Red Yeast Rice as Alternative to Diabetes-Causing
Statins?
Mar 13, 2015
A new study
by researchers in Finland shows that cholesterol-lowering statin drugs may
significantly increase a person’s risk of developing type 2 diabetes – in fact,
it may increase a person’s risk by as much as 50%!
What’s a
person to do when faced with a choice between high cholesterol or increased
risk of type 2 diabetes?
Rice to the rescue once again! Red
yeast rice has been a controversial product – especially
in the West. In fact, Switzerland doesn’t even allow its sale in the
country. However, it’s popularly used in Asia for a variety of health
benefits, including lowering cholesterol and improving blood circulation.On the
back of a study showing that statins, which millions of people around the world
(and especially in the West) take daily, can increase the risk of another
chronic disease, perhaps scientists should consider investing research into red
yeast rice so that we can finally reach a conclusion about its efficacy in
treating cholesterol. If it is found to be scientifically effective, it
could prevent millions of people from developing type 2 diabetes every year.
Oryza Afternoon Recap - Chicago Rough Rice Futures Unable
to Resist Pressure as Surging US Dollar Weighs on US Grain Prices
Mar 13, 2015
Chicago rough rice futures for May delivery
settled 10 cents per cwt (about $2 per ton) lower at $10.580 per cwt (about
$233 per ton). The other grains also closed lower; Soybeans closed about 1.7%
lower at $9.7400 per bushel; wheat finished about 1% lower at $5.0200 per
bushel, and corn finished the day about 2.1% lower at $3.8050 per bushel.
U.S. stocks traded 1% lower on Friday as
investors eyed weak inflation data amid renewed dollar strength and sharply
lower oil prices. The U.S. dollar rose more than half a percent to a new
52-week high, on track for its first close above 100 since April 2003. The euro
extended losses to fall below $1.05. The Dow fell more than 250 points before
recovering slightly as the major indices extended losses, with nearly all blue
chips declining and all S&P 500 sectors in the red. The U.S. Producer Price
index for February showed a decline of 0.5%, missing estimates of a 0.3% gain.
Consumer sentiment data showed a preliminary read of 91.2 in March versus 95.4
in February.
The Federal Open Market Committee meets
next week, with all eyes on whether or not "patient" remains in the
statement. Quarterly options also expire. The Dow Jones Industrial Average
traded down 240 points, or 1.34%, at 17,654. The S&P 500 traded down 22
points, or 1.08%, at 2,043, with industrials leading all ten sectors lower. The
Nasdaq traded down 46 points, or 0.94%, at 4,847. Gold is trading about 0.2%
higher, crude oil is seen trading about 4.2% lower, and the U.S. dollar is seen
trading about 0.9% higher at about 1:00pm Chicago time.Thursday, there
were 610 contracts traded, up from 322 contracts traded on Wednesday. Open
interest – the number of contracts outstanding – on Thursday increased by 18
contracts to 8,979.
New Board Game Teaches Historical Rice Trading
Mar 13, 2015
Ever wondered what it was like to be a rice
trader 400 years ago? A new
game on Kickstarter called Fujian Trader can show you (well,
kind of). Fujian Trader is a trading game
based on an actual 17th century map used by an actual Chinese
trading family. The game appears to be similar to the popular Settlers
of Catan but is historically factual. Players work trade
routes on the gameboard to move their “ships” from port to port, fighting for
control of ports and negotiating trades along the way.
And rice is one of the resources
players can trade! The game mimics reality, where “ports” farther from
the Chinese mainland see higher prices for rice than “ports” closer to the
mainland. It would be a good way to teach older children about history
and trade at the same time.If you’re interested in the game, a donation through
Kickstarter can get you a printable game board – but you’ll have to wait until
December to get your hands on the real thing, complete with carved wooden game
pieces to maintain its historical accuracy.So what are you waiting for?
Now you can trade rice for fun, not just for work!
Weekly Recap: Rice Exports Quotes Continue Lower on
Supply Pressure
Mar 13, 2015
The Oryza
White Rice Index (WRI), a weighted average of global white rice export quotes,
ended the week at about $419 per ton, down about $3 per ton from a week ago,
down about $1 per ton from a month ago and down about $35 per ton from a year
ago.
The USDA
forecasts all rice exports in MY 2014-15 to reach 4.72 million tons, up about
11% from last year.
Thailand
Thailand 5%
broken rice is today shown at about $400 per ton, down about $5 per ton from a
week and a month ago and down about $15 per ton from a year ago.
In January
2015, Thailand exported about 610,504 tons of rice, down about 59% from December
2014 and down about 12% from January 2014.
Thailand
received bids for about 780,000 tons of rice on March 6. The government
had hoped to auction off one million tons.
Thailand and
China have sorted out the details of a deal signed between the two countries in
December. Under this deal, China agreed to buy about 2 million tons of
rice and 200,000 tons of rubber from Thailand.
India
India 5%
broken rice is today shown at about $395 per ton, unchanged from a week ago,
down about $5 per ton from a month ago and down about $30 per ton from a year
ago.
The
government has decided to sell excess rice stocks in the open market starting
April 1.
The
Federation of Indian Exports Organization (FIEO) and the Agricultural &
Processed Food Products Export Development Authority (APEDA) expect Iran to resume
basmati rice imports from India once the new financial year begins in April.
The Chief
Minister of the South Indian state of Telangana is urging the government to
reconsider its decision to end the levy rice procurement system starting from
the 2015-16 (October-September) kharif marketing season.
Chinese
plastic rice, made of potatoes, sweet potatoes, and Chinese polymer, is turning
up in consumer rice products in India. The plastic rice can cause
gastritis and other digestive problems and is causing the Indian government to
consider instituting a system to check imports of rice into the country.
The rice
sector in Bangladesh is facing severe trouble amidst continuing
political unrest and rising imports.
Vietnam
Vietnam 5%
broken rice is today shown at about $370 per ton, down about $5 per ton from a
week ago, up about $10 per ton from a month ago and down about $5 per ton from
a year ago.
Vietnam
exported about 421,202 tons of rice in the first two months of 2015, a decrease
of about 34% from the first two months of 2014. Average rice export price
so far this year is about $452 per ton (FOB), up about 5% from the same time
last year.
The Deputy
Minister for Industry and Trade is optimistic that rice exports, which declined
about 4% y/y to 6.4 million tons in 2014, will rebound in 2015 as a result of
increased demand from China and lower export prices.
The Ministry
of Agriculture and Rural Development of Vietnam plans to develop specialized
large-scale rice growing areas in the Mekong River Delta region to cater to the
growing needs of local and international market.
Pakistan
Pakistan 5%
broken rice is today shown at about $355 per ton, up about $5 per ton from a
week and a month ago and down about $50 per ton from a year ago.
Basmati rice
prices have seen a reversal and increased sharply in February 2015 after
declining consistently since September. The increase is likely due to
concerns over an anticipated reduction in 2014-15 production.
The Chairman
of the Rice Exporters Association of Pakistan forecasts that Pakistan may miss
the rice export target of 3.8 million tons in FY 2014-15 due to falling demand.
Central & South
America
Brazil 5% broken rice is today shown at about $550
per ton, unchanged from a week ago, up about $10 per ton from a month ago and
down about $115 per ton from a year ago.
Brazil’s
National Grains Supply Company (Conab) estimates 2014-15 paddy rice production
will be about 12.152 million tons, slightly up from 2013-14.
The
Brazilian paddy rice index maintained by the Center for Advanced Studies on
Applied Economics (CEPEA) reached around 36.02 real per 50 kilograms as of
March 09, 2015, down about 0.3% from around 36.13 real per 50 kilograms
recorded on March 02, 2015. In terms of USD per ton, the index reached
around $232 per ton on March 09, 2015, down about 8% from around $252 per ton
recorded on March 2, 2015.
Five percent
broken rice from Uruguay and Argentina is today
shown at about $580 per ton, down about $20 per ton from a month ago and down
about $45 per ton from a year ago.
In 2014,
Argentina exported around 510,707 tons of rice, down about 5% from the same
period in 2013, according to the Ministry of Agriculture.
The
government of Guyana has secured a deal with Venezuela to export
about 260,000 tons of paddy and rice in 2015, according to the Agriculture
Minister.
U.S.
U.S. 4%
broken rice is today shown at about $485 per ton, unchanged from a week and a
month ago and down about $100 per ton from a year ago.
The ongoing
drought in California is leading some experts to anticipate global medium-grain
rice prices will stay firm for the near future.
After
staying flat early in the week, Chicago rough rice futures for May delivery saw
a spike in prices Wednesday, when they reached a high of $10.740 per cwt (about
$237 per ton). Futures then dropped slightly to finish the week at
$10.615 per cwt (about $234 per ton).
The U.S.
cash market for rough rice was quiet and mostly unchanged this week, despite a
relatively bullish WASDE report that projected a 1 million cwt (45,359 tons)
increase in U.S. long grain exports.
Other Markets
Cambodia 5% broken
rice is today shown at about $430 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 UN’s
Food and Agriculture Organization (FAO) estimates 2014-15 rice imports for Japan to reach
around 700,000 tons.
The UN’s FAO
estimates Indonesia’s rice imports will reach about 1.2
million tons in 2014-15 (April-March), due to a reduction in 2014 aggregate
rice production. Meanwhile, the Indonesian President has ruled out rice
imports, despite continuing price hikes.
For the
third consecutive month, rice stocks in the Philippines continue to decline, according to the
Bureau of Statistics. As of February 1, stocks were around 2.35 million
tons, down about 12% from last month, but up about 17.5% from the same period
last year. Meanwhile, the Philippines Chief Economist is urging the government
to remove quantitative restrictions on rice imports in order to stabilize rice
prices in the country. Separately, the National Food Authority Council of the
Philippines has approved the government-to-government deals of Vietnam and
Thailand, with Vietnam supplying about 300,000 tons of rice and Thailand
supplying about 200,000 tons of rice by May 31.
South Korea’s state-run Agro Fisheries & Food
Trade Corporation is looking to buy about 58,897 tons of non-glutinous rice in
international tenders for delivery between June 30 and September 30, with
bidding occurring on March 24.
About
631,058 tons of Italian paddy crop has been sold as of March
3. This represents about 64.82% of total Italian 2014-15
(September-August) paddy crop, and is about 11% more sold than during the same
period last year, according to the Ente Nazionale Risi.
China has sold about 15,268 tons or 1.2% of 1.4
million tons of late-harvest rice from reserves.
Oryza Overnight Recap – Chicago Rough Rice Futures Higher
Overnight as Market Continues to Trade in Sideways Range
Mar 13, 2015
Chicago rough rice futures for May delivery
are currently listed 6.5 cents per cwt (about $1 per ton) higher at $10.700 per
cwt (about $237 per ton) ahead of floor trading in Chicago. The other grains
are seen trading mostly lower this morning: soybeans are currently seen about
0.7% lower, wheat is listed about 0.7% higher and corn is currently noted about
0.1% lower.
U.S. stock index futures indicated a
slightly lower open on Friday as uncertainty over the timing of an interest
rate rise lingers after a bumpy week. Stocks ended in the green on Thursday
following a rough few days, as mixed economic data indicated to some investors
that the Federal Reserve will not raise interest rates as early as anticipated.
Friday looks set to be a quiet day on the earnings front, with retailers Ann
and The Buckle among the companies due to report before the bell. The U.S.
Producer Price index for February showed a decline of 0.5%, missing estimates
of a 0.3% gain. Consumer sentiment data comes at 10 a.m. ET. Gold is currently
trading about 0.5% higher, crude oil is seen trading about 1.8% lower,
and the U.S. dollar is currently trading about 0.2% higher at 8:00am Chicago
time.
Rice: It's Not for Goats!
Mar 13, 2015
Go ahead and eat all the rice you want, but
please keep it away from any goats you have. Recently, five goats
distributed in India under the welfare scheme all died mysterious deaths.
Post-mortem autopsies showed the goats had eaten significant amounts of rice, a
food staple that’s not typically part of a goat’s diet. Animal Husbandry
officials speculate the rice caused “abnormal secretion of gastric fluids” like
acid which led to the animals’ sudden deaths.However, veterinarians maintain
that white rice can be a good food substitute for other pets, like cats and
dogs, when they have upset stomachs. Just don’t let your goats near it!
Drought Might 'Make It Rain' for California Rice Farmers
Mar 13, 2015
Rice farmers in drought-stricken California
might finally have something to look forward to: the Metropolitan Water
District of Southern California has offered up to $71 million for farmers to
ship their water to the Los Angeles area in southern California. As much
as 115,000 acre-feet of water, or more than 37 billion gallons, could be sold.According
to the Sacramento
Bee, some
farmers may actually make more cash from selling their water than they would
from selling their rice! Last year, when Sacramento Valley water
districts shipped their water down south they were getting $500 an
acre-foot. This year prices are around $700 an acre-foot. (An acre
foot is 326,000 gallons and will supply roughly two Southern California
households for about a year.)
So far, nine irrigation districts have made
tentative deals with the Water District to ship some of their water.This news
might decrease rice acreage in California even further; in 2014 rice acres in
California decreased by 140,000 acres due to drought, and about one-fourth of
the crop didn’t get planted. Most rice farmers in the Sacramento Valley
region make around $1,000 to $1,500 an acre profit when they plant rice.
Idling an acre of rice would save about 3 acre-feet of water, or more than
$2,100 at this year’s rates. However, many growers take a long-term
approach and recognize the importance of supporting the rice industry as a
whole; most farmers will likely still grow some rice – the question is how
much?
FAO Says Vietnam Main Season Rice Planting Delayed, but
Overall Prospects Are Favorable
Mar 13, 2015
Rice
harvesting of the 2014-15 main crop (winter-spring) is currently going on in
Vietnam and will continue until the end of July. Below average rains from
mid-January to late February, delayed planting in main rice producing area,
according to FAO. In the organization’s latest official estimates planting has
been completed on about 2.39 million hectares as of mid - February, down about
8% from last year. However, FAO notes that overall prospects for current paddy
crop is expected to remain favorable due to near average rainfall and adequate
irrigation water supply for the remainder of the season.
Meanwhile, FAO says that Vietnam is
expected to export about 6.9 million tons rice in 2015, up about 7% from last
year. Vietnam exported about 515,000 tons of rice in first two months of 2015,
down about 30% from same period last year, according to the General Statistic
Office of Viet Nam (GSO).For 2014, FAO estimates total paddy rice production in
Vietnam is expected to reach a record level of 45 million tons in 2014, up
about 2% from about 44.04 million tons produced in 2013, due to higher yields
amid favorable weather conditions.
In Vietnam, wholesale prices of rice decreased
in February due to ample existing supplies and new crop harvest. Meanwhile, the
Vietnam's Government has approved the purchase of 1 million tons of rice from
the winter-spring crop to support domestic prices. The procurement program
began on 1 March, 2015 and will continue until 15 April, 2015.
Asia Rice Quotes Unchanged Today
Mar 13, 2015
Asia rice
sellers kept their quotes mostly unchanged today.
5% Broken Rice
Thailand 5%
rice is indicated at around $395 - $405 per ton, about a $30 per ton premium on
Vietnam 5% rice shown at around $365 - $375 per ton.
India 5%
rice is quoted at around $390 - $400 per ton, about a $40 per ton premium on
Pakistan 5% rice quoted at around $350 - $360 per ton.
25% Broken Rice
Thailand 25%
rice is shown at around $370 - $380 per ton, about a $30 per ton premium on
Vietnam 25% rice shown at around $340- $350 per ton.
India 25%
rice is quoted at around $360 - $370, about a $45 per ton premium on Pakistan
25% rice quoted at around $315 - $325 per ton.
Parboiled Rice
Thailand
parboiled rice is indicated at around $400 - $410 per ton.
India
parboiled rice is quoted at around $380 - $390 per ton, about $15 per ton
discount to Pakistan parboiled rice quoted at around $395 - $405 per ton.
100% Broken Rice
Thailand
broken rice, A1 Super, is quoted at around $320 - $330per ton, about a $15 per
ton premium on Vietnam 100% broken rice shown at around $305 - $315per ton.
India's 100%
broken rice is shown at around $275 - $285 per ton, about a $15 per ton
discount to Pakistan broken sortexed rice quoted at around $290 - $300
per ton.
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