Vietnam Urged to Lead Rice Research in Southeast Asia
Jan 30, 2015
China's Agricultural Products are "Generally Safe
and Reliable," Says Agriculture Ministry Official
Jan 29, 2015
Oryza Afternoon Recap - Chicago Rough Rice Futures Rally
on Pit Open but Give Back Most of the Gains Earned by Close of Session
Jan 29, 2015
Chicago rough rice futures for Mar delivery
settled 12.5 cents per cwt (about $3 per ton) higher at $10.860 per cwt (about
$239 per ton). The other grains finished the day with mixed results; Soybeans
closed about 0.2% lower at $9.6825 per bushel; wheat finished about 0.5% higher
at $5.0875 per bushel, and corn finished the day about 0.5% lower at $3.7150
per bushel.U.S. stocks gained on Thursday, bouncing back from a a two-day rout,
as investors mulled earnings from corporations including Ford Motor and data
that had a less-than-expected number of Americans filing for unemployment
benefits.
Stock futures added to gains after the
Labor Department reported jobless claims dropped by 43,000 to 265,000 last
week, fewer than forecast and the lowest number in nearly 15 years. However,
the week included the Martin Luther King holiday, increasing the volatility of
the numbers. Stocks offered muted reaction to another report that had
pending-home sales dropping 3.7% in December. After falling as much as 55
points and rising 147, the Dow Jones Industrial Average was lately up 128.47
points, or 0.7%, at 17,319.84.
Reversing after a drop under 2,000, the
S&P 500 added 7.33 points, or 0.4%, to 2,009.49, with utilities leading
gains and energy the sole laggard among its 10 major sectors. The Nasdaq
advanced 10.03 points, or 0.2%, to 4,647.96. Gold is trading about 2.4% lower,
crude oil is seen trading about 1.4% lower, and the U.S. dollar is seen trading
about 0.4% higher at about 1:30pm Chicago time.Wednesday, there were 772
contracts traded, up from 412 contracts traded on Tuesday. Open interest – the
number of contracts outstanding – on Wednesday increased by 6 contracts to
9,054.
Global Rice Quotes
January 30th, 2015
Long grain white rice - high quality
Thailand 100% B grade 415-425 ↔
Vietnam 5% broken 355-365 ↓
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 325-335 ↓
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 460-470 ↓
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
Oryza Global Weather Outlook
Jan 29, 2015
Rain showers
are expected across the Yangtze Valley and some parts of western-south China this week.
Rice planting is expecting to begin in March.
Light rain
is expected across northern India this week.
A few rain
showers are expected across northern Pakistan this week.
Weather is
expected to remain dry in Bangladesh.
In Indonesia, rain is
expected across central and southern Sumatra, Kalimantan, East Malaysia,
Sulawesi, and Java this week, beneficial for the main season rice there.
A few
showers are expected in central and northern Vietnam this week.
Weather is
expected to remain dry in Thailand, favouring second season rice planting
there.
Light rain
is expected in south-eastern Philippines this week, maintain abundant moisture but
continue to slow second crop harvesting there.
Rain is
expected across central portions of centre-south Brazil this week,
with a few showers also expected in north-western portions of the Northeast
Brazil. Dryness is continue in much of the northeast, stressing early growth of
the rice there.
A few rain
showers are expected across much of the region in Argentina and Uruguay this week,
maintaining abundant moisture there.
In the U.S., rain
showers are expected across much of the Mississippi River Delta this week. Rice
planting is expecting to begin in April.
Oryza Overnight Recap - Chicago Rough Rice Futures Rocket
Higher as Trader Sentiment Turns Bullish
Jan 29, 2015
Chicago rough rice futures for Mar delivery
are currently listed 23 cents per cwt (about $5 per ton) higher at $10.965 per
cwt (about $242 per ton) during early floor trading in Chicago. The other
grains are all seen lower: soybeans are currently seen about 0.1% lower, wheat
is listed about 0.1% lower and corn is currently noted about 1.1% lower.U.S.
stocks dropped on Thursday, extending a two-day rout, as investors mulled
earnings from corporations including Ford Motor and data that had a
less-than-expected number of Americans filing for unemployment benefits.
Stock futures added to gains after the
Labor Department reported jobless claims dropped by 43,000 to 265,000 last
week, fewer than forecast and the lowest number in nearly 15 years. However,
the week included the Martin Luther King holiday, increasing the volatility of
the numbers. Stocks offered muted reaction to another report that had
pending-home sales dropping 3.7 percent in December. The Dow Jones Industrial
Average rose 56.07 points, or 0.3%, to 17,247.44. The S&P 500 declined 4.25
points, or 0.3%, to 2,006.41, with consumer discretionary the strongest
performer and energy the worst of its 10 major sectors. The Nasdaq dropped 6.82
points, or 0.2%, to 4,631.17. Gold is currently trading about 1.8% lower, crude
oil is seen trading about 1.2% lower, and the U.S. dollar is currently
trading marginally higher at 8:30am Chicago time.
India Basmati Rice Prices May Decline Further as Traders
are Likely to Resort to Distress Sales
Jan 29, 2015
However,
basmati rice import ban by Iran, which is India's major basmati rice importer,
citing adequate stocks as reason, has severely impacted basmati export demand
and consecutively prices. Traders and Exporters are unable to sell their
inventories domestically also as buyers are waiting for prices to still come
down.
A delegation
from Indian Commerce Ministry may reportedly visit Iran to convince the Iranian
authorities over reviving rice imports.Analysts are expecting prices to go down
further as traders and exporters may resort to distress selling to reduce their
stocks. They are also expecting basmati rice acreage to decline in the 2015
kharif season significantly.
India
exported around 2.19 tons of basmati in the first eight months of FY 2014-15
(April - November), according to data from the Agricultural and Processed Food
Products Export Development Authority (APEDA), while the sub-continent exported
3.76 million tons of basmati rice in FY 2013-14 (April - March). At the current
pace, basmati rice exports in FY 2014-15 are expected to decline by about 10%
to around 3.4 million tons.
India
basmati prices, which already declined by about 40% to below $900 per ton from
around $1,400 per ton last year, are expected to decline further due to low
export demand and increasing inventories, according to local sources.Farmers
increased basmati rice acreage in the 2014 kharif rice season by about 40% to
around 3.5 million hectare from around 2.5 million hectares in anticipation of
higher prices similar to those last year. Now, the output has increased to
around 8.5 million tons from around 6.25 million tons last year.
However,
basmati rice import ban by Iran, which is India's major basmati rice importer,
citing adequate stocks as reason, has severely impacted basmati export demand
and consecutively prices. Traders and Exporters are unable to sell their
inventories domestically also as buyers are waiting for prices to still come
down.A delegation from Indian Commerce Ministry may reportedly visit Iran to
convince the Iranian authorities over reviving rice imports.
Analysts are
expecting prices to go down further as traders and exporters may resort to
distress selling to reduce their stocks. They are also expecting basmati rice
acreage to decline in the 2015 kharif season significantly.India exported
around 2.19 tons of basmati in the first eight months of FY 2014-15 (April -
November), according to data from the Agricultural and Processed Food Products
Export Development Authority (APEDA), while the sub-continent exported 3.76
million tons of basmati rice in FY 2013-14 (April - March). At the current
pace, basmati rice exports in FY 2014-15 are expected to decline by about 10%
to around 3.4 million tons.
Guinea 2015 Rice Imports Estimated at 320,000 Tons; Up 7%
from 2014
Jan 29, 2015
Oryza.com -
The UN's
Food and Agriculture Organization (FAO) has estimated Guinea's 2015 rice, basis
milled, imports at around 320,000 tons, up about 7% from around 300,000 tons in
2014. The probable increase in imports is attributed to shortfalls in 2014
production levels that occurred due to the Ebola Virus Disease (EVD) outbreak.The
FAO estimates the country's total cereal import needs at around 444,000,
slightly up from last year.
Harvesting
of rice crop is likely to complete soon. The FAO estimates Guinea's 2014 milled
rice production at around 1.31 million tons (around 1.971 million tons, basis
paddy), down about 4% from around 1.355 million tons (around 2.053 million
tons, basis paddy) last year. The EVD outbreak began at the planting stage and
continued till harvesting disrupting various farming activities and impacting
the overall rice production in the country. The government's measures to
control the outbreak of EVD led to shortfalls in labour and agricultural inputs
leading to a decline in production.In Guinea, rice is the most significant crop
and is grown in about 80% of agricultural land. Much of the decline in
production has occurred majorly due to border closures with neighboring
countries such as Senegal, Liberia, Sierra Leone and Guinea-Bissau;
restrictions/ban of people movement; people fleeing the country; and reluctance
of labor to work in groups.
According to
the FAO, prices of local rice declined in several market in recent months due
to increased supplies from ongoing harvests, but prices of imported rice
remained stable across the country.Guinea produces about 80% of the rice needed
for its annual domestic consumption and imports the rest. USDA estimates Guinea
to produce about 1.45 million tons of rice and import about 340,000 tons to
meet a demand of about 1.65 million tons in MY 2014-15 (October - September).
Bangladesh Promotes Zinc-Enriched Rice Variety
The new
zinc-enriched and high-yielding paddy rice variety BRRI-Dhan-64, developed by
the Bangladesh Rice Research Institute (BRRI) is being popularized among
farmers in the ongoing boro crop season (January - May), according to local
sources. The variety has been developed specifically for boro season.The new
variety, which was approved by the National Seed Board for commercial
cultivation in 2014, is being tried in about 75 acres (30 hectares) in three
districts - Jhenidah, Magura and Jessore - according to the Additional Director
of the Department of Agricultural Extension in Jessore region.
BRRI
scientists claim that BRRI-Dhan 64, which is developed through cross
pollination with a local variety, can be harvested within 100 days of planting
and can yield up to 31 maunds per bigha (around 7.2 tons per hectare) if
nurtured properly.They say, the new variety contains about 24 milligrams of
zinc per kilogram, while other local varieties contain only 9-12 milligrams. It
is said to effectively fight zinc and protein deficiency in human body,
especially among women and children. It is also capable of fighting stunted
growth as well as diarrhoea and pneumonia-induced childhood deaths in children.
The
government distributed another zinc-enriched variety BRRI Dhan-62 to about
10,000 farmers during the 2014 Aman (May - December) season. Bangladesh
produced around 34.449 million tons of rice, basis milled (around 51.42 million
tons, basis paddy), in FY 2013-14 (July - June), up about 2.7% from around
33.833 million tons (around 50.5 million tons, basis paddy) produced in FY
2012-13, according to Department of Agriculture Extension (DAE) data.USDA
estimates Bangladesh to produce around 34.6 million tons of milled rice (around
51.91 million tons, basis paddy) in MY 2014-15 (May - April), up about 1% from
an estimated 34.39 million tons (around 51.59 million tons, basis paddy) in MY
2013-14. It estimates Bangladesh to import around 500,000 tons of rice in 2015,
down about 26% from an estimated 678,000 tons in 2014.
Thai Rice Auction Receives Overwhelming Response with 100
Bidders
Jan 29, 2015
The huge response is attributed to some
changes made to the bidding rules. Last week, the government fixed floor prices
for both white rice and jasmine rice below the market prices. The government
reportedly fixed floor price for white rice at around 8-10 baht per kilogram
(around $245-$307 per ton), while the market price is quoted at around 13 baht
per kilogram (around $399 per ton). On the other hand, the government has fixed
the floor price for Hom Mali rice at around 20-21 baht per kilogram (around
$613-$644 per ton) compared to market price of around 31-33 baht per kilogram
(around $950-$1,012 per ton).Many traders told local sources that low floor
prices encouraged even small traders to participate in the bidding. Also the
government allowed interested bidders to inspect the quality of rice in the
warehouses before the bidding itself.
Results of the auction are yet to be known.
Bids equal to or above floor prices are expected to be accepted, according to
local sources. However, experts are expecting global rice prices to decline
following this tender due to increased supplies.The Thai Commerce Ministry is
keen on selling around 10 million tons of stockpiled rice in 2015 and around 7
million tons in 2016 through tenders. Thailand's military government sold
around 681,740 tons of rice in last four auctions raising around 6.36 billion
baht (around $195 million) after it took charge on May 22, 2014. The Thai
government currently holds around 17.8 million tons of rice in its stockpiles.Thailand
exported around 10.8 million tons of rice in 2014, up about 64% from around 6.6
million tons in 2013.
Philippines NFA Considers More Incentives for Farmers
Instead of Raising Paddy Procurement Price
Jan 29, 2015
The National Food Authority (NFA) of the
Philippines has decided to retain the paddy procurement price at about P17 per
kilogram (around $390 per ton) but provide more incentives to encourage farmers
to sell their paddy to the agency, according to local sources.Since the average
farm gate prices by private traders are currently ruling at around P18.9 per
kilogram (around $429 per ton), most of the farmers are reportedly preferring
to sell their output to them.However, the NFA Administrator told local sources
that the NFA cannot increase the price at which it will procure paddy from
farmers, but will provide additional incentives such as graduated delivery fee
of about P0.50 per kilogram (around $11.34 per ton), drying incentive of about
P0.20 per kilogram (around $4.54 per ton) and Cooperative Development Incentive
Fund assistance of about P0.30 per kilogram (around $6.81 per ton). He also
noted that the agency is also considering other benefits like health insurance
to farmers.
The NFA usually procures about 7-8% of
total paddy output to maintain buffer stocks and ensure price stability.
Philippines paddy production reached about 18.97 million tons in 2014. The NFA
imports rice as and when the rice stocks fall below the buffer norms.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 government is planning to
import 500,000 tons of rice to maintain buffer stocks this 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.
Pakistan Urged to Increase Rice Exports to China
Jan 29, 2015
Oryza.com -
On the other
hand, Pakistan exported around 3.16 million tons of rice FY 2013-14, down about
7% from around 3.4 million tons exported in 2012-13. The South Asian country
exported around 1.84 million tons of rice (around 278,973 tons of basmati and
around 1.56 million tons of non-basmati) in the first six months of FY 2014-15.
Thailand Offers Lowest Bid in Iraq Rice Tender
Jan 29, 2015
In response
to an international tender by Iraq’s Grain Board to buy at least 30,000 tons of
rice, Thailand offered a bid of $443.9 per ton (c&f basis), Vietnam offered
$446.5 (c&f), U.S. offered $617 per ton (c&f), and Brazil and U.S.
jointly offered $662 per ton (c&f), Reuters quoted European traders as
saying.Iraq sought tenders from the U.S., Uruguay, Argentina, Brazil, Vietnam
and Thailand. The tenders closed on January 25, 2015, but are valid until
January 29, 2015.
Asia Rice Quotes Unchanged Today
Jan 29, 2015
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 $40 per ton premium on Pakistan 5% rice
quoted at around $355 - $365 per ton.
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. 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.
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.
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