Oryza
Overnight Recap – Chicago Rough Rice Futures Seen Slightly Lower as a
Retracement in Other Grains Weighs on Prices
Feb
20, 2015
Chicago rough rice futures for
Mar delivery are currently listed 2.5 cents per cwt (about $1 per ton) lower at
$10.775 per cwt (about $238 per ton) during early floor trading in Chicago. The
other grains are seen trading lower this morning: soybeans are currently seen
about 0.6% lower, wheat is listed about 1.3% lower and corn is currently noted
about 1.2% lower.U.S. stocks traded lower on Friday ahead of an expected
announcement on Greece debt talks with the euro zone. The Eurogroup of regional
finance ministers met on Friday to discuss Greece's loan extension proposal.
Germany rejected the plan on
Thursday and called it a "Trojan horse." A decision is expected late
Friday morning, Eastern Time. Greece faces the risk of default and exit from
the euro zone if the country does not obtain enough funding or an extension
beyond the Feb 28 deadline. The Dow Jones Industrial Average fell more than 100
points in the open before recovering to trade about 64 points lower, or 0.38%,
to 17,918. The S&P 500 traded down 8 points, or 0.38%, to 2,089, with
energy leading declines across all sectors. The Nasdaq reversed to trade lower,
down 9 points, or 0.17%, to 4,916. Gold is currently trading marginally lower,
crude oil is seen trading about 1% lower, and the U.S. dollar is
currently trading about 0.3% higher at 8:30am Chicago time.
Asia
Rice Quotes Unchanged Today
Feb
20, 2015
Vietnam rice sellers are out
today due to national holiday. Other Asia rice sellers kept their quotes
unchanged today.
5% Broken Rice
Thailand 5% rice is quoted at
around $405 - $415 per ton, about $50 per ton premium on Vietnam 5% rice last
shown at around $355 - $365 per ton. India 5% rice is quoted at around $390 -
$400 per ton, about $45 per ton premium on Pakistan 5% rice quoted at around $345
- $355 per ton.
25% Broken Rice
Thailand 25% rice is quoted at
around $365 - $375 per ton, about $40 per ton premium on Vietnam 25% rice last
shown at around $325- $335 per ton. India 25% rice is quoted at around $355 -
$365, about $50 per ton premium on Pakistan 25% rice quoted at around $305 -
$315 per ton.
Parboiled Rice
Thailand parboiled rice is quoted
at around $405 - $415 per ton. India parboiled rice is quoted at around $385 -
$395 per ton, on par with Pakistan parboiled rice quoted at around $385 - $395
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 last
shown at around $305 - $315 per ton. India's 100% broken rice is shown at
around $280 - $290 per ton, about $5 per ton premium on Pakistan broken
sortexed rice quoted at around $275 - $285 per ton.
Global Rice
Quotes
February
20th, 2015
Long
grain white rice - high quality
Thailand
100% B grade 415-425 ↔
Vietnam
5% broken 355-365 ↔
India
5% broken 390-400 ↔
Pakistan
5% broken 345-355 ↔
Myanmar
5% broken 410-420 ↔
Cambodia
5% broken 430-440 ↔
U.S.
4% broken 480-490 ↔
Uruguay
5% broken NQ ↔
Argentina
5% broken NQ ↔
grain
white rice - low quality
Thailand
25% broken 365-375 ↔
Vietnam
25% broken 325-335 ↔
Pakistan
25% broken 305-315 ↔
Cambodia
25% broken 410-420 ↔
India
25% broken 355-365 ↔
U.S.
15% broken 470-480 ↔
Long
grain parboiled rice
Thailand
parboiled 100% stxd 405-415 ↔
Pakistan
parboiled 5% broken stxd 385-395 ↔
India
parboiled 5% broken stxd 385-395
↔
U.S.
parboiled 4% broken 555-565 ↔
Brazil
parboiled 5% broken 570-580 ↔
Uruguay
parboiled 5% broken NQ ↔
Long
grain fragrant rice
Thailand
Hommali 92% 920-930 ↔
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 275-285 ↔
Cambodia
A1 Super 365-375 ↔
India
100% broken stxd 280-290 ↔
Egypt
medium grain brokens NQ ↔
U.S.
pet food 380-390 ↔
Brazil
half grain NQ ↔
All
prices USD per ton, FOB vessel, oryza.com
India
2014-15 Basmati Rice Exports May Decline by 10% Due to Iran Import Ban, Says
AIREA Official
Feb
20, 2015
India's basmati rice exports in
the fiscal year 2014-15 (April - March) are likely to decline by about 10% to
around 3.2 million tons from around 3.57 million tons exported in FY 2013-14,
local sources quoted the Executive Director (ED) of the All India Rice
Exporters Association (AIREA).The expected decline is mainly due to the
temporary ban imposed by Iran on rice imports citing presence of excess stocks
in the country.
Iran is an important destination for India's
basmati rice exports and accounts for nearly 30% of India's total basmati
exports.In 2013-14, India exported about 1.4 million tons of basmati rice to
Iran, about 39% of total basmati rice exports. The AIREA ED noted that so far in
this fiscal year, India's basmati rice exports are lagging by about 5-7% from
the same period last year.Iranian authorities have reportedly assured Indian
representatives, who visited Iran recently, to resume basmati rice imports from
March this year and that they would issue a notification in that direction on
March 21, 2015.
The AIREA ED noted that India's basmati rice
exports may not recover this year despite Iran's resumption of rice imports.
However, higher demand for basmati rice from European nations such as Denmark
and Czech Republic have offset Iran ban effect, according to local sources.In
the beginning of this month, India's Commerce Ministry officials told local
sources that they are expecting Iran to import around 800,000 to one million
tons of basmati rice in 2014-15. According to data from the Agricultural &
Processed Food Products Export Development Authority (APEDA), India exported
only 608,107 tons of basmati rice to Iran in the first eight months of FY
2014-15 (April-November 2014) and total India's basmati rice exports during the
period stand at around 2.19 million tons.
The impact of reduced shipments
to Iran has also hit basmati rice prices severely. India's basmati export
prices declined by about 40% to below $900 per ton from around $1,400 per ton
last year, and are expected to decline further due to low export demand and
increasing inventories.
Indonesian
Trade Minister Rules Out Immediate Rice Imports Despite Rising Prices
Feb
20, 2015
Indonesia may not import rice
immediately despite rising domestic prices, as the existing stocks and the
output from upcoming harvest in March and April would be sufficient to control
price hikes, local sources quoted the country's Trade Minister as saying.The
Minister told local sources that the government is against rice imports ahead
of the harvest time as it would make local rice uncompetitive and affect the
farmers' incomes.
According to the Director General
of the Agriculture Ministry is expecting the harvest from the ongoing
crop season at around 13.2 million tons, basis paddy. Indonesia's 2015 paddy
rice production is expected to reach about 71.28 million tons, up about 0.95%
from around 70.6 million tons produced in 2014.Domestic rice prices have been
surging since September 2014. Currently local rice prices stand at around 9.78
million Rupiah (around $761) per ton, up about 10% from around 8.93 million
Rupiah (around $750) per ton in September 2014, and up about 9% from their year
ago levels.Indonesia imported around 425,000 tons of rice from Vietnam and
Thailand in 2014.USDA estimates Indonesia to produce around 36.5 million tons
of rice, basis milled (around 57.4 million tons, basis paddy), and import
around 1.3 million tons of rice in MY 2014-15 (October - September).
Indonesia
Signs New Agreement with IRRI to Boost Rice Production
Feb
20, 2015
The Indonesian Agency for
Agricultural Research and Development (IAARD) has collaborated with the
Philippines-based International Rice Research Institute (IRRI) as part of its
efforts to boost rice production and achieve self-sufficiency over the next four
years, according to local sources.The IAARD and the IRRI have formally signed a
new working plan for the next four years (2015 - 2019) in line with the
government's targets to achieve self-sufficiency in rice production, maintain
adequate rice stocks to secure food supply as well as end rice imports. The
working plan was signed between February 16-18, 2015 in Jakarta. It is expected
to encourage collaborative research between the IRRI and Indonesia's rice
research programs as well as enhance the country's national rice research
capacity.
The IAARD Director General told
local sources that the institute is stepping up efforts to develop more climate
resilient and higher yielding rice varieties. The new plan with the IRRI will
help Indonesia to receive the best of rice science to further improve rice
yields, while withstanding harsher climates as well as constantly-evolving
diseases and pests. production, he said.The IRRI launched an ICT-based
application called Layanan Konsultasi Padi (LKP), which provides location-specific
fertilizer advice to farmers, following the work plan signing formalities.
According to an independent
assessment published in 2011, the IRRI released about 230 rice varieties
between 1985 to 2009 that are high-yielding, pest, drought, flood and salinity
resistant. The IRRI also disseminated requisite crop management practices to
farmers through management technologies. Indonesia produced around 70.61
million tons of paddy in 2014, and the government is estimating 2015 paddy
production at around 71.28 million tons in 2015.USDA estimates Indonesia to
produce around 36.5 million tons of rice, basis milled (around 57.4 million
tons, basis paddy), and import around 1.3 million tons of rice in MY 2014-15
(October - September). Consumption during the year is estimated at around 39.2
million tons.
Oryza
Afternoon Recap - Chicago Rough Rice Futures Finish Little Changed Following
Late Session Recovery; Grains Retrace Yesterday's Gains
Feb
20, 2015
rice futures for Mar delivery
settled 1 cent per cwt (about $0.22 per ton) lower at $10.790 per cwt (about
$238 per ton). After spending the majority of the trading session in
negative territory the market managed to mount an afternoon recovery to close
nearly unchanged. Price action took on a negative tilt despite a strong export
sales report as outside markets turned bearish and the sentiment in neighboring
grain pits weighed on the trade. Today’s session marks the expiration for
options on March futures contracts and traders will keep a keen eye on today’s
CFTC report as well as open interest as the majority of trade action has now
moved into the May contract.
May futures finished with a
slight gain which is seen as positive given the negative backdrop. The other
grains finished lower as traders likely took profits following yesterday’s
rally; Soybeans closed about 0.8% lower at $9.9925 per bushel; wheat finished
about 3.3% lower at $5.1025 per bushel, and corn finished the day about 1.2%
lower at $3.8525 per bushel.U.S. stocks turned positive on Friday to trade near
highs after reports that indicated progress towards a Greece deal. The S&P
500 traded above its closing record of 2,100.34 to touch a new intraday record
of 2,103. The Dow traded above its record close of 18,053.71.
The Nasdaq continued to advance
towards the key 5,000 level. Euro zone ministers and Greece agreed on a draft
accord that could form the basis for an agreement to extend the Greek bailout,
a Greek government official told Reuters. The Eurogroup foresees 4-month
extension to Greek bailout, Dow Jones reported, citing officials. A press
conference will be held at 2:00 p.m. ET, according to the Eurogroup website.
The Eurogroup of regional finance ministers is expected to make an announcement
on Greece's loan extension proposal. Germany rejected the plan on Thursday and
called it a "Trojan horse" with "immense room for
interpretation." The Dow Jones Industrial Average traded up 41 points, or
0.23%, to 18,026.
The S&P 500 traded up 1
point, or 0.07%, to 2,099, with energy the greatest laggard and health care
leading five advancers. The Nasdaq traded up 8 points, or 0.18%, to 4,933. Gold
is trading nearly unchanged, crude oil is seen trading about 0.7% lower, and
the U.S. dollar is seen trading a touch lower at about 1:45pm Chicago
time.Thursday, there were 2,197 contracts traded, down from 2,771 contracts
traded on Wednesday. Open interest – the number of contracts outstanding – on
Thursday decreased by 142 contracts to 9,398.
Pakistan
Rice Exports Decline Sharply in January 2015
Feb
20, 2015
Pakistan exported around 419,153
tons of rice (including basmati and non-basmati) in January 2015, down about
14.5% from around 490,371 tons exported in December 2014, according to
provisional data from the Pakistan Bureau of Statistics (PBS). In terms of
value, Pakistan's rice export earnings declined about 14% to around $204.7
million in January 2015 from around $238.2 million earned in December
2014.Year-on-year, Pakistan’s exports declined about 18% from around 511,019
tons exported in January 2014.
In terms of value, they declined
about 24% from around $267.8 million in January 2014.Pakistan exported around
34,567 tons of basmati rice in January 2015, down about 12% from around 39,200
tons exported in December 2014 and nearly half of around 67,018 tons exported
in January 2014. In terms of value, Pakistan's basmati rice exports earned
$39.7 million in January 2015, down about 11% from around $44.7 million earned
in December 2014, and down about 46% from around $73.97 million earned in
January 2014.Pakistan exported around 384,586 tons of non-basmati rice in
January 2015, down about 9% from around 451,171 tons exported in December 2014
and down about 13% from around 444,001 tons in January 2014.
In terms of value, Pakistan's
non-basmati rice exports earned $164.99 million in January 2015, down about 15%
from around $193.5 million earned in December 2014, and down about 15% from
around $193.85 million earned in January 2014.Pakistan has exported around 2.26
million tons of rice (around 313,540 tons of basmati and around 1.95 million
tons of non-basmati) in the first seven months of FY 2014-15 (July 2014 - June
2015), up about 2% from around 2.22 million tons (around 336,290 tons of
basmati and around 1.88 million tons of non-basmati) exported during the same
period in FY 2013-14.
In terms of value, Pakistan's
exports earned around $1,181 million (around $315.7 million from basmati and
around $865.85 million from non-basmati) in July 2014 - January 2015, down
about 2.5% from around $1,212 million (around $368.5 million from basmati and
around $843.4 million from non-basmati) earned during the same period in
2013-14.
Italian
Paddy Rice Quotes Mostly Firm
Feb
20, 2015
Italian rice paddy quotes remain
firm. Farm gate quotations supplied by the Milan Grain Exchange as of
February 17 are as follows:
Arborio-Volano rice was shown at
725-755 euros (about $ 825-860) per ton, unchanged from the prior week.Balilla
paddy prices are firm at 315-330 euros (about $ 358-375) per ton, unchanged
from the prior week.Lido and similar paddy varieties are unchanged at 360-375
euros (about $ 410-427) per ton.Padano-Argo is shown at 570-670 euros (about $
649-763) per ton, unchanged from the prior week.Vialone Nano softened to
810-860 euros (about $ 922-979) from 820-870 euros (about $ 934-991) per ton of
February 10, due to increased acreage in 2014.
Thaibonnet and similar Indica
varieties are are slowly increasing: up to 298-308 euros (about $ 339-350) per
ton on February 17, up from 278-288 euros (about $ 316-328) per ton a week
prior.Sant'Andrea was quoted 530-580 euros (about $ 603-660) per ton on
February 10, advancing to 560-610 euros (about $ 637-694) per ton on February
17; Ariete and similar varieties received no quotations on both weeks.Carnaroli
was fixed at 725-755 euros (about $ 825-860) per ton, unchanged from prior
week.Baldo paddy prices were firm at 575-625 euros (about $ 654-711) per ton,
unchanged from the prior week. Roma is firm at 590- 620 euros (about $
672-711) per ton, unchanged from the prior week. Selenio was shown
at 345-370 euros (about $ 392-421) per ton on February 17, up from 340-365
euros (about $ 387-415) per ton on February 10.
Weekly
Recap: Global Rice Quotes Remain Soft Amid Continued Thailand Political Drama
Feb
20, 2015
The Oryza White Rice Index (WRI),
a weighted average of global white rice export quotes, ended the week at about
$420 per ton, down about $1 per ton from a week ago, down about $9 per ton from
a month ago and down about $41 per ton from a year ago.
Thailand
Thailand 5% broken rice is today
shown at about $405 per ton, unchanged from a week and a month ago and down
about $25 per ton from a year ago.
The Thai Attorney General has
filed criminal charges against Thailand’s former Prime Minister Yingluck
Shinawatra. She is facing criminal and civil suits in the controversial
rice pledging scheme introduced by her government in October 2011.
The government plans to auction
another one million tons of rice from its stockpiles in February 2015.
The UN’s FAO has forecasted
Thailand’s 2015 rice exports at around 11 million tons, up about 7% from
2014. The increase is expected despite the anticipated slight decline in
production due to high levels of public stocks and the government’s attempts to
clear more of existing rice stockpiles.
India
India 5% broken rice is today
shown at about $395 per ton, down about $5 per ton from a week and a month ago
and down about $25 per ton from a year ago.
The Food Corporation of India has
procured around 20.744 million tons of rice in KMS 2014-15 (October-September),
according to data by the Ministry of Consumer Affairs, Food & Public
Distribution.
In its second advance estimates
for major crops, the government of India has estimated India’s rice production
for 2014-15 marketing year (October-September) at 103.04 million tons, down
about 3% from 2013-14.
Basmati rice exports in fiscal
year 2014-15 (April-March) will likely decline by about 10% from last year, to
about 3.2 million tons, according to the Executive Director of the All India
Rice Exporters Association (AIREA).
Vietnam
Vietnam 5% broken rice is today
shown at about $360 per ton, unchanged from a week ago, down about $20 per ton
from a month ago and down about $40 per ton from a year ago.
Vietnam exported about 271,995
tons of rice from January 1 to February 12, a decrease of about 57% from the
first two months of 2014. Average rice export prices so far this year are
around $450 per ton (FOB), up about 5% per ton from the same time last year.
Vietnam is planning to stockpile
one million tons of rice starting March 1-April 15.
Pakistan
Pakistan 5% broken rice is today
shown at about $350 per ton, unchanged from a week ago, down about $15 per ton
from a month ago and down about $50 per ton from a year ago.
Pakistan exported about 419,153
tons of rice (basmati and non-basmati) in January 2015, down about 14.5% from
December, according to the Pakistan Bureau of Statistics.
Central & South America
Brazil 5% broken rice is today
shown at about $550 per ton, up about $10 per ton from a week and a month ago
and down about $115 per ton from a year ago.
U.S.
U.S. 4% broken rice is today
shown at about $500 per ton, unchanged from a week ago, down about $15 per ton
from a month ago and down about $80 per ton from a year ago.
U.S. farmers are likely to cut
down acreage on rice (in addition to wheat, corn, soybeans, and cotton) in
2015-16 (August-July), due to declining crop prices and profit margins.
The U.S. cash market was firmer
this week, continuing last week’s rally amid welcomed demand from
Colombia. Prices reached at least $0.50 per cwt (about $11 per ton)
higher than the levels seen trading last week.
Chicago rough rice futures for
March delivery recovered some this week after the Monday holiday, reaching a
high of $10.925 per cwt (about $241 per ton) on Wednesday. Later in the
week there was a slight reversal, but futures still closed up from last week at
$10.740 per cwt (about $237 per ton).
Other Markets
Cambodia 5% broken rice is today shown at
about $435 per ton, unchanged from a week ago, down about $5 per ton from a
month ago and down about $20 per ton from a year ago.
The National Food Authority in
the Philippines has decided to import 500,000 tons of well-milled long grain
white rice through G2G deals in efforts to boost buffer stocks ahead of the
lean season (June-August).
Average domestic rice prices in
the Philippines increased sharply in 2014
Japan is looking to purchase about
50,856 tons of rice in an ordinary tender. Japan has bought and sold a
total of around 412 tons of whole grain/brown rice of U.S. Australia, and
Thailand origins, and about 640 tons of broken rice of U.S. and Thailand
origins in the seventh SBS tender of FY 2014 (April-March).
The government of Sri
Lanka has fixed paddy procurement
prices for Nadu and Keeri Samba varieties harvested during the 2014-15 Maha
season (September-March).
The UN’s FAO estimates Nigeria’s total cereal imports, including rice and wheat, will increase
in 2015 to about 7.72 million tons, up about 1% from last year.
The UN’s FAO estimates North
Korea’s 2015 paddy production will
decline about 9% to 2.62 million tons from about 2.9 million tons in
2014. The decline is expected due to a 4% decline in plantings and
expected lower yields.
The European Commission received
about 37 notifications in 2014 from the EU member countries over rice and
rice-based products coming from various countries. Notifications in 2014
were about 15% higher than in 2013.
The UN’s FAO has estimated Sri
Lanka’s domestic rice prices will
decline in February, following the government’s decision to release about
100,000 tons of imported rice stocks into the market during the ongoing 2015
“Maha” season harvest. Prices were relatively high but stable in 2014.
The USDA Post estimates Malaysia’s milled rice imports will increase to about 1 million tons in
MY 2015-16 (January-December), which is about 1% more than last year, due to
expected slow demand growth.
Indonesia
may not import rice immediately despite rising domestic prices, as the Trade
Minister says existing stocks and output from upcoming harvest in March and
April will be sufficient to control price hikes
Philippines
Uses Multi-Environment Trials to Test Elite Rice Varieties
Feb
20, 2015
The Philippines Department of
Agriculture (DA) is encouraging farmers to test elite rice varieties through
multi-environment trials (MET) to evaluate their performance in various
cropping conditions, according to local sources.It is understood that the
so-called elite rice varieties or next-gen (next generation) varieties have
been developed with desirable traits, such as high yielding ability, disease
resistance, flood, drought, heat, or salinity tolerance but their adoption rate
is very low. The DA is keen on increasing the adoption of these varieties in
order to boost production.
According to a Senior Associate
Scientist at the International Rice Research Institute (IRRI), to know the
actual performance of these varieties, they have to tested in different
locations rather than testing in only one location. This is because different
varieties are suitable to specific locations.The MET addresses this issue and
allows farmers to observe varietal traits that are suitable to their location
and choose those varieties under a process called Participatory Varietal
Selection (PVS). The IRRI rice breeders will guide farmers in choosing
varieties appropriate for their locations. The process also helps farmers to
evaluate rice varieties from vegetative to ripening stage under conditions
specific to their locations. They can test varieties for their tolerance to
pests, texture, aroma, grain length as well as yield.
The Philippines produced around
18.97 million tons (around 11.95 million tons, basis milled) of rice in 2014,
up about 2.87% from around 18.44 million tons (around 11.62 million tons, basis
milled) in 2013. The Philippines Statistics Authority (PSA) is estimating the
country's paddy rice output in the first six months (January - July) of 2015 at
around 8.55 million tons, up about 2.02% from around 8.38 million tons produced
during the same period in 2014. USDA estimates the Philippines to produce
around 19.3 million tons of paddy (around 12.2 million tons, basis milled) and
import around 1.6 million tons of rice in MY 2014-15 (July - June).
Contents are published with
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