India's
Open Market Rice Auctions Receive Lukewarm Response Due to High Prices
May 27, 2015
Oryza.com -
India's rice auctions under the
Open Market Sale Scheme (OMSS) since their launch on April 1 this year have
received a lukewarm response from traders and private purchasers, according to
local sources.With an intention to clear off the buffer stocks with
the Food Corporation of India (FCI, the government of India has allowed
the FCI to offload excess rice stocks to the extent of around 2 million tons to
bulk buyers such as millers and traders. Any government agencies are not
allowed to participate in bidding, according to local sources.However, the FCI
received bids for only 350 tons so far. An official from Food Ministry told
local sources that the demand was low as the prices of Rs.2,300 per quintal
(around $369 per ton) for common grade paddy and Rs.2,340 per quintal (around
$375 per ton) for Grade A paddy offered by the FCI are higher than the
prevailing market price.
The official added that the rice
price was set based on the Minimum Support Price (MSP), at which the government
agencies procure rice from farmers. The minimum and maximum auction quantities
of rice for sale under OMSS are 50 tons and 3,500 tons per week respectively.He
noted that if the demand does not pick up, the government may decide to wind up
the rice sales under OMSS.India’s rice stocks in the central pool as of May 1,
2015 stood at around 22.23 million tons (including a milled equivalent of about
7.968 million tons of paddy), down about 22% from around 28.41 million tons
recorded during the same period last year, according to data from FCI. Current
rice stocks are about 94% more than the required buffer and strategic reserve
norms of around 12.2 million tons for this time of the year.
IPAB to
Hear Basmati GI Certification Case in July 2015
May 27, 2015
The Chennai-based Intellectual
Property Appellate Board (IPAB) will reportedly hear the claims of parties
involved in the basmati gegraphical indications (GI) certification case for
three days starting from July 8, 2015, a move that could see legal protection
granted to Indian basmati rice, according to local sources.India's petition to
grant a legal protection to basmati rice is being delayed since 2009, when the
the Agricultural and Processed Food Products Export Development Authority
(APEDA) applied for the GI protection for the first time. However, based
on complaints from the Madhya Pradesh department of farmer welfare and
agriculture development and some basmati exporters in the state, in December
2013, the GI Registry directed the APEDA to file an amended GI application to
include Madhya Pradesh as a basmati growing area. Not convinced by
the GI Registry's directive, the APEDA approached the Intellectual
Property Appellate Board (IPAB) in February 2014 to decide over the inclusion
of Madhya Pradesh in its Geographical Indications (GI) application. The Madhya
Pradesh state farmers' body also appealed against the APEDA with the IPAB.The APEDA
has been very keen on not including other basmati growing states, other than
those recognized by National Agricultural Research System under the agriculture
and co-operative department, in its application as it views the GI status is
critical in determining the genuine basmati rice cultivators. The Commerce and
Agriculture Ministries as well as some renowned agricultural scientists in
India are also opposed to the inclusion of Madhya Pradesh in the definition of
traditionally basmati-growing geography as it would undermine the rights of
those farmers who have been traditionally growing basmati in Indo-Gangetic
plain.Meanwhile, Pakistan's Basmati Growers Association (BGA) also appealed to
the IPAB against granting legal protection to Indian basmati rice.A GI
certification label certifies the geographical origin of a product and confirms
adherence to some production standards. It also prevents producers who aren't
covered by the tag from using the same thereby providing a legal protection to
the cultivation and use of the specific product.
South
Korea Buys 55,378 Tons of Non-Glutinous Brown Rice from U.S. and China in
Tender
May 27, 2015
South Korea's state run Agro
Fisheries & Food Trade Corporation (KAFTC) has purchased 55,378 tons of
non-glutinous brown rice of the U.S. and Chinese origins, according to a
statement on its website.The tonnage and price details of the various varieties
of rice purchased are as below.KAFTC originally sought to purchase about 75,378
tons of non-glutinous rice via eight tenders
but will announce the results for 10,000 tons of non-glutinous short-grain
brown rice, 9,000 tons 10,000 tons of non-glutinous medium-grain brown rice
after sample tests are complete, according to the website. Results for
10,352 tons of non-glutinous medium-grain rice are also not specified by the
KAFTC.
Oryza
Overnight Recap – Chicago Rough Rice Futures Remain Under Pressure from Lack of
Demand
May 27, 2015
Chicago rough rice futures for
Jul delivery are currently seen paused 1.5 cents per cwt (about $0.33 per ton)
lower at $9.405 per cwt (about $207 per ton) during early floor trading in
Chicago. The other grains are seen trading with mixed results; soybeans are
currently seen about 0.2% higher, wheat is listed about 1.3% lower and corn is
currently noted about 0.9% lower.U.S. stocks traded higher on Wednesday,
recovering some of Tuesday's sharp decline, as investors eyed Greece headlines
amid continued rise in the dollar and bond yields. The Dow Jones industrial
average traded about 105 points higher. The blue chip index fell as much as 242
points on Tuesday before closing 190 points lower. European stocks opened
higher and rallied on encouraging reports out of Greece. The German DAX gained
more than 1 percent, while Greece's ATHEX Composite traded 3.5% higher. No
major data is expected Wednesday. Weekly mortgage applications dropped 1.6% as
higher rates put a pause on refinancing. Investors will continue to watch the
Dow transports, which attempted to trade about half a percent higher. The index
extended its recent selloff on Tuesday, with its 50-day moving average falling
below its 200-day moving average. Gold is currently trading slightly higher,
crude oil is seen trading about 0.4% lower, and the U.S. dollar is
currently trading about 0.1% higher at 8:30am Chicago time.
Thailand
Rice Sellers Lower Some of Their Quotes Today; Other Asia Quotes Unchanged
May 27, 2015
Thailand rice sellers lowered
their quotes for Hommali rice by about $10 per ton to around $850 - $860 per
ton today. Other 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 $35 per ton discount to Pakistan 5% rice shown at
around $405 - $415 per ton.
25% Broken Rice
Thailand 25% rice is shown at
around $350 - $360 per ton, about a $25 per ton premium on Vietnam 25% rice
shown at around $325- $335 per ton. India 25% rice is indicated at around $345
- $355, about a $15 per ton discount to Pakistan 25% rice shown at around $360
- $370 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 $5 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 $30 per ton
discount to Pakistan broken sortexed rice shown at around $305 - $315 per
ton.
Global Rice Quotes
May
28th, 2015
Long
grain white rice - high quality
Thailand
100% B grade 375-385 ↓
Vietnam
5% broken 350-360 ↔
India 5%
broken 370-380 ↔
Pakistan
5% broken 405-415 ↔
Myanmar
5% broken 420-430 ↔
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 325-335 ↔
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 365-375 ↓
Pakistan
parboiled 5% broken stxd 405-415
↔
India
parboiled 5% broken stxd 350-360 ↓
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% 845-855 ↓
Vietnam
Jasmine 470-480 ↔
India
basmati 2% broken NQ ↔
Pakistan
basmati 2% broken NQ ↔
Cambodia
Phka Mails 815-825 ↔
Brokens
Thailand
A1 Super 315-325 ↔
Vietnam
100% broken 310-320 ↔
Pakistan
100% broken stxd 305-315 ↑
Cambodia
A1 Super 350-360 ↔
India
100% broken stxd 275-285 ↔
Egypt
medium grain brokens NQ ↔
U.S. pet
food 365-375 ↔
Brazil
half grain NQ ↔
All
prices USD per ton, FOB vessel, oryza.com
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