Asia Rice Quotes Mixed Today
Jan 28, 2015
Thailand
rice sellers increased their quotes for Hommali rice by about $5 per ton to
around $925 - $935 per ton today. Vietnam rice sellers lowered their quotes for
25% broken rice and 100% broken rice by about $5 per ton each to around $330 -
$340 per ton and around $305 - $315 per ton respectively and increased their
quotes for Jasmine rice by about $5 per ton to around $475 - $485 per ton.
Pakistan rice sellers lowered their quotes for 5% broken rice by about $5 per
ton to around $355 - $365 per ton. India 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 $40 per ton premium on Pakistan 5% rice
quoted at around $355 - $365 per ton, down about $5 per ton from yesterday.
25% Broken Rice
Thailand 25%
rice is quoted at around $365 - $375 per ton, about $35 per ton premium on
Vietnam 25% rice shown at around $330- $340 per ton, down about $5 per ton from
yesterday. 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. 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 $15 per
ton premium on Vietnam 100% broken rice shown at around $305 - $315 per ton,
down about $5 per ton from yesterday. India's 100% broken rice is shown at
around $295 - $305 per ton, about $5 per ton premium on Pakistan broken
sortexed rice quoted at around $290 - $300 per ton.
Global Rice Quotes
January 29th, 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 ↔
Myanmar 5% broken 410-420 ↔
Cambodia 5% broken 440-450 ↔
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 785-795 ↓
Brokens
Thailand A1 Super 320-330 ↔
Vietnam 100% broken 305-315 ↔
Pakistan 100% broken stxd 290-300 ↔
Cambodia A1 Super 350-360 ↑
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
India Government Has Adequate Rice Seeds for 2015 Kharif
Season
Jan 28, 2015
All the state governments were urged to use
certified and quality seeds to increase the productivity of rice and other
cereals. They are also encouraged to be aware of the farmers' rights and
existing legislation to help them benefit from it.USDA estimates India's
2014-15 (October - September) production at around 102 million tons, down about
4% from an estimated 106.54 million tons in 2013-14. It estimates India’s rice
exports to decline about 16% y/y to around 8.7 million tons in MY 2014-15.
Oryza Overnight Recap - Chicago Rough Rice Futures
Continue to Flirt with $11.000/cwt Mark
Jan 28, 2015
Chicago rough rice futures for Mar delivery
are currently listed 2.5 cents per cwt (about $1 per ton) higher at $10.990 per
cwt (about $242 per ton) during early floor trading in Chicago. The other
grains are all seen lower: soybeans are currently seen about 0.6% lower, wheat
is listed about 1.8% lower and corn is currently noted about 0.9% lower.U.S.
stocks climbed on Wednesday, a day after the S&P 500 took its biggest hit
in more than three weeks, as upbeat earnings from companies including Apple
boosted investor sentiment. On Wednesday afternoon, the Federal Reserve
concludes its first two-day policy session of 2015, with the central bank
expected to indicate that it remains on track to start raising interest rates
later in the year.
The
Dow Jones Industrial Average gained 43.70 points, or 0.2%, to 17,430.91. The
S&P 500 added 8.58 points, or 0.4%, to 2,038.13, with technology the best
performing sector and energy the worst of its 10 major industry groups. The
Nasdaq rose 40.05 points, or 0.9%, to 4,721.66. On Tuesday, U.S. stocks dropped
sharply as corporations reported earnings that disappointed and orders for U.S.
business equipment unexpectedly declined in December. Gold is currently trading
about 0.5% lower, crude oil is seen trading about 2.3% lower, and the
U.S. dollar is currently trading about 0.2% higher at 8:30am Chicago time.
Oryza Afternoon Recap - Chicago Rough Rice Futures Tumble
as Grains Feel Pressure from Fresh Lows in Crude Prices
Jan 28, 2015
Chicago rough rice futures for Mar delivery
settled 23.5 cents per cwt (about $5 per ton) lower at $10.735 per cwt (about
$237 per ton). Rough rice futures charted another leg lower as prices collapsed
during afternoon trading. The market has fallen to a fresh contract low as the
buyers who were noted yesterday were absent and the bears once again gained
control of price direction. Today’s move has confirmed the bearish signal noted
yesterday as the market was unable to maintain its placement above $11.000 per
cwt (about $242 per ton), and adds further bearishness to the forecast for
coming sessions.
Trade participants are now calling for
prices to test $10.500 per cwt (about $231 per ton) before long, with many not
eager to begin buying above the low $10.000 per cwt (about $220 per ton) area.
The other grains finished the day sharply lower; Soybeans closed about 0.4%
lower at $9.7025 per bushel; wheat finished about 2.7% lower at $5.0525 per
bushel, and corn finished the day about 2.1% lower at $3.7325 per bushel.U.S.
stocks declined on Wednesday afternoon, a day after the S&P 500 took its
biggest hit in more than three weeks, as investors considered a patient Federal
Reserve and oil's fall overrode upbeat earnings from Apple.
The Federal Open Market Committee stuck to
its vow to be "patient" on hiking interest rates and raised its view
of the economy and labor market, even as the central bank said it anticipates
inflation to fall further in the near term. On Wednesday afternoon, the Federal
Reserve concludes its first two-day policy session of 2015, saying the timing
of rate hikes depends on economic data. After rising 97 points and falling 84,
the Dow Jones Industrial Average was lately off 62.95 points, or 0.4%, to
17,319.26. The S&P 500 fell 10.94 points, or 0.6%, to 2,016.61, with
technology the best performing and energy the worst of its 10 major industry
groups.
The Nasdaq also wavered, lately down 12.71
points, or 0.3%, at 4,668.79. Gold is trading about 0.5% lower, crude oil is
seen trading about 4.1% lower, and the U.S. dollar is seen trading about 0.7%
higher at about 1:00pm Chicago time.Tuesday, there were 412 contracts
traded, down from 555 contracts traded on Monday. Open interest – the number of
contracts outstanding – on Tuesday decreased by 22 contracts to 9,048.
Oryza U.S. Rough Rice Recap - Cash Values Dip ahead of
IGB Tender Announcement
Jan 28, 2015
The U.S.
cash market was materially weaker today falling in tandem with the futures
market ahead of the Iraqi Grain Board tender results expected tomorrow.Analysts
note that the sell-off in the futures market could be a signal that some market
participants believe that Iraq with either pass on U.S. origin or cancel the
tender all together.At the current cash values farmers are not enthusiastic
sellers however many are finding it difficult to get bids as buy interest
remains very limited, especially for export.
Nigerian Naira Depreciation Linked to Increasing Rice
Imports, Claims Central Bank Governor
Jan 28, 2015
Increasing imports of several products,
including rice, are putting a downward pressure on the country's currency,
local sources quoted the Governor of the Central Bank of Nigeria (CBN) as
saying.Speaking
in a meeting with the private sector, the Governor noted that the bank has
decided not to provide foreign exchange to support for the importation of rice
and other commodities, which can be grown in Nigeria locally. He reiterated the
need for cutting down imports to reduce downward pressure on the Naira, which
has depreciate by about 8% to around N167.5/USD from around N155.2/USD during
the last one year, according to data from the CBN.
The CBN Governor also stressed to reduce
imports of items such as consumables that are not really necessary for the
nation. He urged the Nigerians to strengthen manufacturing sector for meeting
the local demand as well as for exports.He however, assured that the $10
billion reserves with the CBN will presently help save the currency from
devaluation. The reserves have also helped the nation survive the oil price
crash, he added. The recent decline in oil prices is posing problems to
Nigeria as it mostly relies on the foreign exchange income earned from oil
exports to finance its imports of essential commodities such as rice.
Nigeria is a net importer of rice and
imports over 50% of its annual rice consumption needs. USDA estimates the
country to produce 2.55 million tons of milled rice in the MY 2014-15 (October
2014 - September 2014) and import about 3.5 million tons. The country's
consumption needs during the year are estimated at around 6.1 million tons.
Philippines Buffer Stocks Fall Below Requisite Norm
Jan 28, 2015
The NFA is
likely to decide on the volume and schedule of imports next week, according to
the NFA Administrator. He told local sources in December 2014 that the NFA is
still authorized to import 500,000 tons of rice. It is likely that the NFA
would exercise its authority and import 500,000 tons this year to serve as
buffer stock during the lean season (June - August). Yesterday, a source from the
NFA hinted that the government may import rice under Government-to-Government
(G2G) deals.
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.
The
Philippines Statistics Authority (PSA) estimates the country's paddy rice
output in the first six months (January - July) at around 8.55 million tons, up
about 2.02% from around 8.38 million tons produced during the same period in
2014. It is estimating the Philippines' paddy rice output in the first three months
(January - March) of 2015 at around 4.59 million tons, up about 6.62% from
around 4.31 million tons during the same period last year.
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.
Political Turmoil Hinders Libyan Rice Import Tenders
Jan 28, 2015
Ongoing political turmoil and consecutive
payment problems are said to hinder rice purchases by a Libyan state grain
buying agency through tenders, according to Reuters.The agency reportedly
tendered to buy about 25,000 tons of 5% broken rice packaged in 25 kilogram
bags and 50,000 tons of milling wheat on January 14, 2015. However, due to
payment problems, the agency could not make any purchases so far, European
traders were quoted as saying.It is understood to have made payment to a trader
through a bank in the neighboring country Tunisia, but since it did not work
out, it is again trying to make the payment through a local bank.
Trials by two governments trying to seek
control of Libya four years after the toppling of the former leader Muammar
Gaddafi are severely affecting commercial activities in the country, according
to local sources.Libya does not produce rice and imports all the rice needed
for domestic consumption. USDA estimates Libya to import around 310,000 tons of
rice in 2015, up about 3% from around 300,000 tons imported in 2014.
Sierra Leone 2015 Rice Imports Estimated at 215,000 Tons;
Slightly Up from 2014
Jan 28, 2015
The government's measures to control the
outbreak of EVD, including border closures, quarantine measures and other restrictions
to control the spread of the virus, led to shortfalls in labour and
agricultural inputs leading to a decline in production.According to the FAO,
the significant impact of Ebola on export earnings of the country is likely to
impact imports. Prices of imported rice remained stable during the last few
months except in few localized areas reflecting low trading activity and high
transport costs.USDA estimates Sierra Leone to produce around 693,000 tons of
rice, basis milled, and import around 220,000 tons in MY 2014-15 (October -
September) to meet consumption needs of around 913,000 ton.
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