Asia Rice Quotes Unchanged Today
Jan 12, 2015
Asia rice sellers
kept their quotes mostly unchanged today.
5% Broken Rice
Thailand 5% rice is
quoted at around $405 - $415 per ton, about $30 per ton premium on Vietnam 5%
rice shown at around $375 - $385 per ton. India 5% rice is quoted at around
$390 - $400 per ton, about $20 per ton premium on Pakistan 5% rice quoted at
around $370 - $380 per ton.
25% Broken Rice
Thailand 25% rice
was last quoted at around $350 - $360 per ton, about $5 per ton premium on
Vietnam 25% rice shown at around $345 - $355 per ton. India 25% rice is
quoted at around $355 - $365, about $30 per ton premium on Pakistan 25% rice
quoted at around $325 - $335 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 $20 per ton discount to Pakistan parboiled
rice quoted at around $400 - $410 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, about
$10 per ton premium on Pakistan broken sortexed rice quoted at around $290 -
$300 per ton.
Brazil December 2014 Rice Stocks Down 61% from Last Year
Jan 12, 2015
Brazil
rice stocks stood at around 351,860 tons in December 2014, down about 15% from
around 411,947 tons in November 2013 and about 61% from around 904,424 tons in
December 2013, according to the country's national grain supplying agency Conab.According
to Conab, rice stocks with the Selling Option Contract of Agricultural Products
(OPCAO) have declined to around 202,861 tons, down about 17% from around
244,253 tons in November 2014 and down about 63% from around 554,379 tons in
December 2014.
Rice stocks with Federal Government
Acquisition (AGF) stood at around 148,057 tons, down about 11% from around
166,604 tons in November 2014 and down about 57% from around 346,235 tons in
December 2013. Rice stocks with farmers (Agricultural Familiar) stood at around
942 tons, down 14% from around 1,090 tons in November 2014 and about 75% from
around 3,809 tons in December 2013.USDA estimates Brazil MY 2014-15 (April –
March) paddy rice production at around 12.28 million tons (around 8.35 million
tons, basis milled), slightly up from an estimated 12.2 million tons (around
8.3 million tons, basis milled) in MY 2013-14.
European Commission Meets with Italian Rice Growers to Discuss Import
Safeguard Clause
Jan 12, 2015
European
Commission officers will be in Rome on January 28 to meet with the Italian rice
growing sector and the Italian Government in order to clarify some aspects of
the Italian request for a safeguard clause designed to product the domestic
industry; this is the first concrete response from Brussels to Rome after the
presentation of the second dossier in December 2014. The request asks the
European Union (EU)to reintroduce customs barriers for rice imported from
Cambodia and Myanmar; currently, under the "Everything but Arms” agreement
rice produced from a list of Least Developed Countries (LDCs) which include
Cambodia and Myanmar is imported into the EU duty-free.
Italian
rice producers say this zero duty policy has caused financial hardship for the
local rice industry last two years, although now the European market is showing
some hints of recovery.Meanwhile, the boom of rice imports from LDCs to Europe
seems to be slowing down. Data supplied by the European Commission from
September to December 2014 show that the flow of milled rice from Cambodian and
Myanmar is about unchanged if compared to one year ago. The total amount
reached in this 4-month period was 81,618 tons, down -1% if compared to the
82,814 tons in the same period a year earlier.
That
includes about 85% from Cambodia and about 15% from Myanmar. Cambodia
rice exports to the EU have slowed while Myanmar rice exports to the EU have
increased. From September-December 2014, Cambodia shipped 67,528
tons to the EU, against the 77,881 tons of the same period of 2013 (down -13%
y/y) while Myanmar shipped 12,405 tons to the EU in the same 4 months, up from
3,479 tons of 2013 (+257% y/y ) in the same period a year earlier.
Conab Estimates Brazil 2014-15 Paddy Rice Production at 12.198 Million
Tons, Slightly Up from Last Year
Jan 12, 2015
Brazil’s National
Grains Supply Company (Conab) has forecasted the country's 2014-15 paddy rice
production at around 12.198 million tons, slightly up from around 12.122
million tons in 2013-14. Conab slightly lowered its projections for Brazil 2014-15
paddy rice production from its last month's projection of around 12.21 million
tons.
Conab has estimated
Brazil's 2014-15 paddy rice acreage at around 2.354 million hectares, slightly
down from around 2.373 million hectares in 2013-14 and slightly down from its
previous month's projection of around 2.360 million hectares.
Paddy rice acreage
in the key rice growing Centro-Sul (Center-South) region is projected at
1.553 million hectares in 2014-15, slightly down from around 1.565 million
hectares in 2013-14. Rice acreage in the North/Northeast regions is estimated
at around 800,600 hectares, down 1% from around 808,400 hectares in 2013-14.
Average rice yield
in Brazil in 2014-15 is projected at around 5.182 tons per hectare, up about
1.4% from around 5.108 tons per hectare recorded in the previous year, and
slightly up from its last month's projection of around 5.174 tons per hectare.
USDA estimates
Brazil MY 2014-15 (April – March) paddy rice production at around 12.28 million
tons (around 8.35 million tons, basis milled), slightly up from an estimated
12.2 million tons (around 8.3 million tons, basis milled) in MY 2013-14. It
estimates Brazil’s 2014-15 paddy rice acreage at around 2.45 million tons, up
about 2% from an estimated 2.4 million hectares in MY 2013-14. USDA
estimates Brazil to export around 900,000 tons of rice and import around
700,000 tons of rice in 2014.
Iraq Invites International Tenders to Buy 30,000 Tons of Rice
Jan 12, 2015
Iraq's Trade
Ministry has invited international tenders to purchase 30,000 tons of rice from
the U.S., Uruguay, Argentina, Brazil, Vietnam and Thailand, according to
Bloomberg.The last date for submitting bids is January 25, 2015 and the bids
would be valid till January 29, 2015.
Oryza Afternoon Recap - Chicago Rough Rice Futures Close Lower as USDA
S&D Does Little to Support Prices
Jan 12, 2015
Chicago rough rice
futures for Mar delivery settled 8.5 cents per cwt (about $2 per ton) lower at
$11.460 per cwt (about $253 per ton). Rough rice futures settled lower
following an unimpressive USDA S&D report which showed a slight reduction
in production for the 2014/15 marketing year. USDA reduced pounds per acre
while increasing acreage. Today’s report was more or less as expected and
provide little to spur trade activity. The other grains closed mostly lower
today; Soybeans closed about 3.5% lower at $10.1600 per bushel; wheat finished
about 1.5% lower at $5.5550 per bushel, and corn finished the day about 0.4%
higher at $4.0200 per bushel.
U.S. stocks declined
on Monday, erasing opening gains, as worries about the falling price of oil
overrode enthusiasm that came with a bout of corporate deal making. Exxon Mobil
and Chevron led blue-chip declines, which had a 56-point gain quickly
evaporating and the Dow Jones Industrial Average falling as much as 157 points
and lately off 46.29 points, or 0.3%, at 17,688.11. The S&P 500 shed 11.44
points, or 0.6%, to 2,033.37, with energy leading declines and
telecommunications the sole sector in the green among its 10 major industry
groups. The Nasdaq declined 28.94 points, or 0.6%, to 4,675.12. Gold is trading
about 1.5% higher, crude oil is seen trading about 4.2% lower, and the U.S.
dollar is seen trading about 0.1% higher at about 1:00pm Chicago time.
Friday, there were
174 contracts traded, down from 388 contracts traded on Thursday. Open interest
– the number of contracts outstanding – on Friday increased by 3 contracts to
8,767.
Global
Rice Quotes
January 12th, 2015
Long grain white rice
- high quality
Thailand 100% B grade 420-430 ↔
Vietnam 5% broken 375-385 ↔
India 5% broken 390-400 ↔
Pakistan 5% broken 370-380 ↔
Cambodia 5% broken 450-460 ↔
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 345-355 ↔
Pakistan 25% broken 325-335 ↔
Cambodia 25% broken 430-440 ↔
India 25% broken 355-365 ↔
U.S. 15% broken 495-505 ↔
Long grain parboiled
rice
Thailand parboiled
100% stxd 405-415 ↔
Pakistan parboiled 5%
broken stxd 400-410 ↔
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% 895-905 ↔
Vietnam Jasmine 510-520 ↔
India basmati 2%
broken NQ ↔
Pakistan basmati 2%
broken NQ ↔
Cambodia Phka Mails 805-815 ↔
Brokens
Thailand A1 Super 330-340 ↔
Vietnam 100% broken 325-335 ↔
Pakistan 100% broken
stxd 290-300 ↔
Cambodia A1 Super 355-365 ↔
India 100% broken stxd
300-310 ↔
Egypt medium grain
brokens NQ ↔
U.S. pet food 405-415 ↔
Brazil half grain NQ ↔
All prices USD
per ton, FOB vessel, oryza.com
Oryza U.S. Rough Rice Recap - Prices Soften after WASDE Increases
Production and Carry Out; Iraq Floats New Tender
Jan 12, 2015
The
U.S. cash market was softer today after the USDA WASDE report showed an
increase in their long grain production estimate by 2.1 million cwts from last
month’s estimate bringing the total to 162.4 million cwts which was mostly due
to increased acreage.At the same time, the USDA increased both their long grain
import and export projection by 1.0 million cwts as (45,360 tons) which offset
each other. This, in turn, increased their 2014/2015 long grain carry over
projection from 27.0 million cwts (1,224,700 tons) to 29.1 million cwts
(1,319,955 tons).
Analysts
note that today’s report was mostly in line with expectations and as a result
it did not significantly change buy or sell interest in this market.Meanwhile,
the Iraqi Grain Board issued another tender for at least 30,000 tons of long
grain white rice of either U.S., Uruguayan, Argentine, Brazilian, Vietnamese,
or Thai origin. Offers need to be submitted no later than January 25 and
must remain valid through January 29.
Oryza Overnight Recap - Chicago Rough Rice Futures Little Changed ahead of
Today's USDA S&D Update
Jan 12, 2015
Chicago
rough rice futures for Mar delivery are currently trading 2 cents per cwt
(about $0.44 per ton) lower at $11.530 per cwt (about $254 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 0.1% lower and
corn is currently noted about 0.5% lower.U.S. stocks declined on Monday,
erasing opening gains, as worries about the falling price of oil overrode
enthusiasm that came with a bout of corporate deal making.
Exxon
Mobil and Chevron led blue-chip declines, which had a 56-point gain quickly
evaporating and the Dow Jones Industrial Average falling as much as 157 points
and lately off 114.89 points, or 0.6%, at 17,622.48. The S&P 500 shed 17.26
points, or 0.8%, to 2,027.55, with energy leading declines and
telecommunications the sole sector in the green among its 10 major industry
groups. The Nasdaq declined 42.51 points, or 0.9%, to 4,661.55. Gold is
currently trading about 0.6% higher, crude oil is seen trading about 4.4%
lower, and the U.S. dollar is currently trading about 0.2% higher at
10:10am Chicago time.
Thailand Rice Bond Sales Receives Lukewarm Response on First Day
Jan 12, 2015
Thailand
government has begun the sale of bonds through the state-owned and commercial
banks to clear the debts associated with the rice pledging scheme, according to
local sources. The government hopes to raise around 100 billion baht (around $3
billion) from bond sales this year.However, response to the sales has not been
as expected, according to local sources. While the Bank of Agriculture and
Agricultural Cooperatives (BAAC) sold about 391 million baht (around $1.2
million) to about 439 buyers; Krungthai Bank sold bonds worth 1 billion baht
(around $30.4 million); and Siam Commercial Bank sold around 400-500 million
baht (around $1.2 - $1.5 million) worth bonds during the first few hours of
opening the sale.
The government
planned to sell bonds in two tranches of 50 billion baht (around $1.5 billion)
each. The first tranche has a ten-year maturity with 3% interest during the
first three years, 4% in the 4th to 7th years and 5% in the 8th to 10th year.
The second tranche has five-year maturity with a fixed interest rate at 3.8%.
Both the tranches are guaranteed by the Finance Ministry.
The first tranche
bond sales began today and the second phase sales will take place between
January 19 to 23 , 2014. The buyers are required to purchase a minimum of 1,000
baht (around $30) and can purchase a maximum of 2 million (around $60,832) in
the first phase. There are no specified quantity restrictions for the second
phase sales.
The
rice pledging scheme introduced by the Yingluck-led government has brought
about losses of about 518 billion baht (around $15.8 billion) to the
government, according to the Thai Finance Ministry. However, the former Thai
Prime Minister defended the rice pledging scheme before the National
Legislative Assembly (NLA) and denied all the charges against her on last
Friday.Separately, the Thai Commerce Ministry has accused 77 parties of theft,
embezzlement and fraud connected to the rice pledging scheme introduced by the
previous government and has asked the police to prosecute them, said local
sources.
USDA Post Estimates Bangladesh to Import 500,000 Tons of Rice in 2014-15;
Down 33% from Last Year
Jan 12, 2015
USDA Post has
estimated Bangladesh to import around 500,000 tons of rice in MY 2014-15 (May -
April), down about 33% from an estimated 751,000 tons imported in MY 2013-14.
Imports in 2013-14 (mostly by private sector) increased due to competitive
Indian prices.
According
to official media sources, the government of Bangladesh agreed to export 50,000
tons of coarse tons to Sri Lanka.The Post has estimated Bangladesh's 2014-15
milled rice production to decline slightly to around 34.5 million tons,
slightly up from an estimated 34.39 due to expected lower Aman production (July
- December), which is likely to be affected from floods in northern Bangladesh,
and rice blast and drought in some areas.
The
government has planned to procure around 1.4 million tons of paddy and 200,000
tons of milled rice in 2014-15. According to official media sources, the
government's procurement of Aman rice from began on November 15, 2014 and will
continue till February 28, 2015. The government is expected to procure about
300,000 tons from the Aman crop at around Tk 32 per kilogram (around $386 per
ton) for husked rice and around Tk 20 (around $257 per ton) fro unhusked
rice.Prices of coarse rice have been falling since October 2014 due to excess
supplies from Aman harvest, according to the Post. Government's rice stocks as
of December 2014 stood at around 1.16 million tons, up about 75% from 2013,
reports the Post based on data from the Ministry of Food.
Vietnam Charts Out Plans to Expand Rice Exports Amid Stiff Competition;
Considers Bonded Warehouses in Africa
Jan 12, 2015
Vietnam's
Ministry of Industry and Trade (MoIT) has set out plans to intensify measures
to boost rice exports in 2015 amid exporters' fears of a likely tough year for
Vietnamese rice exports this year due to expected stiff competition with
Thailand and India, and declining demand, according to local sources.The
Ministry is particularly planning to increase exports to African, West Asian
and South Asian markets as it expects the Vietnamese rice to be more price
competitive in these markets Vis-a-Vis other rice exporters. It is keen on
tapping the markets of Ivory Coast, Congo, Kenya, Angola, Mozambique and
Madagascar, Iran, Iraq and Bangladesh .The MOIT told local sources that it is
planning to strengthen marketing and promotion efforts as well as improve coordination
with the respective governments to boost exports. It is also reportedly
planning to set up bonded warehouses in Angola, Cameroon and Mozambique to help
Vietnamese exporters increase market accessibility in these markets.
Currently, Thailand,
India, Pakistan and the U.S also supply rice to the African market along with
Vietnam. Lower and medium quality rice, including 10%, 15% and 25%
brokens, is mostly preferred by African customers. With concerns over weak
export demand, last week, Vietnam has cut floor prices of 10%, 15% and 25%
broken rice to about $375 per ton, $365 per ton and $360 per ton
respectively.Vietnam's rice export prices have declined since the beginning of
this year due to higher supplies from 2014 winter-spring harvest and a sluggish
demand from buyers. Export prices of Vietnamese 25% broken rice currently stand
at $350 per ton, down about 1.4% from about $355 per ton in the last week of
December 2014.
Meanwhile,
Mexico's reinstating import tariffs on paddy and rice imports from this month
are also likely to impact Vietnam's rice exports to Vietnam. According to data
from the VFA, Mexico imported around 65,000 tons of rice from Vietnam in the
first nine months of 2014, compared to around 59,410 tons from the U.S., around
46,720 tons from Uruguay and around 31,480 tons from Thailand. The U.S. share
in the Mexico market has been falling while that if Vietnam and Pakistan has
been increasing since the last couple of years due to lower prices offered by
the two Asian nations.Vietnam exported about 6.316 million tons of rice in
2014, down about 6% from about 6.71 million tons of rice exported in 2013,
according to data from the VFA. Average rice export price so far in this year
stands at about $442 per ton (FOB), up about 2% per ton from about $433 per ton
recorded same time last year.
Pakistan Basmati Rice Prices Decline Sharply in 2014 Amid Weak Demand
Jan 12, 2015
Average Pakistan
basmati rice export prices declined about 4% in 2014 (January - December) to
around $1,324 per ton from around $1,372 per ton in 2013 due to increased
output and subdued export demand, according to the UN's Food and Agriculture
Organization (FAO). The decline has been in line with the global rice export
prices. Especially rice import ban by Iran has affected both India and Pakistan
basmati rice export prices. According to the FAO, export rice prices in
Thailand, Vietnam and India too have been declining since the end of September
due to increasing supplies from the 2014 main crop harvests and stiff competition
between exporting countries.
The decline has been
very sharp in December 2014 though the declining trend has been continuing
since August 2014. In December 2014, Pakistan's basmati rice export prices have
declined about 25% to around $885 per ton from around $1,181 per ton in
November 2014, and down about 16% from around $1,411 per ton in December
2013.Average basmati rice prices increased between August and September 2014
and peaked to around $1,450 per ton in September 2014 due to fears of a fall in
production as floods affected large area of basmati rice acreage in
Punjab.
In terms of local
currency, average Pakistan basmati rice prices in 2014 declined to around PKR
132,532 per ton (using historical exchange rates), down about 5% from around
PKR 139,070 per ton in 2013.In December 2014, Pakistan's average basmati rice
prices declined to around PKR 88,350 per ton (using historical exchange rates),
down about 26% from around PKR 118,903 per ton in November 2014, and down about
40% from around PKR 148,155 per ton in December 2013.Pakistan basmati growers
associations have been urging the government to provide adequate support to
increase competitiveness of Pakistan's basmati rice in the global market.
Vietnam Exports About 6.32 Million Tons Rice in 2014
Jan 12, 2015
Vietnam exported
around 6.316 million tons of rice in 2014, down about 6% from about 6.71
million tons of rice exported in 2013, according to data from the Vietnam Food
Association (VFA). Average rice export price so far in this year stands at
around $442 per ton (FOB), up about 2% per ton from around $433 per ton
recorded same time last year.
In December 2014,
Vietnam exported around 472,575 tons of rice, down about 13% from around
540,378 tons rice exported in December 2013, and down about 2.5% from around
484,513 tons rice exported in November 2014. Average export prices in December
2014 stand at around $475 per ton, up about 4% from a year ago, and up about 2%
per ton from a month ago.
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