Ghana
Trade Ministry Rules Out Total Rice Import Ban
Jan 26, 2015
Ghana's Ministry of Trade and
Industry ruled out a total rice import ban saying the decision would violate
the World Trade Organization (WTO) rules, according to local sources.The
Ministry responded to the call by the Small Scale Rice Dealers Association of
Ghana (SSIRDA- GH) to ensure an outright ban on rice importation or reconsider
ban on inland rice importation to protect the interests of small scale rice
traders from large foreign traders. The report quoted the Deputy Minister for
Trade and Industry as saying that the government is currently focussing on
achieving self-sufficiency in rice production as Ghana imports nearly 70% of
its consumption needs. He also noted that the government is striving to enhance
the quality of rice production.
Ghana imposed ban on inland rice
importation in November 2013 and said it would allow rice imports only through
the Kotoka International Airport (KIA), and Tema and Takoradi ports to restrict
rice smuggling and ensure that imported rice is levied with the proper import
duties and taxes.
The National Coordinator of
SSRIDA-GH noted that the current ban on inland rice importation is severely
impacting small scale rice traders and is favoring major players in the
industry. It is particularly encouraging foreign traders to dominate the local
rice industry as small traders do not have sufficient capital base to carry out
their businesses through air or sea.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.
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.
Oryza
Overnight Recap - Chicago Rough Rice Futures Tumble to New Lows Overnight and
Remain Below $11.000/cwt This Morning
Jan 26, 2015
Chicago rough rice futures for
Mar delivery are currently listed 8 cents per cwt (about $2 per ton) lower at
$10.925 per cwt (about $241 per ton) during early floor trading in Chicago. The
other grains are seen mostly lower: soybeans are currently seen 0.1% lower,
wheat is listed about 0.3% lower and corn is currently noted about 0.8%
lower.U.S. stocks fell on Monday, with telecommunications leading the drop, as
investors considered the results from Greek elections and winter weather in the
East Coast. In Greece, the anti-austerity Syriza party won 149 out of a 300
possible seats in Parliament.
In New York, officials urged residents to
remain indoors with blizzard conditions forecast. The Dow Jones Industrial
Average declined 0.2%, as did the S&P 500. The Nasdaq fell 0.3%.U.S. stocks
mainly fell on Friday, with the S&P 500 halting a four-session winning run,
as investors considered economic data, energy costs and a reduced 2014 earnings
estimate from United Parcel Service. Gold is currently trading about 0.9%
lower, crude oil is seen trading about 0.7% lower, and the U.S. dollar is
currently trading about 0.1% higher at 8:30am Chicago time.
Global Rice
Quotes
January
27th, 2015
Long
grain white rice - high quality
Thailand
100% B grade 415-425 ↔
Vietnam
5% broken 360-370 ↔
India
5% broken 395-405 ↔
Pakistan
5% broken 360-370 ↔
Cambodia
5% broken 435-445 ↔
U.S.
4% broken 495-505 ↔
Uruguay
5% broken NQ ↔
Argentina
5% broken NQ ↔
Long
grain white rice - low quality
Thailand
25% broken 365-375 ↔
Vietnam
25% broken 335-345 ↔
Pakistan
25% broken 320-330 ↔
Cambodia
25% broken 420-430 ↔
India
25% broken 360-370 ↔
U.S.
15% broken 485-495 ↔
Long
grain parboiled rice
Thailand
parboiled 100% stxd 410-420 ↑
Pakistan
parboiled 5% broken stxd 400-410 ↔
India
parboiled 5% broken stxd 390-400
↔
U.S.
parboiled 4% broken 550-560 ↔
Brazil
parboiled 5% broken 570-580 ↔
Uruguay
parboiled 5% broken NQ ↔
Long
grain fragrant rice
Thailand
Hommali 92% 920-930 ↔
Vietnam
Jasmine 470-480 ↔
India
basmati 2% broken NQ ↔
Pakistan
basmati 2% broken NQ ↔
Cambodia
Phka Mails 795-805 ↔
Brokens
Thailand
A1 Super 320-330 ↔
Vietnam
100% broken 310-320 ↔
Pakistan
100% broken stxd 290-300 ↔
Cambodia
A1 Super 345-355 ↔
India
100% broken stxd 295-305 ↓
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
Afternoon Recap - Chicago Rough Rice Futures Close Below $11.000/cwt as Selloff
Continues amid Lack of Demand
Jan 26, 2015
Chicago rough rice futures for
Mar delivery settled 12.5 cents per cwt (about $3 per ton) lower at $10.885 per
cwt (about $240 per ton). Rough rice futures slipped further, closing below
$11.000 per cwt (about $242 per ton) for the first time and have confirmed the
bearish setup noted on Friday. Today’s move adds further negativity to the
market and likely signals a continuation lower in coming sessions. Nearby
support is noted at the day’s low of $10.810 per cwt (about $238 per ton), a
level that traders will keep an eye on during tomorrow’s trading session. A
close lower will likely see prices continue the current trend of reduced
prices. The other grains finished the day with mixed results today; Soybeans
closed about 1.1% higher at $9.8350 per bushel; wheat finished about 1.8% lower
at $5.2050 per bushel, and corn finished the day about 0.7% lower at $3.8400
per bushel.
U.S. stocks wavered on Monday,
with an advance by energy companies neutralizing declines in technology as
investors mulled results from Greek elections and winter weather on the East
Coast. In Greece, the anti-austerity Syriza party won 149 out of a 300 possible
seats in Parliament. In New York, officials urged residents to remain indoors
with blizzard conditions forecast. The New York Stock Exchange said it planned
to run on a normal schedule. After falling more than 100 points, the Dow Jones
Industrial Average was lately off 33.08 points, or 0.2%, at 17,640.52. The
S&P 500 held steady at 2,052.11, with energy the best performing and
technology the worst of its 10 major industry groups. The Nasdaq gained 3.08
points, or 0.1%, to 4,760.93. Gold is trading about 1% lower, crude oil is seen
trading about 0.3% higher, and the U.S. dollar is seen trading about 0.1% lower
at about 1:00pm Chicago time.
Friday, there were 731 contracts
traded, down from 800 contracts traded on Thursday. Open interest – the number
of contracts outstanding – on Friday increased by 150 contracts to 8,896.
Japanese
Rice Variety Becomes Popular in China
Jan 26, 2015
Reports that nearly 16.1% of soil
in China is contaminated by heavy metals like Cadmium are inculcating fears
among the Chinese to use their locally produced rice, as it is also feared to
be contaminated with the metal, which is proven to damage liver and
kidneys.Officials from the Guangdong Province, supposed to be one of the rich
rice growing regions in the country, found that 44% of the rice samples grown
in this region contained excessive levels of Cadmium, according to local
source.
Pollutants from factories are
said to contaminate soil and water of many agricultural lands in China. Nearly
16.1% of soil in China is contaminated, according to a 2014 study by the
Ministry of Environmental Protection.Consumers have also been complaining of
Chinese farmers using more pesticides to increase yields. This they say has
been leaving pesticide residues leading to many health problems.
Chinese are of late preferring
Japanese grown rice as a safer alternative to locally grown rice. They told
local sources that Japanese rice is not polluted with heavy metals like Chinese
rice and Japanese farmers use less of pesticides compared to their Chinese
counterparts. Especially, Echizen rice variety that is considered to be free of
lead, cadmium, mercury, pesticides and other chemicals and is grown with water
from pure sources, has become more popular among the Chinese.
However, this variety of Japanese
rice is sold at much higher prices compared to the locally grown Chinese rice
and is found in very few stores and super markets, according to local sources.
They say Japanese rice sold at around 74 Yuan (around $12) per kilogram while
Chinese rice is sold at around 7.5 Yuan per kilogram (around $1.2).
Therefore Chinese rice producers
are encouraged to use the seeds of Echizen rice variety in their fields to meet
the rising demand, according to the Zhejiang Xinxie Yueguang Agricultural
Science and Technology.China is the largest rice consumer and importer in the
world. The Asian nation imported around 2.244 million tons of rice in the first
eleven months of 2014 (January - November), down about 1% from around 2.267
million tons imported during the same period last year, according to data from
China Customs General Administration.
Stunning
New Movie: “The Songs of Rice” by Thai Film Maker
Jan 26, 2015
As ubiquitous as rice is on
tables around the globe, there have been few movies made about the simple
grain.The latest film about rice, The Songs of Rice (“Pleng Khong Kao”) by Thai
filmmaker Uruphong Raksasad, just might be one of the best, with its stunning
visual images, vivid sound design, and simplistic approach. Critics
agree: it won the Fipresci Award at last year’s International Film Festival in
Rotterdam.The third agricultural film from Uruphong (the first two, Stories
from the North (2007) and Agrarian Utopia (2010) also feature impressive
camerawork and celebrate rural Thailand), The Songs of Rice takes the viewer on
a poetic tour of rice-growing villages in Thailand. But its focus isn’t
so much the rice as it is the traditions, spirituality, and livelihoods of
people who live in these rice regions.
Uruphong filmed up and down the
countryside, visiting places like Chon Buri, Hat Yai, Amnat Charoen, Roi Et, and
Loei to capture powerful images of people playing traditional instruments,
preparing somtum-and-sticky-rice, and dancing and singing with delight.One of
the most stunning visual sequences in the film features the bang-fai (rocket)
festival in Yasothon, where the viewer sees homemade rockets set off into the
sky. Because Uruphong omits any textual signifiers, this scene melds
seamlessly with the ones before and after it, so that the hula-hooping granny,
buffalo-driven beauty queen, and singing villagers all blur together to create
an impressionistic audiovisual collage that reflects the culture of this
rice-region.
Once the viewer has freed him- or
herself from expectations of a narrative, it’s easy to sit back and appreciate
the visual celebration Uruphong created. And that’s what this film is –
an audiovisual celebration of rice, an oft taken for granted crop whose
connection with Thai life is political, cultural, and spiritual, and this film
serves as an attempt to remind people that the simplest things in life are also
often the most beautiful.
Senegal
Imports 871,100 Tons of Rice First Eleven Months of 2014; Up 6% from last year
Jan 26, 2015
Senegal has imported around
871,100 tons of rice in the first eleven months (January - November) 2014, up about
6% from around 821,300 tons imported during the same period in 2013, according
to data from the Dakar-based Economic Analysis and Forecasts Branch (DEPEE).In
November 2014, Senegal imported around 81,200 tons of rice, down about 3% from
around 84,100 tons imported in October 2014.
The West African country is a net
importer of rice and imports about 80% of its annual rice consumption needs.
The government, like other West African governments, is keen on increasing
local rice production in the country and reduce the volume of imports. It
imports rice from India, Thailand and Vietnam.India's Export Import Bank (Exim
Bank) as till date extended financial assistance to the extent of about $269.36
million to the Senegal government through its Letter of Credit (LoC) mechanism
to support various export and development projects. USDA estimates
Senegal to produce around 289,000 tons of rice in MY 2014-15 (October -
September) and import around 1.15 million tons to meet the consumption needs of
around 1.45 million tons during the year.
Oryza
U.S. Rough Rice Recap - Prices Continue to Slide amid Limited Demand and
Increased Selling Interest
Jan 26, 2015
The U.S. cash market continues to
weaken in the face of limited demand and increased selling interest, especially
for nearby shipment.Analysts note that many sellers are looking to move their
rice before they get ready for planting next year’s crop; however, they are
finding it difficult to get bids as most buyers are well-covered.Many are now
just hoping that prices will stabilize if the U.S. is awarded at least a
portion of the latest Iraqi tender. We expect to have the results from that
tender on Thursday, January 29.
U.S.
State Department Urged to Promote Rice Exports to Iraq
Jan 26, 2015
U.S. farmers and members of the
Mississippi Congressional Delegation urged the Secretary of State to assist the
U.S. rice farmers and exporters in enhancing rice exports to Iraq, which have
been declining in recent times, Bloomberg quoted local media reports.U.S.
farmers, Senators and Mississippi State Representatives submitted a letter to
the State Secretary ahead of a new tender for 30,000 tons of rice to be floated
by the Iraqi Grain Board (IGB).
The letter stated that the IGB
had been rejecting the U.S. rice in recent times and preferring to buy
high-priced rice from other origins. It also noted that the IGB has been
rejecting the U.S. bids despite offering competitive bids, adding that the IGB
had provided no explanation for their decision. They cited the recent instance where
the IGB purchased 170,000 tons of rice from Thailand (80,000 tons), Uruguay
(60,000) and Brazil (30,000) and rejected bids from the U.S. despite offering
bids lower by about $24 per ton compared to the bids offered by Thailand,
Argentina, Brazil and Uruguay.
It urged the State Department to
convince the IGB officials to buy U.S. rice, including that from Mississippi,
for protecting the interests of the U.S. farmers as well as the U.S. rice
sector."The State Department has a responsibility to ensure our farmers
are not shut out of important markets for their products. I urge the
Administration to engage with the Iraqi government to help reopen its doors to
high-quality, affordable American-made rice," a Mississippi State
representative was quoted as saying. He noted that the State Department has an
obligation to seek fairness on the behalf of American rice producers.The
Mississippi state produced about 616,892 tons of rice worth $174 million in
2014, up about 514,077 tons worth $145 million tons produced in 2013.According
to the USDA, milled rice production in the U.S. is expected to increase to
around 7 (around 10 million tons, basis paddy) in MY 2014-15 (August - July),
export about 3.3 million tons of rice and import about 699,000 tons.
Vietnam
Adopts New Rice Cultivation Methods to Reduce Greenhouse Gas Emissions
Jan 26, 2015
The Institute for
Agricultural Environment (IAE) under the Ministry of Agriculture and Rural
Development (MARD) is promote new and efficient rice farming techniques that
will allow the reduction of greenhouse gas emissions from wet rice production
by 15-20% by 2020, according to local sources.
The IAE and the Philippines-based
International Rice Research Institute (IRRI) have launched a project on
"Reduced Methane Emissions in Wet Rice Cultivation in Vietnam".
Speaking at a conference held as part of the first phase of the Project
(October 2014 - June 2016) on January 23, 2014, the Director of the IAE stated
that the Institute is planning to promote the use of System of Rice Intensification
(SRI), which is a proven method to increase productivity, quality and economic
effectiveness. It also reduces the use of pesticides and nitrogenous
fertilizers.
However, some speakers pointed
out some problems related with the implementation of SRI in Vietnam. Conditions
such as unfavorable terrain in most rice growing regions, fragmented rice
fields and a lack of coordination between irrigation staff and farmers are
likely to pose challenges to SRI implementation.The IAE Director also noted that
the Alternate Wetting and Drying (AWD) method has already been introduced in
several rice growing regions under the first phase of the project on reducing
Methane in wet rice cultivation.The project coordinator noted that efficient
irrigation methods can help effective implementation of AWD and thereby reduce
greenhouse gas emissions more effectively. He added that the Institute is
currently in the process of gathering data on land and infrastructure in each
province in order to prepare a water-efficient irrigation map, which can show
which lands are suitable for implementing AWD as all lands are not suitable for
implementing this technology.The second phase of the project is likely to
consider more technologies, said the speakers.
Thai Commerce Ministry and Exporters to Jointly
Promote Rice Exports to New Prospective Markets
Jan 26, 2015
Thai Commerce Ministry and the
Thai Rice Exporters Association (TREA) are planning to carry out business
missions to potential new rice import markets such as Iran, Iraq and other
Middle East nations as part of efforts to promote Thai rice exports amid fears
that falling oil prices would affect the purchasing power of major importers
and consequently their purchases of Thai rice, according to local sources.The
TREA President was quoted as saying that Thailand needs to aggressively push
its rice exports to potential new importers to maintain its pace of exports.
Increasing global rice supplies as well as stiffening competition with other
rice exporters, including India, Vietnam and Pakistan, are also said to be
posing challenges to Thailand, which is planning to export about 11 million
tons of rice this year.
The TREA President noted that
falling oil prices may prompt major rice importing countries such as Nigeria,
which depend on oil exports, to cut down on their imports. This short fall has
to be compensated by sales to newer markets, according to him.The Commerce
Minister will reportedly visit Hong Kong, the UAE, Kuwait, Oman, Egypt, Italy
and Indonesia to promote Thai rice. The Commerce Ministry and the TREA is
planning to particularly promote rice exports to Iran, which suspended imports
from Thailand in 2013 following a defaulted contract with a private Thai rice
exporter. He told local sources, they would make of the current situation to
again revive rice trade with the Middle East nation.
The TREA President noted that
they are expecting Thai rice export prices to be steady this year. Currently,
export prices of Thai 5% rice stand at around $410 per ton compared to around
$370 per ton of Viet 5% rice, around $400 per ton of India 5% rice, around $365
per ton of Pakistan 5% rice and around $415 per ton of Myanmar 5% rice.Thailand
exported around 10.8 million tons of rice in 2014, up about 64% from around 6.6
million tons in 2013.
Vietnam
Rice Sellers Lower Their Quotes Today; Other Asia Rice Quotes Unchanged
Jan 26, 2015
Vietnam rice sellers lowered most
of their quotes by about $5 per ton today. Thailand and Pakistan rice sellers
kept their quotes mostly unchanged. India rice sellers are out today due to
national holiday.
5% Broken Rice
Thailand 5% rice is quoted at
around $405 - $415 per ton, about $45 per ton premium on Vietnam 5% rice shown
at around $360 - $370 per ton, down about $5 per ton from Friday. India 5% rice
was last quoted at around $395 - $405 per ton, about $35 per ton premium on
Pakistan 5% rice quoted at around $360 - $370 per ton.
25% Broken Rice
Thailand 25% rice is quoted at
around $365 - $375 per ton, about $30 per ton premium on Vietnam 25% rice shown
at around $335- $345 per ton, down about $5 per ton from Friday. India 25% rice
was last quoted at around $360 - $370, about $40 per ton premium on Pakistan
25% rice quoted at around $320 - $330 per ton.
Parboiled Rice
Thailand parboiled rice is quoted
at around $405 - $415 per ton. India parboiled rice was last quoted at around
$390 - $400 per ton, about $10 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 $320 - $330 per ton, about $10 per ton premium on Vietnam
100% broken rice shown at around $310 - $320 per ton, down about $5 per ton
from Friday. India's 100% broken rice was last shown at around $300 - $310 per
ton, about $10 per ton premium on Pakistan broken sortexed rice quoted at
around $290 - $300 per ton.
Vietnam
Exports About 65,780 Tons Rice During January 1 – 22, 2015
Jan 26, 2015
Vietnam exported about 65,780 tons of rice in January 1 -
22, 2015, down about 79% from about 307,255 tons of rice exported in full month
of January 2014 and down about 86% from about 472,575 tons of rice exported in
December 2014, according to data from the Vietnam Food Association (VFA).
Average rice export price so far in this year stands at about $468 per ton
(FOB), up about 13% per ton from same time last year and down about 2% from
last month .Vietnam exported about 6.316 million tons of rice in 2014,
according to the VFA.
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