Asia Rice Quotes Unchanged Today
May 20, 2015
Asia rice sellers
kept their quotes mostly unchanged today.
5% Broken Rice
Thailand 5% rice is
indicated at around $370 - $380 per ton, about a $20 per ton premium on Vietnam
5% rice shown at around $350 - $360 per ton. India 5% rice is indicated
at around $370 - $380 per ton, about a $25 per ton discount to Pakistan 5% rice
shown at around $395 - $405 per ton.
25% Broken Rice
Thailand 25% rice is
shown at around $350 - $360 per ton, about a $20 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 $10 per ton discount to Pakistan 25% rice shown at around
$355 - $365 per ton.
Parboiled Rice
Thailand parboiled
rice is indicated at around $370 - $380 per ton. India parboiled rice is
indicated at around $360 - $370 per ton, about a $45 per ton discount to
Pakistan parboiled rice shown at around $405 - $415 per ton.
100% Broken Rice
Thailand broken
rice, A1 Super, is indicated at around $315 - $325 per ton, about a $10 per ton
premium on Vietnam 100% broken rice shown at around $305 - $315 per ton.
India's 100% broken rice is shown at around $270 - $280 per ton, about a $30
per ton discount to Pakistan broken sortexed rice shown at around $300 -
$310 per ton.
Global Rice Quotes
May
21st, 2015
Long
grain white rice - high quality
Thailand
100% B grade 380-390 ↔
Vietnam
5% broken 350-360 ↔
India 5%
broken 370-380 ↔
Pakistan
5% broken 405-415 ↑
Myanmar
5% broken 415-425 ↔
Cambodia
5% broken 430-440 ↔
U.S. 4%
broken 465-475 ↓
Uruguay
5% broken 565-575 ↔
Argentina
5% broken 555-565 ↔
Long
grain white rice - low quality
Thailand
25% broken 350-360 ↔
Vietnam
25% broken 330-340 ↔
Pakistan
25% broken 360-370 ↑
Cambodia
25% broken 410-420 ↔
India
25% broken 345-355 ↔
U.S. 15%
broken 455-465 ↓
Long
grain parboiled rice
Thailand
parboiled 100% stxd 370-380 ↔
Pakistan
parboiled 5% broken stxd 405-415 ↔
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% 865-875 ↔
Vietnam
Jasmine 480-490 ↔
India
basmati 2% broken NQ ↔
Pakistan
basmati 2% broken NQ ↔
Cambodia
Phka Mails 815-825 ↔
Brokens
Thailand
A1 Super 315-325 ↔
Vietnam
100% broken 305-315 ↔
Pakistan
100% broken stxd 305-315 ↑
Cambodia
A1 Super 350-360 ↔
India
100% broken stxd 270-280 ↔
Egypt
medium grain brokens NQ ↔
U.S. pet
food 365-375 ↔
Brazil
half grain NQ ↔
All
prices USD per ton, FOB vessel, oryza.com
FAO Estimates Indonesia Rice Imports to Decline Sharply in 2015-16
May 20, 2015
The
UN's Food and Agriculture Organization (FAO) estimates Indonesia to import
around 900,000 tons of rice in 2015-16 (April - March), down about 25% from
around 1.2 million tons last year due to a favorable outlook for 2015 aggregate
rice production. It estimates Indonesia's total cereal imports in 2015-16 at
around 11.5 million tons, down about 3% from around 11.15 million tons last
year.
The
FAO estimates Indonesia's 2015 aggregate paddy rice production at around 73
million tons (around 46.72 million tons of rice, basis milled), up about 3%
from an estimated 70.61 million tons (around 45.2 million tons of rice, basis
milled) in 2014.Harvesting of the 2015 main season paddy crop (mid-October to
mid-May) is ongoing and will continue till mid-July. Favourable weather
conditions, coupled with diverse initiatives launched by the government to
support production, including the rehabilitation of irrigation channels,
distribution of subsidized seeds and fertilizers, are expected to increase the
yields of the main season, says the FAO. It also expects a slight expansion in
area planted for the 2015 secondary season rice crop (June to mid-December).The
government has been aiming to achieve self-sufficiency in rice production this
year and accordingly has been providing support to the sector.
Average
rice prices have been increasing since September 2014 and have reached record
levels in March 2015. However, since April, prices reversed direction due to
the government intervention as well as increased supplies from the 2015 main
season rice crop. Currently, prices stand at around 9.875 million Rupiah
(around $751) per ton, down about 1.25% from around 10 million Rupiah (around
$770) per ton in April 2015.USDA estimates Indonesia to produce around 36.3
million tons of rice, basis milled (around 57.17 million tons, basis paddy),
and import around 1.25 million tons of rice in MY 2014-15 (October -
September).
MRF Expects Myanmar to Export 2 Million Tons of Rice in FY 2015-16; Up 18%
from Last Year
The
Myanmar Rice Federation (MRF) has expressed confidence that the country would
export about 2 million tons of rice in the fiscal year 2015-16 (April - March)
due to increasing demand from China, Africa and Europe, according to local
sources.Cross border rice exports to China, which slowed down between August
2014 to February 2015 due to lack of a proper trade agreement between the two
countries have reportedly resumed again following the signing of a Memorandum
of Understanding (MOU) between the MRF and China's COFCO to export 100,000 tons
this year. Traders told local sources that around 4,000 tons of rice is being
exported to China currently through borders every day.Myanmar's rice exports
have been increasing consistently for the last three years, according to the
Ministry of Commerce. Myanmar exported about 1.7 million tons of rice in FY
2014-15, about 1.2 million tons of rice in FY 2013-14 and about 1.4 million
tons of rice in FY 2012-13. The government is keen on increasing rice exports
to around 3 million tons over the next few years and has prioritized rice in
its National Export Strategy (NES).
The
NES will focus on seven main sectors - rice, peas and pulses, fisheries
productions, textiles, timber and forest products, rubber, and tourism - over
the next five years to enhance the country's export reach as well as to the
trade deficit, which is stood at around $5 billion in 2014-15, according to the
Commerce Ministry. Sources at the Ministry noted that the NES implementation
would cost the government about $900 million over the next five years.USDA
estimates Myanmar to produce 19.688 million tons of paddy rice (around 12.6
million tons, milled basis) and export around 1.85 million tons of rice in MY
2014-15 (January - December 2015).
Limited Financing Options Hamper Export Opportunities for Cambodian Rice
Millers, Say Experts
May 20, 2015
Limited
access to finance, warehousing and logistical support are hampering export
potential of Cambodian rice millers, local sources quoted some experts as
saying.A recent report by the UN Economic and Social Commission for Asia and
the Pacific (UNESCAP) noted that Cambodian rice millers need to invest hugely
in increasing their milling capacity and irrigation facilities to scale up
exports. However, an official from the Cambodia Rice Federation (CRF) told
local sources that Cambodian rice millers are facing acute financing problem
and the government has not taken enough measures to address this issue. Due to
this they are not in a position to scale up their milling and warehousing
capacities.
He
noted that Cambodian rice millers most of the time end up selling their stocks
to Vietnam and Thai traders. They get attracted to huge amounts paid by them he
says. Vietnam and Thai governments provide subsidies and warehouse facilities
during the harvest season Cambodia lags behind such facilities.The official
also noted that while the country currently has the potential to export around
1.5 million tons of rice, mills are currently working at only 30-40% of their
capacities due to low stocks available. Millers need a huge working capital to
buy paddy, stock and mill it and export it. However lack of access to working
capital has been forcing millers to keep their mills idle most of the time.
Though some private banks have been providing loans to millers, their conditions
for collateral are tough to meet, he says. Moreover, private banks always
retain the authority whether or not to sanction the loan, he adds.
The
government has targeted to export around 1 million tons of rice in 2015, but it
is far away from the target due to these inherent problems, he says.Cambodia
exported around 201,183 tons of rice in the first four months of 2015, up about
67% from around 120,291 tons exported during the same period in 2014. Cambodia
exported around 387,061 tons of rice in 2014.USDA estimates Cambodia to produce
around 4.7 million tons of milled rice and export around 1.1 million tons
(including official exports and unofficial exports to Vietnam and Thailand) in
MY 2014-15 (January - December 2015).
Oryza Afternoon Recap - Chicago Rough Rice Futures Close Lower as Sellers
Face Lack of Demand
May 20, 2015
Chicago
rough rice futures for Jul delivery settled 8 cents per cwt (about $2 per ton)
lower at $9.570 per cwt (about $211 per ton). The other grains finished the day
mostly lower; Soybeans closed about 0.5% lower at $9.4125 per bushel; wheat
finished about 0.5% higher at $5.1300 per bushel, and corn finished the day
about 0.6% lower at $3.6000 per bushel.U.S. stocks traded sideways on Wednesday
following a record close on the Dow as investors awaited the afternoon release
of the Fed meeting minutes.
The
major averages attempted to hold slight gains after fluctuating around the
flatline. The Dow transports fell more than 1.5% as airline stocks declined.
The Federal Reserve Open Market Committee releases the minutes from its April
meeting at 2 p.m. The statement from that month removed all calendar references
to the timing of a short-term interest rate hike. Chicago Fed President Charles
Evans said in Munich on Wednesday that a rate hike is not likely to be
appropriate until early 2016, Reuters reported. Investors are also looking
ahead to a Friday speech from Fed chief Janet Yellen for possible new clues on
when the central bank may start raising interest rates.
The
Dow Jones Industrial Average traded down 16 points, or 0.09%, at 18,296. The
S&P 500 traded down 3 points, or 0.13%, at 2,125, with telecommunications
leading four sectors higher and industrials the greatest laggard. The Nasdaq
traded down 6 points, or 0.13%, at 5,063. Gold is trading about 0.2% higher,
crude oil is seen trading about 1.6% higher, and the U.S. dollar is seen
trading about 0.4% higher at about 1:00pm Chicago time.Tuesday, there
were 266 contracts traded, down from 398 contracts traded on Monday. Open
interest – the number of contracts outstanding – on Tuesday decreased by 13
contracts to 11,169.
Oryza U.S. Rough Rice Recap - Sideways Market as Buyers and Sellers Wait
for Better Prices
May 20, 2015
The
U.S. cash market was sideways today with little to no trading to report as most
sellers remain on the sidelines hoping for prices to improve while buyers do
the same.Analysts continue to note that without an increase in export demand
prices will likely trend lower however some are hopeful that demand from either
the Venezuela or Iraq will show up and support the market.
Oryza Overnight Recap – Chicago Rough Rice Futures Seen Continued to be
Dragged Lower by Bearish Grains and Lack of Fundamental Support
May 20, 2015
Chicago
rough rice futures for Jul delivery are currently seen paused 3 cents per cwt
(about $1 per ton) lower at $9.620 per cwt (about $212 per ton) ahead of floor
trading in Chicago. The other grains are seen trading lower; soybeans are
currently seen about 0.7% lower, wheat is listed about 0.7% lower and corn is
currently noted about 0.3% lower.U.S. stock index futures indicated a flat to
higher open for Wall Street shares Wednesday ahead of the release of
the minutes of April's Federal Reserve meeting, following another record close
for the Dow Jones the previous session.
On an otherwise quiet day for U.S. economic
data, attention is expected to turn to the Fed minutes at 2:00 p.m. ET.
The Fed's last meeting was a relatively uneventful one and preceded the release
of several softer-than-expected economic figures. Markets are also already
looking ahead to a speech Fridayfrom Fed chief Janet Yellen for possible
new clues on when the central bank may start raising interest rates. Yellen is
scheduled to speak Friday at the Greater Providence Chamber of
Commerce Economic Outlook Luncheon at 1 p.m. She is not expected to
take questions.
The
Dow Jones industrial average closed at a record for the second day in a
row on Tuesday, ending below and intraday high of 18,351.36 set earlier
that session. Gold is currently trading about 0.3% higher, crude oil is seen
trading about 1.2% higher, and the U.S. dollar is currently trading
slightly higher at 8:15am Chicago time.
U.S. Southern States Look to Compensate for Tighter Rice Supplies from
California
May 20, 2015
The
U.S. southern states such as Arkansas and Louisiana, which typically grow
long-grain rice, are looking to increase medium-grain production, in which
California tops, in order to compensate for tighter supplies from the western
state, according to AgAlert.While California rice growers are forced to reduce
their acreage this year due to water restrictions and drought, the two states
have reportedly increased the medium-grain acreage in expectation of higher
returns. While the U.S. long-grain rice prices declined about 8% to around $475
per ton from around $515 per ton in the beginning of this year, the U.S. medium
grain rice prices declined about 7% to around $850 per ton from around $915 in
the beginning of this year.According to USDA, while California's total rice
acreage (mostly of medium grain) had declined about 30% to around 434,000 acres
(around 175,634 ha) in 2014 from around 567,000 acres (around 229,457 ha) in
2013, medium grain acreage in southern states more than doubled in 2014 to
around 301,000 acres (around 121,810 ha). Surprisingly, the U.S. medium grain
acreage increased 6% y/y in 2014.
USDA
reports that this year, southern states are planning to plant medium grain rice
in about 311,000 acres (around 125,857 ha) while California total rice acreage
is expected to further decline to around 408,000 acres (around 165,112 ha),
including 375,000 acres (around 151,757 ha) of medium grain.Keeping aside the
acreage issue, most of the traditional customers of California medium-grain
rice such as Turkey, Taiwan, Turkey, Jordan, Israel and Saudi Arabia have been
buying medium-grain rice from the southern states. Normally, California rice is
known to be highly priced but the southern states have been offering medium
grain rice at competitive prices.
Due
to this, California rice growers are left with huge quantities of last year's
stocks. Some rice growers told reporters that California medium-grain rice is
also facing a stiff competition from Australia as well, especially in the
Middle East markets. The recent port closures have also disrupted rice exports
from California, they said. However, they are convinced that if the drought
continues this year also, prices may impacted significantly.
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