Global Rice Quotes
April 28th, 2015
Long grain white rice - high
quality
Thailand 100% B grade 395-405 ↔
Vietnam 5% broken 355-365 ↔
India 5% broken 365-375 ↓
Pakistan 5% broken 375-385 ↔
Myanmar 5% broken 410-420 ↔
Cambodia 5% broken 430-440 ↔
U.S. 4% broken 480-490 ↔
Uruguay 5% broken 565-575 ↔
Argentina 5% broken 555-565 ↔
Long grain white rice - low
quality
Thailand 25% broken 355-365 ↔
Vietnam 25% broken 330-340 ↔
Pakistan 25% broken 330-340 ↔
Cambodia 25% broken 410-420 ↔
India 25% broken 335-345 ↓
U.S. 15% broken 470-480 ↔
Long grain parboiled rice
Thailand parboiled 100% stxd 380-390 ↔
Pakistan parboiled 5% broken stxd 385-395 ↔
India parboiled 5% broken stxd 360-370 ↓
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% 895-905 ↔
Vietnam Jasmine 485-495 ↔
India basmati 2% broken NQ ↔
Pakistan basmati 2% broken NQ ↔
Cambodia Phka Mails 810-820 ↔
Brokens
Thailand A1 Super 320-330 ↔
Vietnam 100% broken 310-320 ↔
Pakistan 100% broken stxd 285-295 ↔
Cambodia A1 Super 345-355 ↔
India 100% broken stxd 270-280 ↓
Egypt medium grain brokens NQ ↔
U.S. pet food 370-380 ↔
Brazil half grain NQ ↔
All prices USD per ton, FOB vessel,
oryza.com
EU-Funded ERMES Project Develops Apps to
Monitor Rice Crop Growth
Apr 27, 2015
The
European Union's (EU) funded research project Ermes, which was started last
year to investigate and develop Earth Observation (EO), crop modelling and
smart technologies, completed its first year and its achievements during the
year were reported in the first annual meeting in March this year, according to
local sources. The project mainly focuses on the three rice-growing EU
countries - Italy, Spain and Greece.The project developed a Smart App to help
farmers collect and store field-scale information regarding agricultural
practices. These data provide farmers wit real time information related to rice
fields.
Other
major achievement of the Ermes project is the development of phenological maps
to help monitor rice crop growth. These maps can be derived from analysis of
250m spatial resolution satellite images acquired during the rice growing
season using an algorithm specifically developed for rice crop growth
monitoring. Results of the analysis are then aggregated on a regular 2x2 km
grid, and provide estimates of the average sowing, emergence and heading dates
of rice crops within each cell.
Rice
maps provide information on the extent of the area covered by rice crop
cultivations during the on-going season (“early rice area map”, mid-July) and
at the end of the season (“end of season rice area map”, mid-October). The
results of the data can used by local governments, regulatory agencies or
agribusiness companies
Oryza Overnight Recap – Chicago Rough Rice Futures Look Poised to Test
Resistance at $10.000
Apr 27, 2015
Chicago
rough rice futures for May delivery are currently seen 1 cent per cwt (about
$0.22 per ton) higher at $9.990 per cwt (about $220 per ton) during early floor
trading in Chicago. The other grains are seen trading with mixed results:
soybeans are currently seen about 0.7% higher, wheat is listed about 0.9% lower
and corn is currently noted 0.4% lower.U.S. stocks traded higher on Monday,
extending gains from last week's rally to highs, as investors took a positive
view on earnings reports ahead of the Federal Reserve meeting this week. The
S&P 500 and Nasdaq closed at records on Friday. The S&P hit a new
intraday high in early trade on Monday, surpassing the 2,120.92 intraday level
set last week. The Fed are meeting on Tuesday and Wednesday this week, with the
conclusion and post-meeting statement due Wednesday.
The
recent string of weak data and first-quarter growth expected at around 1% has
convinced many in the markets that the Fed will not raise interest rates until
September at the earliest. In economic news, U.S. services sector expansion
eased slightly in April from a seven-month high in March on a dip in new
business growth, but the pace of hiring in the sector accelerated to its
highest since last June, an industry report showed on Monday. Financial firm
Markit said its "flash,'' or preliminary, reading of its Purchasing
Managers Index for the services sector slipped to 57.8 in April from a final
reading of 59.2 in March, which had been the highest level since August. The
major economic report for the week is the initial read on first quarter GDP.
The
Dow Jones Industrial Average opened up 85 points, or 0.47%, at 18,164. The
S&P 500 opened up 6 points, or 0.29%, at 2,123, with energy the greatest of
eight advancing sectors and consumer staples and utilities the only laggards.
The Nasdaq opened up 14 points, or 0.27%, at 5,105. Gold is currently trading
about 2.1% higher, crude oil is seen trading about 0.6% higher, and the
U.S. dollar is currently trading slightly lower at 9:30am Chicago time.
China Tightens Control Over Unofficial
Rice Imports from Vietnam
Apr 27, 2015
The
Chinese authorities have reportedly tightened control over unofficial rice
imports from Vietnam, according to local sources.Unofficial rice trade between
the two countries via border gates has been very rampant for many years and
traders on both ends buy/sell rice very easily without the need for any agreements.
However, the Chinese authorities have closed the border gates.
Local
sources say due to the Chinese authorities' actions, a number of trucks loaded
with rice have been queued up at the border gates waiting for the approval of
the Chinese authorities. Nearly 30,000 tons of rice is understood to be stuck
at border gates and faces risk of decay as it is exposed to all kinds of
weather conditions, according to the Ban Quan border guard unit in Lao Cai's
Bao Thang district.
The
Vietnamese district heads of concerned border gates are understood to have
apprised about the situation to the government. They are also negotiating with
the Chinese authorities to open gates in Lung Po, Ban Quan, Na Loc and other
places and lift the blockade for Vietnamese rice to enter China.Despite the
government's discouraging cross-border exports, Vietnamese rice exporters often
prefer cross-border exports because of lesser quality checks at the borders.
Recently the government had also warned about the risks associated with such
exports. The Chinese importers prefer importing rice through borders rather
than through official channels to cut costs, according to a local trader. For
instance, if they import rice through official channels, they need to pay an
extra amount of about $160 per ton, including a quota fee of $80 per ton, VAT
and import tax. That means, for Viet 5% rice, which costs $360 per ton will
cost importers about $520 per ton.According to the VFA, last year, while
Vietnam exported about 6.3 million tons of rice, nearly 2 million tons, or 30%
of total rice exports, had been exported through borders.
Government of Bangladesh May Impose Duty on Rice Imports to Stabilize
Domestic Prices
Apr 27, 2015
The
National Board of Revenue (NBR) of Bangladesh is likely to impose duty on rice
imports based on the recommendations of the Food Ministry to prevent prices
from falling as well as to ensure fair prices to farmers, according to local
sources.The Food Ministry apprised the NBR that the price of rice in the
domestic market was declining for last couple of months due to increasing
imports from India. Absence of import duty on rice is being considered as one
of the reasons for an unusual surge in imports.It reportedly told the NBR that
falling prices during the ongoing Boro (January - May) harvest may deprive
farmers of decent prices. Some farmers' associations are also demanding for
immediate imposition of duty as boro harvesting would reach its peaks shortly.
Officials
at the NBR told local sources that the customs wing of the revenue board is
likely to seek the Finance Ministry's opinion regarding the same. They told
that the board is preparing a summary of the recommendations to be sent to the
Finance Ministry. The board will also seek the Finance Minsiter's permission to
consult with the Food and Agriculture Ministries before deciding the rate of
duty, they added.The existing customs laws allow for imposition of regulatory
duty on rice imports only during the harvesting and procurement period. The
officials noted that accordingly, the NBR may impose duty on rice imports for a
short period as a temporary measure to stabilize prices in the local market.
They added that the issue may be settled before May 1, 2015.
Bangladesh's private
sector imported about 1.29 million tons of rice in July 1, 2014 - April 21,
2015, nearly 3.5 times more than 374,560 tons of rice imported in the entire
2013-14 fiscal year (July - June) and highest in the last four years since
2010-11, according to data from the Ministry of Food. The Ministry shows that
the government has so far not imported any rice in this fiscal despite setting
a target to import about 200,000 tons of rice in the fiscal year 2014-15 to
replenish falling stocks in the country.
The government's
procurement of Boro rice from May 1, 2015 is likely to provide a cushion to
farmers against falling prices. The government is planning to procure one
million tons of 2015 Boro paddy and 100,000 tons of Boro rice between May 1,
2015 and August 31, 2015. It has fixed the procurement price for paddy at Tk 22
per kilogram (around $283 per ton) and that for rice at Tk 32 per kilogram
(around $412 per ton).Bangladesh produced around 34.449 million tons of rice,
basis milled, in FY 2013-14 (July - June), up about 2.7% from around 33.833
million tons produced in FY 2012-13, according to the Agriculture
Ministry.
Oryza Afternoon Recap - Chicago Rough Rice Futures Remain under Pressure as
Market Lacks Fundamental Support
Apr 27, 2015
Chicago
rough rice futures for May delivery settled 12.5 cents per cwt (about $3 per
ton) lower at $9.855 per cwt (about $217 per ton). The other grains finished
the day with mixed results; Soybeans closed about 0.2% higher at $9.7300 per
bushel; wheat finished about 3.1% lower at $4.7325 per bushel, and corn
finished the day about 1% lower at $3.6075 per bushel.U.S. stocks reversed to
trade mostly lower on Monday, with the Nasdaq and S&P 500 struggling to
hold onto Friday's record close as investors digested earnings and looked ahead
to the Federal Reserve meeting later in the week. The Nasdaq reversed to trade
mildly lower around noon as biotech stocks lagged. The Dow Jones industrial
average attempted to hold gains but traded mostly lower as UnitedHealth led
laggards with a decline of about 2%.
Earlier,
stocks extended gains from last week with the S&P hitting a new intraday
high on Monday, surpassing the 2,120.92 intraday level set last week. The
S&P 500 and Nasdaq closed at records on Friday. n economic news, U.S.
services sector expansion eased slightly in April from a seven-month high in
March on a dip in new business growth, but the pace of hiring in the sector
accelerated to its highest since last June, an industry report showed on
Monday. The Dow Jones Industrial Average traded down 10 points, or 0.06%, at
18,060. The S&P 500 traded down 5 points, or 0.21%, at 2,113, with
materials leading five advancing sectors and health care the greatest laggard.
The Nasdaq traded down 23 points, or 0.44%, at 5,069. Gold is trading about
2.3% higher, crude oil is seen trading about 0.8% lower, and the U.S. dollar is
seen trading about 0.2% lower at about 1:00pm Chicago time.Friday, there
were 1,615 contracts traded, down from 1,920 contracts traded on Thursday. Open
interest – the number of contracts outstanding – on Friday increased by 27
contracts to 11,277.
Oryza U.S. Rough Rice Recap - Prices Hold as Domestic Buyers Support
Market; Rice Plantings 15% behind 5-Year Average
Apr 27, 2015
The
U.S. cash market was mostly unchanged today as domestic buyers continue to
support the market despite weakness in the futures market.Analysts note that
there was limited quantity of paddy into mills around $10.00 per cwt (about
$221 per ton) while trade activity on the river was dormant.In the meantime,
the USDA estimates that as of April 26th, 39% of the US rice crop
had been planted which is 4% behind this time last year and 15% behind the
previous 5-year average. As of now, the USDA estimates that farmers have
planted at 37% of their rice crop in Arkansas, 7% in California, 85% in
Louisiana, 49% in Mississippi, 3% in Missouri, and 64% in Texas.The USDA also
estimates that 26% of the crop has emerged which was 2% ahead of this time last
year but 8% behind of the previous 5-year average. As of now, the USDA estimates
that 20% of the rice crop in Arkansas has emerged compared to , 1% in
California, 71% in Louisiana, 30% in Mississippi, 2% in Missouri, and 61% in
Texas.
Pakistan Rice Sellers Increase Some of Their Quotes Today; Other Asian Rice
Quotes Unchanged
Apr 27, 2015
Pakistan rice
sellers increased quotes for 5% broken rice, for 100% broken rice and parboiled
rice by about $5 per ton each to around $375 - $385 per ton, around $285 - $290
per ton and around $385 - $395 per ton respectively today. Other Asian rice
sellers kept their quotes unchanged from yesterday.
5% Broken Rice
Thailand 5% rice is
indicated at around $380 - $390 per ton about a $25 per ton premium on Vietnam
5% rice shown at around $355 - $365 per ton. India 5% rice is indicated at
around $370 - $380 per ton, a 5% discount to Pakistan 5% rice shown at around
$375 - $385 per ton.
25% Broken Rice
Thailand 25% rice is
shown at around $355 - $365 per ton, about a $25 per ton premium on Vietnam 25%
rice shown at around $330- $340 per ton. India 25% rice is indicated at
around $345 - $355, about a $15 per ton premium on Pakistan 25% rice shown at
around $330 - $340 per ton.
Parboiled Rice
Thailand parboiled
rice is indicated at around $380 - $390 per ton. India parboiled rice is
indicated at around $365 - $375 per ton, about a $20 per ton discount to
Pakistan parboiled rice shown at around $385 - $395 per ton.
100% Broken Rice
Thailand broken
rice, A1 Super, is indicated at around $320 - $330 per ton, about a $10 per ton
premium on Vietnam 100% broken rice shown at around $310 - $320 per ton.
India's 100% broken rice is shown at around $275 - $285 per ton, about a
$10 per ton discount to Pakistan broken sortexed rice shown at around $285 -
$295 per ton.
Rice Farms Can Serve as Agritourism Sites!
Apr 27, 2015
The
Philippine Rice Research Institute (PhilRice) has planned to use rice farms as
agritourism sites as part of its Future Rice Program. In these sites, visitors
and farmers can understand about possible future rice farming scenarios and get
to know about various technologies used in rice cultivation, according to local
sources.The PhilRice has selected a 5-hectare rice farm in Munoz, Nueva Ecija
as its first agritourism site. PhilRice's Future Rice Program Leader told local
sources that the farm selected uses clean and renewable energy, including
solar-powered water pump and biogas digester that provides alternative fuel
from animal wastes. It also uses hybrid rice varieties such as Mestiso 19 and
20, rare collection of traditional varieties, aromatic rice, submergence
tolerant varieties, farmers’ varieties called ‘double diamond,’ and Korean
varieties, he adds.
The
PhilRice official also notes that the selected farm provides education,
exposure, and experience to rice farmers and extension workers through
training, site visits, and agricultural events. It also provides visitors with
agricultural adventures such as rice planting and harvesting as well as other
recreational activities such as boating, fishing, and kayaking.
Vietnam Plans to Build Thermal Power
Plants Using Rice Husk
Apr 27, 2015
Vietnam
is planning to build 20 thermal power plants using rice husk as part of efforts
to convert rice wastes (such as rich husks, sawdust and bagasse) into sources
of clean energy, according to local sources.The government will build thermal
power plants in Mekong River Delta (MRD)'s five provinces - An Giang,
Kien Giang, Hau Giang, Dong Thap and Can Tho - with a total capacity of 200
megawatts. These plants are expected to use 200 tons of rice husk everyday and
the waste generated by the plants will be used in the making of high-quality
cement and electrically insulated materials.The government has started the
construction of the first thermal rice husk-run power plant, costing about $31
million, on a 9-hectare land plot in Long My District of the southern province
of Hau Giang.
Scientists have been
for a long time stressing to build rice-husk power plants in MRD, which is the
largest rice growing region in the country and generates nearly 5 million tons
of rice husk annually, as huge quantities of rice husk are burnt or left into
canals and rivers causing environmental pollution.
They say if Vietnam
uses its agricultural wastes effectively, it can save hugely on producing
fossil fuels, create several jobs for locals and ensure national power
security.
Colombia's Rice Import Barriers Increase Domestic Rice Prices and Inflation
Rates, Says Former Central Bank Official
Apr 27, 2015
Colombia's
rice import barriers have been widening the price differential between local
rice prices and international rice prices, and consequently leading to high
inflation levels and interest rates in the country, Bloomberg quoted a former
Central Bank Co-Director.Excessive protectionism coupled with lower production
forecasts last year due to unfavorable weather conditions have pushed up the
rice prices and currently inflation is at a six-year high, says the official.
He notes that the Central Bank is now forced to increase interest rates in
order to check inflation. Since rice contributes significantly to the inflation
basket, correction of rice prices is imperative to maintain economic growth, he
adds.
Citing
a 2013 study, the former Central Bank official says eliminating the gap between
the local prices and international prices would reduce poverty levels in the
country. In March this year, average price of white rice stood at around 2.78
million pesos (around $1,130) per ton in Colombia compared to around $485 per
ton in the U.S, according to data from of the National Federation of Rice
Growers (FedeArroz). Reducing this gap would address the issue of poverty in
the country, he said.However, the Head of the FedeArroz says governments of
many rice exporting countries such as the U.S., Vietnam and Thailand subsidize
their rice growers and so they can afford to price their rice competitively. He
adds that subsidized imported rice would affect the competitiveness of local
Colombian farmers who do not have adequate support, so protectionist policies
are needed to sustain local rice production.
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