Fiji Seeks Support from India to Revamp its Rice Sector
Jan 27, 2015
Global Rice Quotes
January 28th, 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 355-365
↓
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 330-340
↓
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% 925-935
↑
Vietnam Jasmine 475-485
↑
India basmati 2% broken NQ
↔
Pakistan basmati 2% broken NQ
↔
Cambodia Phka Mails 795-805
↔
Brokens
Thailand A1 Super 320-330
↔
Vietnam 100% broken 305-315
↓
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
Brazil Paddy Rice Index Increases Slightly from Last Week
Jan 27, 2015
The Brazilian paddy
rice index maintained by the Center for Advanced Studies on Applied Economics
(CEPEA) reached around 38.42 real per 50 kilograms as of January 26, 2015, up
about 0.05% from around 38.4 real per 50 kilograms recorded on January 20,
2015.In terms of USD per ton, the index reached around $296 per ton on January
26, 2015, up about 1% from around $293 per ton recorded on January 20, 2015.
Madagascar Imports 363,424 Tons of Rice in 2014; Down 11% from Last Year
Jan 27, 2015
Oryza.com -
Madagascar imported
around 363,423 tons of rice in 2014, down about 11% from around 410,373 tons
imported in 2013, according to local sources.
Madagascar produced
around 4.3 million tons of rice in 2014, up about 19% from around 3.6 million
tons produced in 2013 due to well distributed rains in the 2013-14 cropping
season.
An
anti-locust campaign by the government and the Food and Agricultural
Organization (FAO), which began in November 2013, provided fruitful results. A
Rice area of around 1.2 million hectares was treated and the campaign largely
prevented the spread of locust plague thereby limiting large crop losses,
according to the FAO.Average rice prices of local rice and imported rice
started increasing after they declined for four consecutive months from March
2014. Generally prices in 2014 have been lower than those in 2013 due to
improved supplies.
Average
prices of imported rice in December 2014 stood at around 1.32 million Malagasy
Ariary (around $510), up about 2% from around 1.3 million Malagasy Ariary
(around $480) in November 2014 and down about 4% from around 1.38 million
Malagasy Ariary (around $620) in December 2013. Average prices of local rice in
December 2014 stood at around 1.29 million Malagasy Ariary (around $490), up
about 2% from around 1.28 million Malagasy Ariary (around $470) in November
2014 and down about 9% from around 1.41 million Malagasy Ariary (around $630)
in December 2013.
Myanmar Plans to Export 2.5 Million Tons of Rice in FY 2015-16; Up 67% from
2014-15
Jan 27, 2015
The
government is keen on increasing rice exports to the European Union, Japan and
Africa along with China, according to the MRF. Exporters are planning to
increase parboiled rice exports in 2015-16. They exported around 914,969 tons
of parboiled rice worth $343 million in 2014, according to data from the
Commerce Ministry.Currently, Myanmar government and the MRF are negotiating
with the Chinese authorities to begin legal exports to China from April 2015.
About
nine exporting companies have been permitted to export rice to China. The China
Certification & Inspection Group (CCIC) will open offices in Yangon,
Mandalay and Muse to monitor the quality of Myanmar rice before exporting to
China, according to MRF officials. China has officially ordered 2 million tons
of rice in 2015 and quality inspection is likely to begin by the end of January
2015, according to the Joint Secretary of the MRF.
The government is
keen on increasing rice exports to around 3 million tons over the next few
years and has announced plans to prioritize rice in its National Export
Strategy.
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).
Oryza Overnight Recap - Chicago Rough Rice Futures Look to Recover
Overnight and Return to $11.00/cwt Mark
Jan 27, 2015
Chicago rough rice
futures for Mar delivery are currently listed 11.5 cents per cwt (about $3 per
ton) higher at $11.000 per cwt (about $243 per ton) ahead of floor trading in
Chicago. The other grains are all seen higher: soybeans are currently seen a
tick higher, wheat is listed about 0.2% higher and corn is currently noted
about 0.2% higher.
U.S.
stocks index futures furthered already steep declines after data had orders for
U.S. durable goods unexpectedly falling in December, adding to a bearish view
as corporate earnings disappointed. Earnings season is poised to gather steam
this week, with some of Wall Street's biggest names lined up to report. Apple
releases its earnings after the close on Tuesday, with analysts expecting the
tech firm to beat consensus. Poor weather conditions have brought New York and
other areas in the north-east to a standstill; however extreme forecasts have
been downgraded, with some meteorologists predicting less snowfall than
initially expected.
The
travel ban on all non-emergency vehicles enforced in New York City and
surrounding counties on Monday night, was lifted early on Tuesday. Also due for
release will be the Conference Board's consumer confidence index for January at
10:00 am ET, which is expected to record its sixth consecutive monthly rise to
a new post-crisis high. In Europe, the new anti-austerity Greek prime minister
Alexus Tsipras was sworn in Monday and is set to meet with finance ministers
from his fellow euro zone countries to begin negotiations on financial support
and debt repayments. Gold is currently trading about 0.6% higher, crude oil is
seen trading about 0.4% higher, and the U.S. dollar is currently trading
about 0.5% lower at 8:30am Chicago time.
Oryza U.S. Rough Rice Recap - Prices Hold Steady ahead of IGB Tender
Announcement
Jan 27, 2015
The U.S. cash market
was unchanged today with little to no trading to report.Market participants are
eagerly awaiting the results of the latest Iraqi tender which will be announced
later this week as it very well could determine the direction of U.S. rice
prices in the near term.Confidence that the U.S. will be awarded remains
limited; however, some are hopeful that renewed political pressure on the Iraqi
Grain Board could lead to more business.
Mali 2014 Paddy Rice Production Estimated at 2.3 Million Tons; Up 4% from
Last Year
Jan 27, 2015
The
UN's Food and Agricultural Organization (FAO) has forecasted Mali 2014 paddy
rice production at around 2.3 million tons (around 1.55 million tons, basis
milled), up about 4% from around 2.2 million tons in 2013. Though most parts of
the country witnessed erratic and below-average rains until mid-July, rainfall
improved from the last week of July leading to better crop conditions,
according to the FAO.
Harvesting
of the 2014 rice crops is about to conclude and the country's National
Agricultural Statistics Service is forecasting above-average harvest this
year.Mali's agriculture sector had been affected seriously in recent times due
to civil strifes, labor shortages and lack of agricultural support services. These
problems coupled with lower rainfall affected the production of all cereals,
including maize and millets, in 2013. However, paddy rice production increased
by about 15% to around 2.2 million tons from around 1.9 million tons in 2012.
Rice
prices (both imported and local) remained stable since last few months due to
ample regional supplies from guinea, Ivory Coast and Burkina Faso as well as
local harvests. In Mali's capital city, Bamako, average wholesale prices of
imported rice in January 2015 remained at their October 2014 levels of around
329,999.99 CFA Franc (around $594) per ton, and unchanged from their year ago
levels. Average wholesale prices of local rice also remained unchanged from
their November levels of around 324,999.99 CFA Franc (around $585) per ton, and
unchanged from their year ago levels.
According to the
FAO, food security in the nation has been severely impacted due to last year's
civil strifes and most people need food and non-food assistance to help them
restore their livelihoods.
USDA estimates Mali
to produce around 2 million tons of paddy (around 1.35 million tons, basis
milled) and import around 150,000 tons of rice in MY 2014-15 (October -
September) to meet a consumption demand of around 1.5 million tons.
Oryza Afternoon Recap - Chicago Rough Rice Futures Erase Losses Sustained
Yesterday but Close Far from Overnight High to Finish Below $11.000/cwt for
Third Consecutive Session
Jan 27, 2015
Chicago
rough rice futures for Mar delivery settled 8.5 cents per cwt (about $2 per ton)
higher at $10.970 per cwt (about $242 per ton). Rough rice futures recovered
slightly today, but were unable to close near session highs or above $11.000
per cwt (about $242 per ton) a level that is seen as psychologically
significant. This point will act as resistance to further attempts by bulls to
mount a recovery from steep recent losses. Although prices did rally to a 34.5
cent per cwt (about $8 per ton) gain overnight, its inability to hold these
gains diminishes its importance and the current bearish trend remains intact
and the outlook remains for lower prices in coming sessions.
It
is likely that only a firm uptick in demand will likely spark a reversal
higher. The other grains finished the day in the red; Soybeans closed about 1%
lower at $9.7475 per bushel; wheat finished about 0.3% lower at $5.1900 per
bushel, and corn finished the day about 0.7% lower at $3.8125 per bushel.U.S.
stocks dropped sharply on Tuesday, with the Dow positioned for its worst hit
since October, as corporations reported earnings that disappointed and orders
for U.S. business equipment unexpectedly declined in December. Orders for
business equipment fell 3.4% last month, illustrating the impact of the slowing
global economy on U.S. multinationals. Consumer confidence came in at 102.9 in
January, the best read since August of 2007, while new-home sales came in at
481,000 in December. Separately, home prices in 20 cities rose 4.3% in
November, according to the S&P/Case-Shiller index of property values.
After
dropping nearly 400 points, the Dow Jones Industrial Average was lately down
254.56 points, or 1.4%, at 17,324.14. The S&P 500 dropped 21.31 points, or
1%, to 2,035.78, with technology, industrials and materials the leading
laggards among its 10 major sectors. The Nasdaq shed 64.41 points, or 1.4%, to
4,707.35. Gold is trading about 1.1% higher, crude oil is seen trading about
1.7% higher, and the U.S. dollar is seen trading about 0.7% lower at
about 1:00pm Chicago time.Monday, there were 555 contracts traded, down
from 731 contracts traded on Friday. Open interest – the number of contracts
outstanding – on Monday increased by 174 contracts to 9,070.
Rice Crop in Portugal’s Baixo Mondego Area Devastated by Rice Blast; Paddy
Prices Said to be Below Cost
Jan 27, 2015
Rice
blast (Pyricularia Oryzae) has reportedly devastated Portuguese paddy
production in the region of Baixo Mondego, where about 25% of total domestic
production is concentrated. Rice farmers of this area say 30-70% of 2014 crop
has been lost.Farmers have asked the government for compensation for the
damages caused by rice blast; damages are estimated at about 13 million euros
(about $ 14.6 million). The problem has intensified in the latest three years,
because of excessive dampness and lack of sunlight.
Farmers are also asking for financial support
because Portuguese rice prices are depressed; on January 20 quotations for Long
B paddy varieties were fixed at 287 euros (about $ 322) per ton, and for Long A
paddy at 308 euros (about $ 346) per ton. Isménio Oliveira, head of Portuguese
Rice producers, says production costs are around 350 euros (about $ 393) per
ton so current quotations are not granting farmers any profit.In 2014, the
total acreage for Portuguese rice production reached about 27,500 hectares,
including: about 7,000 hectares located in Baixo Mandego; 20,000 hectares in
Sado and Sorraia Valleys; and about 500 hectares in Vouga Valley.
Spanish Farmers Bemoan Higher Fertilizer Prices, Despite Falling Crude Oil
Prices
Jan 27, 2015
In
Spain, the cost of fertilizers and herbicides for agriculture has increasing
over the last six months, despite lower crude oil prices. Miguel Blanco, the
general secretary of the Coordination of Organizations of Farmers and Ranchers
of Spain (COAG) said that Spanish farmers cannot take advantage of lower
crude oil prices, blaming high fertilizer and herbicide prices on price
speculation in the industry.
A
study by COAG showed that during the latter half of 2014 while prices of of
Brent crude oil futures declined 46% and prices of gas futures fell 25.5% the
price of urea registered an increase of 14%, passing from 38.7 euros (about $
43) per 100 kgs in July 2014 to 44 euros (about $ 49) per 100 kgs in December
2014. Meanwhile the price of other fertilizers followed this same trend; prices
of DAP (diammonium phosphate) increased by 21.4% over that period and the costs
of ammonium nitrate rose by 10.6%.
In
2014, in order to get a production valuable 1 euro (about $ 1.12) Spanish
farmers had to spend 0.49 euros in chemical supplies, the highest level since
1990.The Ministry of Agriculture summoned a meeting on February 12 to monitor
the cost of energy and of chemicals habitually used in agriculture.
Taiwan Imports 9,100 Tons of Rice from U.S. Under 2015 CSQ SBS Tender
Jan 27, 2015
About 18,000 tons
will be tendered in the second tranche SBS tender of the 2015 U.S. rice CSQ,
the date for which is still not specified. Remaining 29,034 tons of rice will
be imported under the 2015 U.S. rice CSQ normal tender scheme, according to the
Post. Taiwan has to still complete the 2014 U.S. rice CSQ.
The Post also
reports that Taiwan also tendered for about 2,000 tons of rice under Thai 2015
CSQ on the same day, and allotted around 570 tons, 800 tons, 500 tons and 130
tons to four bidders at around NT$7.066 per kilogram (around $222.74 per
ton).Taiwan will import about 64,634 tons of rice from the U.S., about 2,500
tons from Egypt, about 8,300 tons from Thailand, and about 18,634 tons from
Australia in 2015 under their respective CSQs.
Philippines Plans to Import 500,000 Tons of Rice in Government-to-Government
Deals
Jan 27, 2015
The
NFA imported more than 1.8 million tons of rice (including 1.5 million tons of
2014 imports and 300,000 tons of 2013 residual imports) in 2014 to replenish
rice stocks and control price hikes. Of these, 187,000 tons were allowed to be
imported by private traders at 35% duty under the government's Minimum Access
Volume (MAV) - Omnibus Rice Importation programme.According to Reuters, the NFA
Secretary has not revealed any plans of imports.
USDA
estimates the Philippines to import around 1.6 million tons of milled rice in
2015, up about 10% from an estimated 1.45 million tons in 2014. USDA estimates
the South-East Asian nation to produce around 19.36 million tons of paddy
(around 12.2 million tons, basis milled) in MY 2014-15 (July - June), up about
3% from an estimated 18.82 million tons (around 11.86 million tons, basis
milled) in MY 2013-14.
Thailand Rice Sellers Increase Some of Their Quotes; India Rice Sellers
Lower Some of Their Quotes Today
Jan 27, 2015
Thailand rice
sellers increased their quotes for parboiled rice by about $5 per ton to around
$410 - $420 per ton today. India rice sellers lowered their quotes for 100%
broken rice by about $5 per ton to around $295 - $305 per ton. Other Asia rice
quotes mostly unchanged today.
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. India 5% rice is 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. India 25% rice is 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 $410 - $420 per ton, up about $5 per ton from
yesterday. India parboiled rice is 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.
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 premium on Pakistan broken
sortexed rice quoted at around $290 - $300 per ton.
Taiwan and IRRI Collaborate to Augment Rice Research
Jan 27, 2015
Taiwan's Council of
Agriculture (CoA) and the Philippines-based International Rice Research
Institute (IRRI) have collaborated to carry out rice and other related
agricultural research, according to local sources.Both the COA and the IRRI
signed a Memorandum of Understanding (MoU) in this regard on January 26, 2015.
Both sides have agreed to promote rice research as well as collaborate on rice
breeding and varietal improvement, according to the MoU.
The COA Deputy
Minister was quoted as saying that they would contribute their experiences with
best practices in rice cultivation to the IRR's pool of knowledge. They would
also work towards the development of newer rice production techniques for the
benefit of rice producing countries in East Asia.Taiwan has been closely
associated with the IRRI for a number of years and the current MoU would allow
the COA and the IRRI to engage in advanced cooperation and take relations to
the next level, according to the IRRI Director General.
Taiwan produces
about 85% of its annual rice consumption needs of about 1.3 million tons and
imports the rest. USDA estimates Taiwan to produce around 1.13 million tons of
rice, basis milled, in MY 2014-15 (January 2015 - December 2015) and import
around 125,000 tons.
USDA Post Forecasts Argentina 2015 Rice Exports at 580,000 Tons, Down
3% from Last Year
Jan 27, 2015
USDA Post estimates
Argentina to export around 580,000 tons of milled rice in 2015, down about 3%
from an estimated 600,000 tons exported in 2014 and down about 3% from the
official USDA estimates of about 600,000 tons. The decline is attributed to a
slight decline in the paddy rice output in MY 2013-14 (April 2014 - March 2015)
Harvesting of the
2014 crop has begun. Cloudy weather during the flowering stage as well as
floods from the Corrientes river are likely to lower the paddy output to a
certain extent, according to the USDA Post. The Post forecasts Argentina's MY
2013-14 (April 2014 - March 2015) paddy rice production at around 1.462 million
tons (around 950,000 tons, basis milled), down about 6% from around 1.56
million tons (around 1.014 million tons, basis milled) in MY 2012-13
However, the USDA
Post forecasts Argentina's MY 2014-15 (April 2015 - March 2016) paddy rice
production at around 1.5 million tons (around 975,000 tons, basis milled), up
about 3% from an estimated 1.46 million tons (around 950 million tons, basis
milled) in MY 2013-14 due a slight increase in planting area.The Post estimates
Argentina's paddy planting area to in to around 236,000 hectares in MY 2014-15,
up about 2% from around 232,000 hectares in MY 2013-14.
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