Brazil Exports 119,828 Tons of Rice in First Two Months of 2015
Mar 18, 2015
Brazil
has exported around 119,828 tons of rice in the first two months of 2015,
according to data released by the Rice Institute of Rio Grande do Sul (IRGA).In
February 2015, Brazil exported around 49,915 tons of rice, down about 29% from
around 69,913 tons exported in January 2014.Sierra Leone remained the largest
importer of Brazilian rice in February 2015 with around 20,588 tons, or about
41% of Brazil's total rice exports during the month. Nigeria accounted for
around 16,283 tons (about 32% of Brazil's total exports during the month);
Bolivia accounted for around 5,191 tons (about 10% of Brazil's total exports
during the month); Chile accounted for 1,599 tons (about 3% of Brazil's total
exports during the month); and the U.S. and Turkey accounted for 2.7% and 2.5%
of Brazil’s total rice exports during February 2015 with around 1,367 tons and
around 1,250 tons respectively.
Trinidad and Tobago
(741 tons), Cape Verde (993 tons), Angola (74 tons), Panama (72 tons), Saudi
Arabia (364 tons), Canada (718 tons), Barbados (74 tons), Guinea Bissau
(184 tons), U.K. (176 tons), Netherlands Antilles (35 tons), Lebanon (72 tons),
South Africa (37 tons) and Paraguay (97 tons) accounted for the remaining 7% or
around 3,637 tons of Brazil's total rice exports in February 2015.Brazil
exported around 1.24 million tons of rice in 2014, up about 2.4% from around
1.209 million tons exported in 2013, according to data from IRGA.
Global Rice Quotes
March 18th, 2015
Long grain white rice - high quality
Thailand 100% B grade 400-410
↔
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 580-590 ↔
Argentina 5% broken 570-580 ↔
Long grain white rice - low quality
Thailand 25% broken 370-380 ↔
Vietnam 25% broken 340-350 ↔
Pakistan 25% broken 310-320 ↔
Cambodia 25% broken 410-420
↔
India 25% broken 360-370
↔
U.S. 15% broken 470-480
↔
Long grain parboiled rice
Thailand parboiled 100% stxd 385-395
↔
Pakistan parboiled 5% broken stxd 380-390
↔
India parboiled 5% broken stxd 380-390
↔
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% 890-900
↓
Vietnam Jasmine 455-465
↔
India basmati 2% broken NQ
↔
Pakistan basmati 2% broken NQ
↔
Cambodia Phka Mails 790-800
↔
Brokens
Thailand A1 Super 320-330
↔
Vietnam 100% broken 315-325
↑
Pakistan 100% broken stxd 280-290
↔
Cambodia A1 Super 345-355 ↔
India 100% broken stxd 275-285
↔
Egypt medium grain brokens NQ
↔
U.S. pet food 380-390 ↔
Brazil half grain NQ ↔
All prices USD per ton, FOB vessel, oryza.com
Higher Prices Prevent Thailand from Regaining Lost Market Share in Hong
Kong, Says TREA President
Mar 18, 2015
The
Thai Rice Exporters Association (TREA) President has expressed pessimism that
Thailand may not be able to regain its lost market share for fragrant rice in
Hong Kong this year also due to the higher prices, according to local
sources.Currently, Thai fragrant rice is quoted at around $900 per ton compared
to about $585 per ton of Vietnam's fragrant rice and about $600 per ton of
Cambodia's fragrant rice.
The
TREA President noted that rice subsidy schemes introduced by previous
governments are the main reason for Thailand losing share in important markets.
He said the governments hoped to receive higher prices but failed to recognize
that Thailand was losing its overseas market share due to higher market prices.
He added that Vietnam and other ASEAN rice exporters quickly upgraded their
rice to match Thai rice quality giving a tough competition to Thailand and
cutting into its market share.Thailand's share in Hong Kong's rice market has
declined to around 46% in 2013 from around 86% in 2008.
Thailand
could improve its share to only 48% in 2014, according to local
sources. Meanwhile, Vietnam increased its share in Hong Kong's rice market
from a mere 0.3% in 2004 to around 42% in 2014. However, its share dropped to
40% in 2014. The Director of the Hong Kong Economic and Trade Office for ASEAN
told local sources that Vietnam's strategy to sell its fragrant rice to
restaurants and canteens as well as to super markets. He noted that Vietnamese
fragrant rice has swiftly replaced Thai fragrant rice on the super market
shelves.
He
also expressed doubt if Thailand can regain its nearly 90% share in Hong Kong's
fragrant rice market as Cambodia has also entered the Hong Kong market last
year. Myanmar and other ASEAN nations may follow in the near future he
said.However, the Thai government is keen on regaining the lost market share in
Hong Kong's rice market to at least 70-80% over the next three to five
years.TREA expects Thailand to export about 10-11 million tons of rice in 2015.
Thailand exported around 10.97 million tons of rice in 2014, up about 66% from
around 6.61 million tons exported in 2013. Thailand government is keen on
accelerating the sales of rice stocks accumulated from the rice pledging scheme
introduced by the previous government. It currently has over 17 million tons in
stocks.
Brunei May Not Meet 60% Rice Self-Sufficiency Target in 2015 Due to
Infrastructure Deficiencies
Mar 18, 2015
Brunei rice production
has increased to around 1,380 tons in 2014, up about 12% from around 1,230 tons
produced in 2013, local sources quoted the Minister for Industry and Primary
Resources was quoted as saying in the Parliament.He however noted that the
country's rice production cannot meet the 60% self-sufficiency target set by
the government for 2015. He noted that the Ministry has identified certain
problem areas, which have to addressed to achieve a significant increase in
rice production.The Minister stated that the country's rice production
infrastructure is not optimal and the government has allocated certain budget
to improve the country's rice infrastructure.
He
noted that the Ministry is planning to increase the country's paddy rice
acreage along with identifying high yielding rice varieties. He added that the
government is also planning to construct irrigation projects to ensure
continuous water supply to paddy fields. However, drought-resistant rice
varieties such as beras pusu, beras adan and beras bukit, which require less
water, are being used extensively.
In
2008, the Sultan of Brunei said that Brunei Darussalam should not be dependent
on other countries for its rice supply and should have their own strategic plan
to ensure food security. However, Brunei’s rice production has remained at
around 1,000 tons since 2002, and the country imports most of rice required for
domestic consumption.The USDA estimates Brunei's milled rice production to
remain at 1,000 tons in the MY 2014-15 (January - December 2015), while rice
consumption is estimated to decline about 33% to around 41,000 tons in MY
2014-15. USDA estimates the country to import around 40,000 tons in MY 2014-15,
down about 33% from last year's import of 60,000 tons.
Oryza Afternoon Recap - Chicago Rough Rice Futures Jet Higher as FOMC
Statement Causes Broad Based Rally
Mar 18, 2015
Chicago
rough rice futures for May delivery settled 42 cents per cwt (about $9 per ton)
higher at $11.045 per cwt (about $243 per ton). Rough rice futures rocketed
higher on aggressive buying interest this morning and continued their upward
trajectory throughout the afternoon following supportive headlines. Prices
managed to break out of their sideways trading range which they had maintained
over the previous weeks, before continuing higher through psychological
resistance noted at $11.000 per cwt (about $243 per ton).Today’s action is seen
as a positive development, however traders will likely keep a close eye on
tomorrow’s session for signs of follow-through buying before being convinced
that a longer term move higher is underway.
The
other grains also shot higher today as today’s FOMC statement sent US stocks
and oil prices higher and the US dollar lower, both supportive for US grain
prices; Soybeans closed about 1.1% higher at $9.6500 per bushel; wheat finished
about 1.4% higher at $5.1075 per bushel, and corn finished the day about 1%
higher at $3.7475 per bushel.U.S. stocks reversed to trade higher on Wednesday
as investors digested signals on the timing of an interest rate hike from the
dovish Fed statement. The Federal Reserve dropped the word "patient"
from its post-meeting statement, a subtle indication that the era of zero
interest rates is about to end. Importantly for market analysts, the Fed also
lowered its December rate outlook.
The
Dow Jones industrial average rose more than 150 points to trade above 18,000
following the release of the statement. The Russell 2000 hit a new all-time
high. The U.S. 2-year Treasury note yield plunged to below 0.60% following the
news. The 10-year yield fell below 2%. The U.S. dollar edged lower and the euro
climbed to above $1.07. In a press conference following the statement's
release, Fed Chair Janet Yellen said she is not ruling out a rate hike after
April and that the timing of a raise is data dependent. The Dow Jones
Industrial Average traded up 144 points, or 0.81%, at 17,995.
The
S&P 500 traded up 17 points, or 0.81%, at 2,090. The Nasdaq traded up 28
points, or 0.56%, at 4,964. Gold is trading about 1.5% higher, crude oil is seen
trading about 2.6% higher, and the U.S. dollar is seen trading about 1.2%
lower at about 1:00pm Chicago time.Tuesday, there were 227 contracts
traded, down from 458 contracts traded on Monday. Open interest – the number of
contracts outstanding – on Tuesday decreased by 39 contracts to 8,851.
Oryza Overnight Recap – Chicago Rough Rice Futures Start the Day Higher
Along with Soy, While Wheat and Corn are Seen Lower
Mar 18, 2015
Chicago
rough rice futures for May delivery are currently listed 7 cents per cwt (about
$2 per ton) higher at $10.695 per cwt (about $236 per ton) during early floor
trading in Chicago. The other grains are seen trading mixed this morning:
soybeans are currently seen about 0.3% higher, wheat is listed about 0.2% lower
and corn is currently noted about 0.7% lower.U.S. stocks traded lower on
Wednesday as investors awaited signals on the timing of an interest rate hike
from the Fed statement and press conference expected in the afternoon.
The
Dow Jones industrial average briefly fell more than 100 points in morning
trade, losing its gains for the year. The index had nine triple-digit closes in
the last two weeks, four up and five down. The Federal Open Market Committee is
scheduled to conclude its two-day meeting on Wednesday, with investors watching
to see if "patient" remains in the statement or not. The highly
anticipated statement is expected at 2 p.m. ET, with a press conference by Fed
Chair Janet Yellen at 2:30 p.m. Several analysts said changing the Fed
statement wording would not be fundamentally significant for the stock market.
Oil
extended losses following the U.S. Energy Information Administration report
that oil inventories rose 9.6 million barrels. Crude traded just above $42 a
barrel and Brent above $53 a barrel. In Europe, stocks were mixed as investors
awaited the outcome of the Fed's meeting. Gold is currently trading slightly
lower, crude oil is seen trading about 2.5% lower, and the U.S. dollar is
currently trading about 0.1% higher at 8:00am Chicago time.
Thailand Rice sellers Lower Some of Their quotes; Vietnam Rice Sellers
Increase Some of Their Quotes
Mar 18, 2015
Thailand rice
sellers lowered their quotes for Hommali rice by about $5 per ton to around
$890 - $900 per ton today. Vietnam rice sellers increased their quotes for 100%
broken rice by about $5 per ton to around $315 - $325 per ton. Other Asia
rice sellers kept their quotes mostly unchanged today.
5% Broken Rice
Thailand 5% rice is
indicated at around $385 - $395 per ton, about a $20 per ton premium on Vietnam
5% rice shown at around $365 - $375 per ton. India 5% rice is indicated
at around $390 - $400 per ton, about a $45 per ton premium on Pakistan 5% rice
shown at around $345 - $355 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 indicated at around
$360 - $370, about a $50 per ton premium on Pakistan 25% rice shown at around
$310 - $320 per ton.
Parboiled Rice
Thailand parboiled
rice is indicated at around $385 - $395 per ton. India parboiled rice is
indicated at around $380 - $390 per ton, on par with Pakistan parboiled rice
shown at around $380 - $390 per ton.
100% Broken Rice
Thailand broken
rice, A1 Super, is indicated at around $320 - $330 per ton, about a $5 per ton
premium on Vietnam 100% broken rice shown at around $315 - $325 per ton, up
about $5 per ton from yesterday. India's 100% broken rice is shown at around
$275 - $285 per ton, about a $5 per ton discount to Pakistan broken
sortexed rice shown at around $280 - $290 per ton.
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