Thailand Rice Exports Decline Sharply in January 2015
Mar 09, 2015
Thailand
has exported around 610,504 tons of rice in January 2015, down about 59% from
around 1.47 million tons exported in December 2014, and down about 12% from
around 696,558 tons exported in January 2014, according to data from Thai Rice
Exporters Association (TREA). In value terms, Thailand’s rice exports
earned about $336.75 million from total rice exports in January 2015, down
about 51% from around $693.75 million earned in December 2014, and down about
11% from around $376.51 million earned in January 2014.
In
January 2015, white rice exports accounted for around 311,161 tons (about 51%
of total January 2015 exports), Hom Mali rice accounted for about 122,892 tons
(about 20% of total January exports), brokens accounted for 34,942 tons (about
6% of total January exports), glutinous variety accounted for 12,011 tons
(about 2% of total January exports), parboiled rice accounted for about 124,050
tons (about 20% of total January exports) and husked/brown rice accounted for
about 5,448 tons (about 0.1% of total January exports).
Average
export prices of white, Hom Mali, and brokens varieties increased m/m in
January 2015 , while prices of parboiled, glutinous and husked rice varieties
remained at December 2014 levels. Average export prices of glutinous rice
witnessed the highest increase of about 6% month-on-month in January 2015.
Philippines Chief Economist Urges Government to End Rice Import
Restrictions to Stabilize Prices
Mar 09, 2015
The
Philippines Chief Economist has urged the government to remove quantitative
restrictions (QRs) on rice imports to stabilize rice prices in the country,
according to local sources.The country's Economic Planning Secretary, who is
also the Director General of the National Economic and Development Authority
(Neda), was reacting to the inflation figures released by the Philippine
Statistics Authority (PSA). He noted that rising rice prices are partly
responsible for the high inflation and increased poverty incidence in the
country.He slammed the government's decision to seek extension of the QRs on
rice imports at the World Trade Organization (WTO) in order to protect the
local rice sector from foreign competition. QRs apparently allow the government
to import a stated amount of rice at lesser duty and imports over and above the
quota can attract higher duties. Last year, the WTO allowed the Philippines to
extend the QRs until 2017. Under the new QR policy, the Philippines can import
805,200 tons of rice under the minimum access volume (MAV) at 35% duty. Imports
above the MAV will attract 50% duty.
In
2013, the government's decision to curb imports coupled with its rice
self-sufficiency slogan had led to increase in rice prices as well as
unofficial rice imports. This experience had prompted the government to act
proactively last year and this year and import sufficient quantities of rice
before the lean season (July-September).The National Food Authority (NFA) has
decided to import 200,000 tons of rice from Thailand and 300,000 tons of rice
from Vietnam under government-to-government (G2G) deals to ensure adequate
stocks ahead of the lean season as well as to curb price hikes. The NFA
imported over 1.4 million tons of rice last year.
According
to a latest report released by the PSA, the domestic rice stocks were
sufficient for 69 days as of February 1, 2015. NFA stocks, which comprise of
about 96.7% imported rice, were sufficient for 15 days.USDA estimates
Philippines 2014-15 milled rice imports at around 1.6 million tons, up about
10% from last year. On the other hand, the FAO has forecasted the Philippines
2015 rice imports to remain at last year's level of around 1.8 million tons
reflecting the government's efforts to stabilize domestic rice prices and replenish
public stocks.
Philippines Rice Stocks Continue to Decline for Third Consecutive Month
Mar 09, 2015
The
Philippines rice stocks have continued to decline for the third consecutive
month in February 2015, according to the Bureau of Agricultural Statistics
(BAS).Total rice stocks in the Philippines as of February 1, 2015 reached
around 2.35 million tons, down about 12% from around 2.66 million tons recorded
in January 2015, and up about 17.5% from around 2 million tons recorded during
the same period last year.
According
to the BAS, household stocks (which account for about 44.5% of total rice
stocks in the country) have reached around 1.05 million tons as of February 1,
2015, down about 2% from year-ago levels of around 1.07 million tons.
Commercial warehouse rice stocks (which account for about 32.8% of total
stocks) have reached around 770,000 tons as of February 1, 2015, up about 64%
from their year-ago levels of around 470,000 tons. The rice stocks with the
National Food Authority (NFA) (which account for 22.5% of total stocks) stood
at around 530,000 tons, up about 15% from around 460,000 tons recorded in
February 2014.Month-on-month, household rice stocks are down about 21%,
commercial warehouse rice stocks are down about 5% and NFA rice stocks - in
which about 96.7% are imported rice - are up about 2%, according to the BAS.
The
BAS says that the Philippines' rice stocks as of February 1, 2015 are enough to
last for 69 days (household stocks are enough for 31 days, commercial
warehouses stocks are enough for 23 days and stocks with NFA are enough for 15
days).In its latest paddy production estimates, the PSA forecasts the
Philippines paddy production for the first quarter of 2015 (January - March) at
around 4.46 million tons, up about 3.6% from around 4.31 million tons, and down
about 2.8% from last month's forecast of around 4.59 million tons.
The PSA
estimates paddy acreage to decline to around 1.16 million hectares during the
three-month period from around 1.17 million hectares last year. Yield is also
expected to decline about 2% to around 3.84 tons per hectare from last year's
3.93 tons per hectare.The NFA has decided to import 500,000 tons of rice
(200,000 tons from Thailand and 300,000 tons from Vietnam) under
government-to-government deals in 2015 to ensure adequate stocks in the lean
season (June – September). It 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.USDA
estimates Philippines MY 2014-15 (July - June) paddy rice production at
around 19.365 million tons (around 12.2 million tons, basis milled), up about
3% from around 18.822 million tons (around 11.86 million tons, basis milled)
produced in the previous year.
Philippines
Approves G2G Rice Import Deals of Vietnam, Thailand
Mar 09, 2015
The
National Food Authority (NFA) Council of the Philippines has approved the
government-to-government (G2G) deals of Vietnam and Thailand, according to
Reuters. The two top exporting nations bid for the Philippines rice imports of
around 500,000 tons on February 27, 2015.While Vietnam will supply 300,000 tons
of rice, Thailand will supply 200,000 tons of rice before May 31, 2015. The
imports are to ensure adequate stocks ahead of the lean season (July -
September) as well as to curb price hikes.
Sources
at the NFA told reporters that further imports may not be ruled out but there
is no immediate clarity on the same. However, they noted that the government is
not under pressure to speed up imports as the total rice stocks are sufficient
for 69 days (household stocks are enough for 31 days, commercial warehouses
stocks are enough for 23 days and stocks with NFA are enough for 15 days),
according to the Bureau of Agricultural Statistics (BAS). The NFA imported over
1.7 million tons of rice last year.The government is also planning to procure
around 189,845 tons of paddy rice from farmers before June this year.
The
Philippines Statistics Authority (PSA) is estimating the Philippines to produce
around 8.55 million tons of paddy rice in the first half-part (January - June)
of 2015, up about 2.02% from around 8.38 million tons produced during the same
period in 2014.
Pakistan Rice Sellers Lower Some of Their Quotes; Other Asia Rice Quotes
Unchanged Today
Mar 09, 2015
Pakistan rice
sellers lowered their quotes for $5 broken rice by about $5 per ton to around
$340 - $350 per ton today. Other Asia rice sellers kept their quotes unchanged
today.
5% Broken Rice
Thailand 5% rice is
quoted at around $405 - $415 per ton, about $35 per ton premium on Vietnam 5%
rice shown at around $370 - $380 per ton. India 5% rice is quoted at
around $390 - $400 per ton, about $50 per ton premium on Pakistan 5% rice
quoted at around $340 - $350 per ton, down about $5 per ton from Friday.
25% Broken Rice
Thailand 25% rice is
quoted at around $365 - $375 per ton, about $20 per ton premium on Vietnam 25%
rice shown at around $345- $355 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 $400 - $410 per ton. India parboiled rice is quoted at
around $385 - $395 per ton, about $5 per ton discount to Pakistan parboiled
rice quoted at around $390 - $400 per ton.
100% Broken Rice
Thailand broken
rice, A1 Super, is quoted at around $320 - $330 per ton, about $5 per ton
premium on Vietnam 100% broken rice shown at around $315 - $325 per ton.
India's 100% broken rice is shown at around $280 - $290 per ton, about
$10 per ton discount to Pakistan broken sortexed rice quoted at around $290 -
$300 per ton.
Oryza U.S. Rough Rice Recap - Quiet Market Ahead of USDA WASDE Report
Mar 09, 2015
The U.S. cash market
was unchanged today ahead of the USDA’s World Agriculture Supply and Demand
Estimate report due out Tuesday morning.
Analysts note that
the market is extremely quiet with little buy or sell interest as sellers are
still hoping to get higher prices while buyers remain hand to mouth.
Pakistan Basmati Rice Export Prices Increase Sharply in February 2015
Mar 09, 2015
Pakistan
basmati rice prices, which have been declining since September 2014 have
reversed and increased sharply in February 2015, according to data from the
UN's Food and Agriculture Organization (FAO). The increase can be attributed to
concerns over a likely reduction in 2014-15 production.
In the January Crop
Monitoring System Bulletin, the National Space Agency of Pakistan (SUPARCO) and
UN’s Food and Agriculture Organization (FAO have estimated Pakistan FY 2014-15
(July - June) paddy rice production to decline about 19% to around 8.437
million tons (around 5.65 million tons, basis milled) from around 10.04 million
tons (around 6.72 million tons, basis milled) produced last year.
In February
2015, Pakistan's basmati rice export prices have increased about 12% to around
$978 per ton from around $876 per ton in January 2014, and down about 27% from
their year-ago levels of around $1,348 per ton.
In terms of local
currency, average Pakistan basmati rice prices in February 2015 increased to
around PKR 99,512 per ton (using historical exchange rates), up about 13% from
around PKR 88,305 per ton in January 2015, and down about 29% from around PKR
140,731 per ton in February 2014.
Average Pakistan
basmati rice prices stood at around $927 per ton in the first two months of
2015 (January - February), down about 32% from around $1,372 per ton recorded
during the same period last year.
Average basmati rice
prices increased between August and September 2014 and peaked to around $1,450
per ton in September 2014 due to fears of a fall in production as floods
affected large area of basmati rice acreage in Punjab. However, the
overall production of basmati rice has not been significantly affected by
floods. Pakistan basmati growers associations have been urging the government
to provide adequate support to increase competitiveness of Pakistan's basmati
rice in the global market.
Global
Rice Quotes
March 10th, 2015
Long grain white rice - high quality
Thailand 100% B grade 410-420
↓
Vietnam 5% broken 365-375 ↓
India 5% broken 390-400
↔
Pakistan 5% broken 345-355 ↑
Myanmar 5% broken 415-425 ↑
Cambodia 5% broken 425-435
↔
U.S. 4% broken 480-490
↔
Uruguay 5% broken NQ ↔
Argentina 5% broken NQ ↔
Long grain white rice - low quality
Thailand 25% broken 365-375 ↔
Vietnam 25% broken 345-355 ↔
Pakistan 25% broken 310-320 ↑
Cambodia 25% broken 410-420
↔
India 25% broken 355-365
↔
U.S. 15% broken 470-480
↔
Long grain parboiled rice
Thailand parboiled 100% stxd 400-410
↔
Pakistan parboiled 5% broken stxd 395-405
↑
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 465-475
↑
India basmati 2% broken NQ
↔
Pakistan basmati 2% broken NQ
↔
Cambodia Phka Mails 790-800
↔
Brokens
Thailand A1 Super 325-335
↑
Vietnam 100% broken 310-320
↓
Pakistan 100% broken stxd 280-290
↓
Cambodia A1 Super 345-355 ↔
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
Guyana Secures Venezuela Rice Export Deal, Says Agriculture Minister
Mar 09, 2015
The government
of Guyana has secured the deal to export around 200,000 tons of paddy and rice
in 2015, according to local sources.Guyana's Agriculture Minister told local
sources that the Venezuelan authorities have confirmed the continuation of the
Petro-Caribe deal that was signed between the two countries in 2009. Under the
deal, Guyana will export rice to Venezuela and import oil from the neighboring
country. The deal is valued at around $120 billion he said. The export prices
of rice and paddy are understood to be at 2014 levels.He also noted that the
first shipment to Venezuela would take place just before the harvesting of the
first crop of 2015 begins.
With
an expected increase in production, the government has been exploring new
markets for its rice. The Agriculture Minister noted that the government has
struck deals with new markets in Central America and Africa apart from the
existing markets.Guyana aims to produce about 618,000 tons of milled rice and
export around 521,000 tons in 2015. Guyana has exported around 501,208 tons of
rice in 2014, up about 27% from around 394,000 tons exported in 2013, according
to the Agriculture Minister.
FAO Estimates Indonesia to Import 1.2
Million Tons of Rice in 2014-15
Mar 09, 2015
The
UN's Food and Agriculture Organization (FAO) estimates Indonesia's rice imports
to return to more normal quantities and reach around 1.2 million tons in
2014-15 (April - March) due to a reduction in 2014 aggregate rice
production.The FAO estimates Indonesia's 2014 aggregate paddy rice production
at around 70.61 million tons (around 45 million tons of rice, basis milled),
slightly down from an estimated 71.28 million tons (around 45.3 million tons of
rice, basis milled) in 2013 due to a slight contraction in paddy acreage. A
reduction in paddy acreage is attributed to a shift from paddy to other crops
as well as occurrence of floods from mid-January to late-February disrupting
planting activities in major rice growing regions.Harvesting of the 2015 main wet
season paddy crop has started and will continue till mid-July.
The
rice producing regions Java and Sulawesi received above-average rains between
November and late February. But below-average rains between January and early
March over parts of Sumatera Island reduced soil moisture.
The
FAO estimates aggregate paddy rice production in 2015 at around 73.4 million
tons (around 46.6 million tons of rice, basis milled), up about 4% from an
estimated 70.6 million tons (around 45 million tons of rice, basis milled) in
2014. The government has been aiming to achieve self-sufficiency in rice
production this year and accordingly has been providing support to the
sector. Rehabilitation of irrigation channels as well as distribution of
subsidized seeds and fertilizers has been the government's core agenda in this
regard.Average rice prices have been increasing since September 2014.
Currently, average rice prices stand at around 9.94 million rupiah (Around $780
per ton).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).
Argentina Exports 510,707 Tons of Rice in 2014; Down 5% from Previous Year
Mar 09, 2015
Argentina
has exported around 510,707 tons of rice in 2014 (January – December), down
about 5% from around 535,722 tons exported during the same period in 2013,
according to data from the Ministry of Agriculture in Argentina.
Argentina exported around 11,700 tons of rice in December 2014, down
about 71% more from around 40,067 tons exported in November 2014; and down
about 73% from about 42,915 tons exported in December 2013.
In
the month of December, Argentina exported around 4,425 tons of rice to Chile
(about 38% of total December 2014 exports), around 2,799 tons of rice to
Bolivia (about 24% of December exports), around 22,76 tons of rice to Brazil
(about 19% of December exports), and around 1,400 tons of rice to Costa Rica
(about 12% of December exports). It exported the remaining 7% or around 766
tons of rice to Denmark (181 tons), the U.S. (329 tons), Israel (16 tons),
Italy (15 tons), Netherlands (50 tons), the U.K. (20 tons), Germany (108 tons)
and Canada (47 tons).
USDA estimates
Argentina's milled rice production at about 975,000 tons in MY 2014-15 (April –
March), against consumption of around 500,000 tons. It estimates Argentina to
export around 580,000 tons of rice in MY 2014-15.
Oryza Afternoon Recap - Chicago Rough Rice Futures Close Higher on Support
from Firmer Grain Prices
Mar 09, 2015
Chicago
rough rice futures for May delivery settled 6 cents per cwt (about $1 per ton)
lower at $10.535 per cwt (about $232 per ton). The other grains finished the
day higher; Soybeans closed about 0.8% higher at $9.9325 per bushel; wheat
finished about 1.6% higher at $4.9000 per bushel, and corn finished the day
about 0.7% higher at $3.8875 per bushel.U.S. stocks traded mostly higher on
Monday as investors reevaluated the impact of Friday's strong jobs report on
the timing of a Fed interest rate hike.
Monday
is the sixth anniversary of the bull market that began after the recession. The
Dow added more than 170 points and the S&P 500 rose 0.50%, while the Nasdaq
added 17 points. In Europe, equities were modestly lower on Monday amid
speculation that Friday's better-than-expected U.S. jobs report will lead the
Fed to hike rates soon. The European Central Bank launched its 60 billion
euro-a-month ($66.3b) bond-buying program on Monday and euro zone finance
ministers also discussed Greece's reform plans. Investors now see a June rate
rise as more likely after February's nonfarm jobs report showed a gain of
295,000, above expectations of 240,000 in February, down from 257,000 in
January.
The
unemployment rate fell to 5.5 percent, while hourly wages ticked up 0.1%, below
consensus and off the surprise 0.5% gain in January. The Dow Jones industrial
average traded up 158 points, or 0.89%, at 18,014. The S&P 500 traded up 11
points, or 0.54%, at 2,082, with industrials leading all sectors except
telecommunications higher. The Nasdaq gained 18 points, or 0.37%, at 4,945.
Gold is trading about 0.2% higher, crude oil is seen trading about 1.1% higher,
and the U.S. dollar is seen trading a tick higher at about 1:00pm Chicago
time.Friday, there were 590 contracts traded, down from 598 contracts traded on
Thursday. Open interest – the number of contracts outstanding – on Friday
decreased by 4 contracts to 9,095.
FAO Estimates Japan 2014-15 Rice Imports at 700,000 Tons
Mar 09, 2015
The
UN's Food and Agriculture Organization (FAO) estimates Japan's 2014-15
(April-March) rice imports at around 700,000 tons.Harvesting of the 2014 paddy
crop has been completed in November. The FAO estimates Japan's 2014 aggregate
paddy production at around 10.6 million tons (around 7.74 million tons, basis
milled), down about 1% from around 10.76 million tons (around 7.85 million
tons, basis milled) in 2013 due to a slight decline in planting area.USDA
estimates Japan to produce about 10.548 million tons of paddy (around 7.68
million tons, basis milled) in MY 2014-15 (November - October) and import
around 700,000 tons of rice in 2015.
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