UK Seeks New GM Crop Regulations from EU
Feb
26, 2015
The report indentifies three major
flaws in the EU regulatory system for GM crops. First, the current regulations
are based on assumption that GM crops inherently pose greater risk that
traditional crops and fail to recognize the characteristics displayed by the GM
crops in the field. Second, they fail to assess the risks posed by the GM crops
in relations with the benefits to the producer, consumer and the environment
leading to a one-sided judgement on their effects to the economy, society and
environment. Third, the current regulations prevent EU States from taking their
own decision on GM crops.
Due to this member states who
basically oppose GM crops have been trying to influence other members over the
adoption of GM crops.The report concluded that the "Precautionary
Principle", which controls the import and cultivation of GM crops, is no
longer valid as there has been no significant evidence that there are
potentially dangerous effects on the environment, human, animal and plant
health from GM crops. Continued application of this principle is acting as a
barrier to progress in this field, stated the report
Philippines to Conduct Auction
for 500,000 Tons of Rice on February 27, 2015
Feb
26, 2015
The Philippines imported around 1.8
million tons of rice (including around 1.5 million tons of 2014 imports and
around 300,000 tons of 2013 residual imports) in 2014 to replenish rice stocks
and control price hikes. USDA estimates the Philippines to produce around
12.2 million tons of rice, basis milled, in MY 2014-15 (July - June) and import
around 1.6 million tons of rice in 2015.
U.S. Rice Producers Make
Preparations to Send Rice Samples to Cuba
Feb
26, 2015
Myanmar Signs 100,000 Ton Rice
Export Contract with China
Feb
26, 2015
Oryza.com
-
The Myanmar Rice Federation (MRF)
has signed a contract with the China's state run China National Cereals, Oils
and Foodstuffs Corporation (COFCO) to export 100,000 tons of rice to China in
separate monthly shipments in accordance with market prices at the time of
shipment, local sources quoted an official from the (MRF) was quoted as
saying.According to the Joint Secretary of the MRF, it has been agreed to
export rice in separate monthly shipments at the prevailing prices at the time
of shipment to ensure a fair trade for both parties. He also noted that the
Myanmar rice exporters do not have enough capacity to export all 100,000 tons
of rice at once.
Officials from the MRF have been
working to sign this contract for last few months in order to legalize rice exports
to China.Initially nine companies were shortlisted to export rice to China but
the number is likely to go up as China seeks increase in the number of
exporters in which it will do business with.According to the agreement, rice
exporters should get their rice inspected and accredited with the China's
General Administration of Quality Supervision, Inspection and Quarantine
(AQSIQ) and then seek approval from the China Certification and Inspection
Group before exporting rice to China.The MRF Joint Secretary noted that they
would begin exporting rice to China from April. He noted that the MRF is taking
all measures to meet the quality and variety standards in accordance with
China's specifications.Currently export quotes for Myanmar 5% broken rice are at
around $415 per ton and 25% broken rice is quoted at around $325 per ton.
Around 1.1 million tons of rice have
been exported from Myanmar in the first nine months of 2014-15, including
800,000 tons to China through border trade. The Myanmar government is targeting
to export around 2.5 million tons of rice in FY 2015-16 (April - March), up
about 67% from an estimated 1.5 million tons in FY 2014-15.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 are Seen Lower Overnight ahead of Weekly Export Sales Report
and as Crude Turns Negative Once Again
Feb
26, 2015
Chicago rough rice futures for May
delivery are currently listed 12 cents per cwt (about $3 per ton) lower at
$10.650 per cwt (about $235 per ton) ahead of floor trading in Chicago. The
other grains are seen mixed this morning: soybeans are currently seen about
0.3% higher, wheat is listed about 0.4% lower and corn is currently noted about
0.6% higher.U.S. stock index futures signaled a softer open on Thursday as
investors digested mixed U.S. data that was mostly worse than expectations. The
core CPI, the key figure for the Fed that excludes more volatile food and
energy prices, gained 0.2%. However, CPI data for January was down more than
expected at 0.7%.
Expectations were for a further
sharp drop of 0.6 percent month on month, the biggest fall since 2008, driven
by energy prices to leave the year-on-year rate in negative territory. Durable
goods orders figures for January increased a more-than-expected 2.8%, after a
3.4% decline in the prior month. Initial claims for unemployment for the week
of Feb. 15, came in at 313,000. Analysts had expected the figure to increase
moderately to 285,000 from 283,000 the week prior. Earlier, futures pointed to
a higher open as investors welcomed comments from U.S. Federal Reserve Chair
Janet Yellen's speech to Congress, which hinted that the central bank was not
in a rush to hike interest rates.
U.S. stocks closed narrowly mixed on
Wednesday, after struggling for direction amid firming oil prices and some
debate over the tone of Yellen's congressional remarks. Gold is currently
trading about 1% higher, crude oil is seen trading about 2.6% lower, and
the U.S. dollar is currently trading about 0.7% higher at 8:00am Chicago time.
Oryza U.S. Rough Rice Recap -
Prices Slip Slightly as Long Export Sales Disappoint
Feb
26, 2015
The U.S. cash market was slightly
weaker again today as long grain export sales continue to disappoint and buyers
show little to no interest in this market despite it being the cheapest rice in
the western hemisphere.In the meantime, the USDA reported that cumulative net
export sales for the week ending on February 19 totaled 95,400 tons, which
was 3% lower than last week but 20% higher than the prior 4-week average.
Increases were reported for the
following destinations: 48,200 tons to Japan, 16,200 tons to Mexico, 8,100 tons
to Saudi Arabia, 7,400 tons to Haiti, and 5,200 tons to Jordan.U.S. rice
exporters shipped 93,700 tons, which was considerably higher than last week and
the prior 4-week average. The primary destinations included 38,200 tons to
Mexico, 27,500 tons to Colombia, 20,900 tons to Haiti, 2,200 tons to Jordan,
and 1,500 tons to Canada.
Oryza Afternoon Recap - Chicago
Rough Rice Futures Fall Despite Strong Export Sales and Rallying Grains
Feb
26, 2015
Chicago rough rice futures for May
delivery settled 11.5 cents per cwt (about $3 per ton) lower at $10.655 per cwt
(about $235 per ton). The other grains closed higher as corn and wheat were
both lifted out of negative territory by surging beans; Soybeans closed about
1.6% higher at $10.2650 per bushel; wheat finished about 0.7% higher at $5.0050
per bushel, and corn finished the day about 1.2% higher at $3.8850 per bushel.
U.S. stocks traded in a narrow range
on Thursday, with only the Nasdaq holding higher, as investors digested mixed
economic data and declines in oil. Crude oil traded below $50 a barrel and
Brent held near $61 a barrel on Thursday. he core Consumer Price Index, the key
figure for the Fed that excludes more volatile food and energy prices, gained
0.2% in January. However, the broader index was down more than expected at
0.7%. Expectations were for a further sharp drop of 0.6% month on month, the
biggest fall since 2008, driven by energy prices to leave the year-on-year rate
in negative territory.
Durable goods orders figures for
January increased a more-than-expected 2.8%, after a 3.4% decline in the prior
month. Initial claims for unemployment for the week of Feb. 15, came in at
313,000. Analysts had expected the figure to increase moderately to 285,000
from 283,000 the week prior. The Dow Jones Industrial Average traded down 7
points, or 0.04%, to 18,217. The S&P 500 traded down 3 points, or 0.15%, to
2,110, with energy the greatest decliner and information technology leading
four sectors higher. The S&P 500 traded down 3 points, or 0.15%, to 2,110.
Gold is trading about 0.7% higher, crude oil is seen trading about 4.6% lower,
and the U.S. dollar is seen trading about 1.1% higher at about 1:00pm
Chicago time.
Wednesday, there were 2,098
contracts traded, up from 1,505 contracts traded on Tuesday. Open interest –
the number of contracts outstanding – on Wednesday decreased by 59 contracts to
9,121.
Oryza Global Weather Outlook
Feb
26, 2015
Rain is expected across the Yangtze Valley and eastern South China this week.
Light rain showers are expected across India and Pakistan this week.
Weather is expected to remain dry in Bangladesh.
In Indonesia, rain is expected western
and southern Sumatra, Kalimantan, south western East Malaysia, Sulawesi, and
Java this week.
Rain showers are expected in central and northern Vietnam, and south eastern Thailand this week.
A few showers are expected in south eastern Philippines this week.
Rain is expected across the centre-south and north-east Brazil this week.
Rain showers are expected to increase across the Argentina and Uruguay rice areas this week.
Thailand to Auction One Million
Tons of Rice on March 6, 2015
Feb
26, 2015
The Thai government is planning to auction one million tons of rice on
March 6, 2015, according to Reuters.The government is expecting a good number
of bidders in the upcoming auction and it is planning to sell rice based on
whole-warehouse basis. It is inviting bids for the March 6 auction on March 5,
according to Bloomberg.Thailand sold about 500,000 tons of rice from the one
million tons of rice auctioned on January 29, 2015.
The government reiterated its plans to sell about 10 million tons of rice
this year and about 7 million tons next year.
Indonesia's Plan to Replace
Raskin Rice with E-Money Invites Criticism
Feb
26, 2015
India Average Wholesale Rice
Prices Decline Sharply in February 2015
India average wholesale rice prices,
which increased in January 2015 after declining for two consecutive months have
again declined in February 2015 due to increased supplies and declining export
demand, according to official sources.Average monthly wholesale rice prices in
India declined to around Rs.2,709.78 per quintal in February 2015, down about
4% from around Rs.2,836 per quintal in January 2015, and down about 2% from
their year-ago levels of around Rs.2,761.2 per quintal.
In terms of USD per ton, wholesale
rice prices in India stand at around $438 per ton (using current exchange
rates) in February 2015, down about 5% from around $461 per ton (using
historical exchange rates) in January 2015, and down about 1.5% from around
$445 per ton (using historical exchange rates) in February 2014.
The government of India, in its
second advance estimates for major crops, has estimated India's rice production for 2014-15 marketing year (October
2014 - September 2015) at around 103.04 million tons, down about 3% from an
estimated 106.65 million tons in 2013-14, according to a statement from the
agriculture Ministry this month. The government of India is estimating 2014-15
(April 2014 - March 2015) rice exports, including basmati and non-basmati, at around 10.1 million tons, down
about 7% from around 10.9 million tons exported in 2013-14
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 2015 from an estimated 10.3 million tons in 2014.
India Basmati Rice May Not Get
Legal Protection Soon
Feb
26, 2015
In 2009, the Agricultural and
Processed Food Products Export Development Authority (APEDA) applied to the GI
Registry in Chennai seeking GI protection for India's basmati rice. However,
based on complaints from the Madhya Pradesh department of farmer welfare and
agriculture development and some basmati exporters in the state, in December
2013, the GI Registry directed the APEDA to file an amended GI application to
include Madhya Pradesh as a basmati growing area.Not convinced by the GI
Registry's directive, the APEDA approached the Intellectual Property Appellate
Board (IPAB) in February 2014 to decide over the inclusion of Madhya Pradesh in
its Geographical Indications (GI) application. The APEDA has been very keen on
not including other basmati growing states, other than those recognized by
National Agricultural Research System under the agriculture and co-operative
department, in its application as it views the GI status is critical in
determining the genuine basmati rice cultivators.
However, the farmers' body in Madhya Pradesh and the BGA also appealed
against the APEDA with the IPAB.A GI label certifies the geographical origin of
a product and confirms adherence to some production standards. It also prevents
producers who aren't covered by the tag from using the same.
Government of India to End Levy
Rice Procurement from 2015-16 Marketing Season
Feb
26, 2015
Usually about 5 million tons of
milled rice are procured annually through levy system from millers. The rice
thus procured was directly handed over to public distribution system (PDS)
operators. The millers were also happy as they used their installed capacities
optimally.However, the government of India felt the need to abolish the levy
rice procurement as there was no proper supervision system and the millers were
often not paying MSP to the farmers and were selling the better-quality grain
in the open market. Therefore the Food Ministry opined that the actual purpose
of levy rice system to bridge the capacity gap with government procurement
agencies is not being fulfilled.
With the abolition of levy rice
system, the government mandates the Food Corporation of India (FCI) and state
procurement agencies to step up their procurement operations as well as
entirely adopt the custom milled rice (CMR) under which they would directly buy
paddy from farmers and get it milled from registered millers. This would ensure
payment of MSP to farmers and remove some irregularities in the levy rice
procurement.Major rice producing states such as Punjab and Haryana had
abolished the levy rice system two years back but it still exists in the states
of Uttar Pradesh, Uttarakhand, Andhra Pradesh, Telangana and West Bengal.
The decision is being hailed by some
rice market veterans. “It is a step in right direction, finally moving away
from controlled system to somewhat free markets. The rice millers will have
freedom to sell in the market, which should ultimately help farmers getting a
better price,” a former chairman, Commission for Agricultural Costs and Prices
(CACP) was quoted as saying.The Indian government targets to procure 30.05
million tons of rice during the 2014-15 Kharif Marketing Season (October 2014 -
September 2015), down about 12% from last year's target of around 34.3 million
tons.Asia rice sellers kept their 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 $390 - $400 per ton, about $55 per ton premium on
Pakistan 5% rice quoted at around $335 - $345 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 $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 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.
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