vietnam sells rice under government-to-government (G2G) deals, are expected to decline in 2015 due to an expected stiff competition between the top rice exporting countries including Thailand and India, according to local sources.Vietnam normally sells rice under G2G contracts to China, Malaysia, Indonesia and the Philippines. Demand from these three countries is likely to reach around 2.5 million tons next year, but none of them has so far signed contracts with the Vietnamese rice exporters, said the Director General of Vietnam's state-owned rice exporter Southern Food Corporation (Vinafood 2).
He told local sources that they are expecting lesser orders next year due to a strong competition in the market. He noted that they are particularly concerned of Thailand who is likely to offload huge amount of stocks from the government warehouses into the market next year.The official said it is difficult to predict next year's target exports particularly because of the instability of the Chinese market. Vietnam had been relying too much on China for the last couple of years. But it is understood that China has agreed to buy around 2 million tons of rice from Thailand and around 1 million tons of rice from Myanmar next year.
An official from the Vietnam Food Association (VFA) added that Vietnamese exporters have not been able to clinch any deals with African countries, which import nearly 14 million tons of white rice annually. Vietnam could not penetrate East African market and has very little presence in West African countries like Ghana and Ivory Coast. He noted that too many varieties of rice varieties within the common white rice market is diluting Vietnam's rice competitiveness.
Rice export prices in all the top exporting countries have been declining for the last couple of months due to increasing supplies from ongoing harvests and increased competition. Export prices of Viet 5% broken rice currently stand at around $390 per ton, down about 10% from around $435 per ton in the first week of November. Similarly prices of Thai 5% rice declined about 2.4% to around $410 per ton, India 5% rice declined about 6% to around $390 per ton and Pakistan 5% rice declined about 6.25% to around $375 per ton during the same period.  Vietnam is targeting to export around 6.5 million tons of rice in 2014. It has exported around Vietnam exported about 5.961 million tons of rice in January 1 - December 18, 2014, according to the VFA. It exported around 6.71 million tons of rice exported in 2013.

Nepal 2014-15 Rice Imports Forecasted to Increase 11% y/y to 500,000 Tons

Dec 23, 2014

Description: Description: UN's Food and Agriculture Organization (FAO) has forecasted Nepal 2014-15 (July - June) rice imports to surge to around 500,000 Tons, up about 11% from around 450,450 tons in 2013-14 due to an expected decline in 2014 production and sustained demand.In its latest country brief on Nepal, the FAO estimates the South Asian nation's total 2014-15 cereal, including rice, imports to increase by about 10% to around 571,800 tons from last year's 519,818 tons.
The UN agency estimates Nepal 2014 paddy production at around 4.6 million tons (around 3.1 million tons, basis milled), down about 9% from around 5 million tons (around 3.35 million tons, basis milled) due to an estimated 6% decline on planted area as a result of late and below-average monsoon rains, which delayed sowing process and thereby leading to reduced yields. Floods and landslides across Mid-Western and Far-Western regions of the country further added to losses in rice production.Harvesting of the 2014 main season rice crop (April - December) was completed by mid-December.

USDA estimates Nepal’s MY 2014-15 (October 2014 – September 2015) paddy rice production to decline to about 4.655 million tons (around 3.1 million tons, basis milled) from an estimated 5 million tons (around 3.36 million tons, basis milled) 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.   

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23rd December (Tuesday),2014 Daily Global Rice E-Newsletter by Riceplus Magazine

State urged to boost rice sales
Ministry determined to reduce stockpile
Published: 23 Dec 2014 at 06.30
Newspaper section: Business
Writer: Phusadee Arunmas
The government is being urged to improve selling procedures next year to ensure faster sales in order to keep pace with market requirements and to classify grain quality more clearly. Prospective bidders inspect the quality of rice prior to the auction called by the Commerce Ministry yesterday. The ministry put up almost 390,000 tonnes, mainly broken rice, white rice and glutinous rice, drawing an active response from potential buyers. KITJA APICHONROJAREK
"Rotten rice stocks should be eradicated to let the market know the exact amount of the government's rice stocks. This will affect rice prices and eventually lead the market to return to normal," said Chookiat Ophaswongse, honorary president of the Thai Rice Exporters Association."Given the massive volume held by the government, the chance for prices in the market to increase by US$50-100 a tonne would be difficult."He said the overall market was expected to remain tight in 2015 due to anticipated higher supplies by other rice-producing nations such as Vietnam and India.
Mr Chookiat predicts Thailand will export 10 million tonnes next year.The Commerce Ministry forecasts Thailand will ship 10.7 million tonnes this year, a surge of 60% over last year, with value up by 29% to $5 billion.Of the total, the government has shipped 1.06 million tonnes including 230,000 tonnes sold to China.The Commerce Ministry targets exports of 10.5 million tonnes worth $5.2 billion in 2015. Next year's production is estimated at 35 million tonnes of paddy or 22 million tonnes of milled rice, down from 37 million tonnes and 24 million tonnes this year, respectively.Prime Minister Prayut Chan-o-cha, who chairs the National Rice Policy Committee, last Friday said the government had vowed to dispose of the 17 million tonnes left in its stockpile over the next two or three years through domestic sales as well as exports.
The government could sell the stocks on both a whole-warehouse and a stack basis and plans to beef up local sales.The committee also acknowledged the recent audit of state rice stocks, which counted 17.8 million tonnes, although that included 400,000 tonnes already sold and 390,000 tonnes missing.Of the 17 million tonnes still present, 2.35 million were found to be of good quality, 14.4 million substandard and 694,000 rotten.
Rice-subsidy schemes covering 15 harvests since 2004 have resulted in losses of 680 billion baht from total costs of 1.1 trillion used to buy 85 million tonnes of paddy. The subcommittee inspecting the accounting of several governments' rice-subsidy schemes earlier revealed that of the 15 programmes, four were rice-pledging schemes initiated by the Yingluck Shinawatra government with total losses of 518 billion baht.The Commerce Ministry yesterday put up almost 390,000 tonnes for the fourth auction, mainly broken rice, white rice and glutinous rice, drawing an active response from potential buyers.
Duangporn Rodphaya, director-general of the Foreign Trade Department, said the government yesterday agreed to sell 247,000 tonnes from 52 state warehouses to 21 buyers.The ministry sold a combined 348,836 tonnes in the first three auctions, raising 3.6 billion baht.Ms Duangporn said the Commerce Ministry was committed to selling the state rice stocks on a continuous basis until next March before new supply from the second crop entered the market.
More than 200,000 tons of rice sold in the latest round of auction
Date : 23 ธันวาคม 2557
BANGKOK, 23 Dec 2014 (NNT) - A total of 246,000 tons out of the 400,000 tons of rice were sold in the 4th round of auction this year with 21 companies able to clinch the deal, out of the 34 participants. The Department of Foreign Trade would officially announce the auction result at a later date after receiving the approval from the National Rice Policy Committee which is expected to meet after the New Year’s holiday. The Government would seek to strike a deal with the private sector on the remaining 150,000 tons, whose prices in the last round of auction were still lower than the minimum prices.
Meanwhile, Director-General of the Department of Foreign Trade Duangporn Rodphaya stated that this year’s rice exports should be as high as 10.7 million tons worth about 5 billion US dollars. She predicted that next year’s volume would be slightly lower, but the value would increase to 5.2 - 5.3 billion US dollars, due to lower global output affected by natural disasters and drought, contrary to the rising demand.
Rice exporters expect weaker sales to G2G markets in 2015

VietNamNet Bridge – Vietnamese rice exporters say they are uncertain about export volume to the concentrated market (government-to-government, or G2G) in 2015 because of stiffer competition in the market.

“We have sufficient information to predict demand in the G2G market in 2015,” said Huynh The Nang, general director of the Southern Food Corporation (Vinafood 2), one of the two most powerful rice exporters.However, the market will be fiercely competitive because of the presence of strong rice exporters.Nang said the Philippines, which has suffered from typhoon Hagupit, now has the demand for 600,000 tons of rice.The country plans to invite bids in January 2015, though NFA, the country’s national food agency, has denied the possibility of importing more rice than was initially planned, because of Hagupit.

Some other markets including Malaysia and Indonesia have also announced their estimated demands.It is expected that the demand from G2G markets, including the Philippines, may reach 2.5 million tons in 2015 (common white 5 percent, 15 percent and 25 percent broken rice).
Also, according to Nang, though Vietnamese rice exporters have received signs from importers about demands, they still have not obtained any contracts with considerable export volume for 2015.“The demand is big. But whether we can sell rice will still depend on the competition between us and other exporters,” Nang commented.

Meanwhile, analysts warned that Vietnamese exporters should be aware of Thailand, a strong rival that now has a high inventory index.An analyst said it is difficult to predict how much rice Vietnam will export in 2015 because of the instability of the Chinese market.China is now Vietnam’s largest rice importer. However, according to Nguyen Dinh Bich, a renowned rice expert, China is also being eyed by Thailand and India.“We have been relying on the Chinese market, but the market’s demand remains an unknown,” he said, adding that Vietnam will face big challenges in the short term and medium term with other exporters, especially in exporting common rice.
An official of the Vietnam Food Association (VFA) noted that the existence of too many rice varieties has reduced Vietnam’s rice competitiveness.“In the common white rice market segment, for example, we offer at least 10 rice varieties. Meanwhile, some importers only accept rice with homogenous quality and variety,” he said.The official noted that Vietnam has not been able to successfully exploit African markets which import 14 million tons of common white rice a year. It still cannot penetrate East African markets, and has only exported small volumes of rice to Ghana and Ivory Coast in West Africa.

Thanh Lich

Tags:    Rice exporters,rice exporting,  rice farmers,

Using weedy rice traits to boost cultivated rice yields

Weedy Rice

Genetic traits in the taller weedy red rice scattered in this field may help new varieties of cultivated rice adapt to climate change. (Photo courtesy of ARS News Service.)
Posted: Tuesday, December 23, 2014 12:00 am
By Sharon Durham, ARS News Service
Genetic traits in weedy rice may someday be used to develop sturdy, high-yield varieties of cultivated rice that will flourish in the face of climate change, thanks to findings by scientists at the U.S. Department of Agriculture. This work, conducted by Agricultural Research Service plant physiologist Lewis Ziska and his colleagues.Ziska, who is with ARS’s Crop Systems and Global Change Laboratory in Beltsville, Maryland, studied several rice cultivars to determine if changes in temperature and CO2 levels affected seed yields.

He also looked for visible traits that could signal whether a plant cultivar has the genetic potential for adapting successfully to elevated CO2 levels.The investigation included weedy red rice, which infests cultivated rice cropland. Despite the plant’s downsides, previous assessments indicated that weedy rice growing under elevated CO2 levels had higher seed yields than cultivated rice growing under the same conditions.Ziska monitored the different rice cultivars at current and future projections of atmospheric CO2 and a range of day/night air temperatures. He observed on average, all the rice cultivars put out more aboveground biomass at elevated CO2 levels, although this response diminished as air temperatures rose.For seed yield, only weedy rice and the rice cultivar ‘Rondo’ responded to elevated CO2 levels when grown at optimal day/night air temperatures of 84 degrees F and 70 degrees F.

 In addition, only the weedy rice gained significant increases of aboveground biomass and seed yield under elevated CO2 levels at the higher temperatures expected for rice-growing regions by 2050.Seed yield is a trait linked to seed head and tiller production. Tillers are stalks put out by a growing rice plant. As the plant matures, the seed heads-where rice grain is produced-develop at the end of the tillers. This suggests that crop breeders might someday be able to use this weedy rice trait to develop commercial rice cultivars that can convert rising CO2 levels into higher seed yields.These findings were published in “Functional Plant Biology” in 2013. This work supports the USDA priority of responding to climate change. ARS is USDA’s chief intramural scientific research agency.

Pier 1 Imports Now Covered by Johnson Rice

Equities researchers at Johnson Rice initiated coverage on shares of Pier 1 Imports (NYSE:PIR) in a research report issued on Monday. The firm set an “overweight” rating on the stock.Pier 1 Imports (NYSE:PIR) opened at 15.23 on Monday. Pier 1 Imports has a 52-week low of $11.42 and a 52-week high of $23.60. The stock has a 50-day moving average of $13.6 and a 200-day moving average of $14.39. The company has a market cap of $1.394 billion and a price-to-earnings ratio of 16.05.Pier 1 Imports (NYSE:PIR) last issued its quarterly earnings data on Thursday, December 18th.
The company reported $0.20 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.20. The company had revenue of $484.50 million for the quarter. During the same quarter last year, the company posted $0.26 earnings per share. On average, analysts predict that Pier 1 Imports will post $0.99 earnings per share for the current fiscal year.The company also recently declared a quarterly dividend, which is scheduled for Wednesday, February 4th. Investors of record on Wednesday, January 21st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Friday, January 16th.PIR has been the subject of a number of other recent research reports. Analysts at Credit Suisse reiterated a “hold” rating on shares of Pier 1 Imports in a research note on Friday.

They now have a $15.00 price target on the stock, up previously from $13.00. Separately, analysts at Deutsche Bank raised their price target on shares of Pier 1 Imports from $15.00 to $17.00 in a research note on Friday. They now have a “hold” rating on the stock. Finally, analysts at Nomura set a $19.00 price target on shares of Pier 1 Imports in a research note on Friday. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock.
The stock currently has a consensus rating of “Hold” and a consensus price target of $16.35.In other Pier 1 Imports news, EVP Gregory Humenesky sold 15,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $15.00, for a total value of $225,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.Pier 1 Imports, Inc (NYSE:PIR) is a global importer of imported decorative home furnishings and gifts. Receive News & Ratings for Pier 1 Imports Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pier 1 Imports and related companies with Analyst Ratings Network's FREE daily email newsletter.

Rice exports are expected to total more than 1.5 million tonnes this financial year, the largest quantity since the 1960s

The rise comes despite the rice trade being slowed by an import clampdown from China, Myanmar’s biggest rice export market.About 900,000 tonnes have been exported so far in 2014-15, according to Myanmar Rice Federation joint secretary U Lu Maw Myint Maung. The Myanmar financial year begins April 1.“At present, things are going well,” he said. “Over the next three months, we hope to export much more to China, Europe and Africa.”U Lu Maw Myint Maung, who is also one of the country’s largest rice exporters, said he anticipates exports totalling over 1.5 million tonnes this year.

The export industry had been hard-hit by China’s decision in September to crack down on rice shipments from Myanmar. While rice exports to China are legal from Myanmar’s point of view, China officially outlawsrice imports from Myanmar, though had been generally turning a blind eye. While Chinese officials have not publically explained the crackdown, traders say it has been loosening since mid-November, and most rice shipments through the Muse-Ruili border crossing are now making it through.“Rice exports to China have now almost returned to a normal situation, though the price is a bit lower than what was offered two months ago,” said U Lu Maw Myint Maung.He added Myanmar has also been exporting small quantities of high quality rice to Europe and larger volumes to Africa. It has also been adding new buyers, most recently Sri Lanka.African countries together have traditionally been the largest importers of Myanmar rice until the last two years, when Chinese demand grew.
The country is also set to top its 2013-14 exports of about 1.2 million tonnes, despite the border shutdown.Officials and businesspeople from both China and Myanmar have held negotiations to ensure similar problems don’t happen in the future. Myanmar has put together a 36-member team to negotiate the issue, including representatives from the Myanmar Rice Federation, traders, millers and commodity market officials.Much of the talks have been aimed at finding a way to comply with the health standards China demands for its rice imports. There are signs of a breakthrough, and Myanmar Rice Federation secretary U Ye Min Aung has said the first-ever official exports to the country would start with 200,000 tonnes this month. Half of this quantity is to follow the usual route by land across the Muse-Ruili border crossing, though the other half is to be transported by ocean vessel to China’s eastern seaboard for the first time.

The quantity of rice Myanmar is able to export to China each year is still under discussion, with the Myanmar side requesting to be excused paying tariffs for a specific quantity each year. China for its part has offered to lower the tax rate it has been levying at the border.“After finishing the process of making the market legal, the current methods of rice trading will not be favourable, and doing things legally will be better for both sides,” said U Ye Min Aung.

Adani Wilmar forays into branded basmati rice segment

Company says many families are actually switching over to branded basmati rice over loose ones
BS Reporter  |  Ahmedabad  
December 22, 2014 Last Updated at 20:57 IST
One of India's leading cooking oil brand Adani Wilmar is foraying into the basmati rice market this season.Traditionally, in Gujarat households stock up rice and other grocery essentials during this season, and Adani Wilmar's release claimed that many families are actually switching over to branded basmati rice over loose ones.Atul Chaturvedi, chief executive officer, Adani Wilmar said, "Our experts source the finest quality of basmati paddy from the basmati growing regions of Punjab and Haryana.”Fortune Traditional Basmati Rice is available in packs of 5 kg, 10 kg and 25 kg.

Adani Wilmar has plans to invest Rs 600 crore this fiscal to expand capacity in its refineries across the country, the company had said in July this year. It has already forayed into the soya chunks market under its 'Fortune' brand.The company's revenue stood at Rs 17,300 crore in FY14. The company, which is a 50:50 joint venture between Adani Group and Wilmar International of Singapore, exports its products to 19 countries in the Middle East, South East Asia and East Africa
Source with thanks:BUSINESS JOURNAL
New Yield Data Available

WASHINGTON, DC -- Yesterday, Farm Service Agency (FSA) Administrator Val Dolcini announced that Risk Management Agency (RMA) certified yield data has been made available for producers at FSA county offices.  Producers are encouraged to contact their local FSA offices to see what data they have on file from RMA.
This data will help producers make the one-time decision to update their commodity program payment yields or keep their current yields for the new Price Loss Coverage (PLC) and Agricultural Risk Coverage (ARC) programs.  The data on file will be available only to the producer associated with the crop insurance record and the yield update decision must be made by February 27, 2015."The collaboration between FSA and RMA to provide producers with certified yields should help streamline the process of updating yields for the new safety net programs," said Ben Mosely, USA Rice Federation vice president of government affairs.  "Producers should take advantage of this opportunity and make appointments with their local FSA office as soon as possible." 
 Contact:  Evan Spencer (703) 236-1476
Little Rock Chef Proudly Supports U.S.-Grown Rice
 Chef Brian Deloney
LITTLE ROCK, AR -- U.S.-grown rice has a keen supporter in Little Rock chef Brian Deloney, an enthusiastic participant in the USA Rice Federation's restaurant promotion at the 2014 USA Rice Outlook Conference held here earlier this month.   Deloney is the owner of Maddie's Place, a Little Rock restaurant that features inventive variations of Southern-style comfort food with a distinctive Creole influence.Chef Deloney trained under world-famous chef Emeril Lagasse for more than ten years at restaurants from Las Vegas to New Orleans, before returning to his roots in Little Rock to open his own restaurant. 
 Named after Deloney's daughter, Maddie's Place serves Cajun-style dishes including an infamous Chicken and Andouille Sausage Gumbo with Steamed Rice.Deloney emphasizes his commitment to serving creative dishes with homegrown ingredients such as rice."I love buying local ingredients, I do support that," he said.  "I like really good, simple food done right with love.   Rice is an integral part of our menu, absolutely.  We use rice all over the place."When asked about his preference for using Arkansas-grown ingredients on his menu, Deloney said, "The rice I use comes from Arkansas.  Since rice is such a big deal in Arkansas, it is pretty easy to get and a big part of what we do here."
 Contact:  Colleen Klemczewski (703) 236-1446
 CME Group/Closing Rough Rice Futures   
CME Group (Preliminary):  Closing Rough Rice Futures for December 23

Net Change

January 2015
+ $0.025
March 2015
+ $0.030
May 2015
+ $0.025
July 2015
+ $0.025
September 2015
+ $0.025
November 2015
+ $0.025
January 2016
+ $0.025


Best Eats 2014: The 12 top Huntsville-area dining reviews from this year


ChuckWagon BBQ's Three Meat Plate with ribs, brisket, chicken, slaw and potato salad. (Matt Wake/
By Matt Wake | 
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on December 23, 2014 at 8:00 AM, updated December 23, 2014 at 9:24 AM
It doesn't really matter if a restaurant employee notices the Times entertainment reporter is seated over there at table nine. Or if they don't. Because with all internal and external variables involved in the wild animal that's the restaurant business, getting well-prepared food out to a tableful of people in a timely, courtesy and interesting manner is never truly easy. To use a baseball analogy, a major league pitcher knows he's supposed to throw a strike into the catcher's mitt. But that doesn't mean he'll be on target when there are 20,000 fans in the stadium. Or that he'll get the ball past the batter. That's why restaurants and food trucks that do pull off stunning food and sterling service deserve much respect ... and a place on our Best Eats of 2014 list.
Please note: Pricing, available items and hours of operation indicated below reflect those on the date the dining review was conducted. Please call ahead for latest information.
ChuckWagon BBQ
8982 Hwy. 20, Madison
Monday - Wednesday: 11 a.m. - 2 p.m.
Thursday: 11 a.m. - 2 p.m.; 5 - 8 p.m.
Recommendations: Chicken, ribs, pulled pork, brisket.
Price range: Most main dishes $7 - $16.
Suspense builds as you get to the front of the line at Chuckwagon BBQ. A tall gray bearded gent wearing a cowboy hat - and looking like he just finished shoeing a horse - brandishes a large knife and presides over a steaming table of various meats. The ribs are excellent - smoky, tender, a subtle sweetness - and paired well with ChuckWagon's medium barbecue sauce, which has enough kick for most folks. There aren't many barbecue joints in Huntsville that take a stab at brisket. ChuckWagon nails it. The chicken, my serving was basically a breast halved, might have been my favorite main dish here - a pronounced smokiness, super tender well-cooked white meat.
The Eaves Restaurant (Sunday brunch)
501 Church St.
Sunday brunch: 10:30 a.m. - 2 p.m.
Recommendations: Surf & Turf Omelette, Crab Cake BLT, Bourbon Peaches & Cream Signature Stuffed French Toast.
Price range: Most entrees $9 - $22.
The Eaves brunch menu indicates the Bourbon Peaches & Cream Signature Stuffed French Toast ($15) requires extra prep time. It's worth the wait. Dusky, spicy bourbon notes imbuing the gooey peach stuffing inside the two large planks of French toast, which were expertly cooked. Golden. Right on. The fresh whipped cream on top was super rich and super airy, and when combined with the bourbon peach filling made for a truly decadent experience. The side of bacon, thick cut, Applewood-tasting was a smart, savory counterpoint to all that lights-out sweetness.
Brasserie Juno
964 Airport Road S.W. Ste. 3
Tuesday - Thursday: 11 a.m. - 9 p.m.
Friday - Saturday: 11 a.m. - 10 p.m. 
Sunday: 11 a.m. - 3 p.m.
Recommendations:  Tour du Fromage, Duck Au Poivre, Charbroiled Flounder, Chicken Provencal.
Price range: Most entrees $10 - $22
 If you've never eaten snails before, it's actually not a freaky experience. The Escargot ($10) at Brasserie Juno is quite lovely, broiled in a subtle garlic-butter and the snails themselves, served sans shell, had a bouncy texture not dissimilar from clams and a woodsy, Portobello-like flavor. Squeezing the accompanying lemon wedge over the Escargot really made this dish pop. Virtually every molecule of our meal at Brasserie Juno - formerly the long-running German restaurant Café Berlin which ownership rebooted in mid-July as a French place - was assured and elegant. Transportive. And flat-out delicious.
Viet Cuisine
405 Jordan Lane
Monday - Saturday: 11 a.m. - 9 p.m. 
Recommendations: Lemongrass Chicken, Dry Phnom Penh Noodle, Tofo And Mixed Vegetable On The Skillet, Seafood Pho.
Price range: Most main dishes $7 - $8.
The Lemongrass Chicken ($7.25) arrived on a sizzling skillet similar to those Mexican restaurants utilize for fajitas. A perfect portion of tender stir fry chicken, supported with a balanced amount of green bell pepper chunks, red onion (caramelized sweet), baby corn, mushrooms and, in a deft move, a few bits of pineapple. Served with white rice. Several sprigs of cilantro imparted exotic, fresh notes. Minced chili pepper added pow. An awesome dish.
Rollin Lobstah 
Visit for locations, dates and times
Recommendations: Connecticut Lobstah Roll, Maine Lobstah Roll, Mac & Cheese Bacon Lobstah Bites.
Price range: Most items $7-$11.
When Lobstah debuted this summer at a Downtown Huntsville Inc.'s Street Food event, people were waiting in 90-minute lines to order from this food truck. An hour-and-a-half. Just to order. The Connecticut Lobstah Roll ($11) is particularly excellent. Warm fresh lobster chunks on a toasted lightly buttered bun (with a favorable lobster-to-bun ratio), and this is one of those dishes where the ingredients meld into one.
Abuela's Mexican Bar and Grill
8694 Madison Blvd. Ste. 7
Monday - Thursday: 10:30 - 9 p.m.
Friday- Saturday: 10:30 a.m. - 10 p.m.
Sunday: 10:30 a.m. - 3 p.m.
Recommendations:  Marinated Pork Enchiladas, Tortilla Soup, Diablo Shrimp.
Price range:  Most entrees $6.50 - $13.
They might as well all be franchises of some chain called McMexican's. Those interchangeable, boilerplate Mexican restaurants that serve food so similar you could be in Topeka or Tennessee.  Many of us still eat at them on the regular. Mostly because of proximity to work or home. Located in Madison, Abuela's Mexican Bar and Grill is about a 15-minute drive from downtown Huntsville and not particularly convenient to here but I'll be driving back there soon. Fresh, higher quality ingredients and a menu with some delicious deviations from the norm are the primary reasons why.
1892 East (vegetarian lunch menu)
720 Pratt Avenue 
Lunch: Monday - Friday 11 a.m. - 2 p.m. 
Dinner: Monday - Saturday 5 - 10 p.m. 
Brunch: Sunday 10 a.m. - 2 p.m.
Recommendations: Mushroom Pot Pie, Portobello "Burger," Crispy Tofu Sandwich.
Price range: Most items $9 - $12.
My cheeseburger at 1892 East was juicy, plenty, rich, savory, tender ... and completely meatless. The Portobello "Burger" ($10) is served on a soft, bakery-style roll, the Portobello Burger was ideally grilled. Balsamic aioli imparted bright notes while Wright Dairy white cheddar cheese contributed lush texture. The green leafy lettuce, onion slices and ultra-ripe tomatoes served with all the sandwiches we ordered upped the ante, as did the abundant and crunchy fresh-cut fries.
5 A's Restaurant 
6297 Highway 53 
Tuesday - Saturday: 10:30 a.m. - 9 p.m
Sunday: 11 a.m. - 6 p.m. 
Recommendations: Feisty Feta Spread, Chicken Kabob Plate, Kataifi, Vegetarian Plate. 
Price range: Most items $5 - $10.
Just because food is served on a Styrofoam plate doesn't mean it can't look and taste phenomenal. Witness the Chicken Kabob Plate ($7.99) at 5 A's Restaurant, a two-year-old-plus Greek eatery in Harvest. Tender, juicy chunks of chicken breast, crisp lettuce, sliced cherry tomatoes, olives, feta cheese, soft pita triangles plated attractively atop perfectly cooked, long-grain basmati rice. This entrée really delivered some subtle-yet-zesty flavors while retaining a relatively healthy vibe. The accompanying, on-the-side tzatziki sauce offered cucumber coolness, garlic zip and clean creaminess, and the hummus boasted lothario levels of smoothness and earthiness.
The Bottle (lunch menu)
101 Washington St. N.E. 
Lunch: Monday- Friday 11 a.m. - 2 p.m. 
Dinner: Monday - Saturday: 4 - 11 p.m. 
Recommendations: Apple and Blackberry Mixed Green Salad, Pan Fried Trout, Seared Ahi Tuna Nicoise Bowl. 
Price range: Entrees $13 - $16.
The skin-up plating of trout always looks a little crazy to me, but you cannot argue with the flavor. The Bottle's Pan Fried Trout ($16) possessed - snow-soft texture, flaky, hints of buttery sweetness. It started off tasting good and got better with each bite. And there were lots of bites. Generous portion. The accompanying lemon meuniere sauce - dotted with a constellation of capers - evoked earthy notes, and whenever I bit into a caper, it added an intense bright burst. The few neon-green drops of basil oil added some sweet and leafy kicks, and I found myself searching the plate for a few more dots.
Brix (lunch menu)
964 Airport Road 
Dinner: Monday -Thursday 4:30 - 9 p.m.; Friday - Saturday 4:30 - 10 p.m.
Lunch: Tuesday - Friday: 11 a.m. - 2 p.m. 
Recommendations: Brix Salad, Chicken & Waffles. 
Price range: $9 - $15.
If you've ever been underwhelmed by chicken and waffles, try the version on Brix's lunch menu. The problem you can run into with this dichotomous dish, as prepared at soul food restaurants, is the chicken is often three or so fried wings. So the protein is skimpy and a hassle to eat with a knife and fork. Brix's Chicken & Waffles ($12.95), ordered on a recent Monday, featured a sizeable, boneless chicken tenderloin, fried juicy-crisp without being overdone or greasy.  Granted, Brix is a white-tablecloth restaurant. But this is an upscale refinement that really, really works and a fair trade for whatever "funkiness" is lost.
Cotton Row Restaurant (lunch menu)
100 South Side Square 
Lunch: Wednesday - Friday: 11 a.m. - 2 p.m. 
Dinner: Monday through Saturday 5 p.m. - 10 p.m. 
Recommendations: Gnocchi Spinach Soup, Pan Seared Corvina, Grilled Mahi Mahi, Chicken Pot Pie. 
Price range: Most lunch items $11 - $17.
Ever since star chef James Boyce opened Cotton Row in 2008, the downtown-square fine-dining spot has earned a reputation for transcendent food and car-payment sized tabs. While Cotton Row dinner entree prices are no joke, the restaurant's fantastic  lunch menu is much more accessible. I ordered the Grilled Mahi Mahi ($14). When the gorgeously plated Mahi was placed in front of me, it felt like I was living inside a cookbook photo. The fish couldn't have been cooked better. Super, tender flaky interior, and a slightly-crispy exterior which was subtly salt and herb seasoned. The fish was served atop sunset-soft ringlets of house-made, slightly buttery fettuccine. Wow.
Nick's Ristorante 
10300 Bailey Cove Road 
Monday - Saturday: 4 - 11 p.m. 
Recommendations: Veal Saltimboca, Pasta Nicky, Crab-Stuffed Portobello "Jaclyn."
Price range: Most entrees $18 - $39.
Nick's Ristorante is located in a South Huntsville strip mall, so approaching the humble exterior you might wonder, "Is this really somewhere I want to drop some big coin on dinner?" The answer is a resounding, 72-point font "YES." The Veal Saltimboca ($24) was possibly the best in a strong field of entrees we ordered. Layers of veal, prosciutto, cheese and, I believe, sage, resulted in a dish that was sophisticated and supper-comfy. Our server recommended mushroom risotto as a side, and man, was she right-on. Chunky, woodsy and a must-do side.

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