European Farmers' Union Opposes
Changes in EU CAP
Jun
15, 2015
European farmers of the
confederation of farmers' unions COPA are opposing a mid-term review of the
current EU Common Agricultural Policy (CAP), which was approved in 2014 and is
valid till 2020, according to local sources.The EU officials are understood to
propose changes to the current CAP in mid-term review in order to simply
certain rules. Recently, the EU Farm Commissioner Phil Hogan announced about
plans to simply certain CAP rules.However, the European farm unions are against
any changes to the CAP. They say the new CAP is not even in force in many of
the EU countries and in countries where it has been introduced, farmers are
trying to understand its terms. So they opine that farmers need stability to
enable them to plan until 2020 under the current CAP rules.
Addressing a group of farm leaders
in Riga, the COPA President said: "We are against having a mid-term review
of the CAP as many farmers are still struggling to get to grips with the
current reform package agreed only last year. We need to make the CAP work. We
nevertheless welcome Commissioner Hogans CAP simplification plans which the
Latvian Presidency made a lot of progress on. We hope the Luxembourg Presidency
will continue this action."He also urged the EU Commission and Council to
extend the June 15 deadline to receive CAP application from farmers as farmers
in some member states are facing difficulties in completing the application
forms.Copa-Cogeca Secretary-General appreciated the efforts by the Latvian
Presidency to get workable rules on the EU organic farming review to enable the
sector to grow well.
FAO Estimates Philippines 2015
Rice Imports to Decline
Jun
15, 2015
The UN's Food and Agricultural
Organization (FAO) has forecasted the Philippines 2015 rice imports to decline
to around 1.7 million tons from an estimated 1.9 million tons last year.The FAO
forecasts Philippines 2015 paddy rice production at around 18.4 million tons
(around 12 million tons, basis milled), down about 2% from an estimated 18.854
million tons (around 11.88 million tons, basis milled). Planting of the 2015
main season rice crop, accounting for about 55% of annual production, is
nearing completion. Lower-than average rainfall in April and May has most
likely delayed planting operations and reduced sowings particularly for the
rain fed rice crop. The current dry weather is attributed to the onset of a
weak El Nino event this year.
Though, reports from the main
meteorological and oceanic institutions conformed the onset of a weak to
moderate El Nino event, uncertainty about the intensity and duration as well as
its impact on crops still persists. Rainfall performance in the following weeks
will be crucial for avoiding reductions in plantings and yield potential of the
2015 main season rice crop, says the FAO.According to the FAO, the average
retail prices of regular and well-milled rice varieties continued to decline in
May 2015 for the eighth consecutive month after continuously increasing since
last October, due to increased supplies from the 2015 secondary season harvest.
Overall, rice prices were slightly below their high levels of a year earlier.
USDA estimates the Philippines to import around 1.7 million tons of milled
rice in 2015, up about 42% from an estimated 1.2 million tons in 2014. USDA
estimates the South-East Asian nation to produce around 19.365 million tons of
paddy (around 12.2 million tons, basis milled) in MY 2014-15 (July - June), up
about 3% from an estimated 18.82 million tons (around 11.86 million tons, basis
milled) in MY 2013-14.
FAO to Support Zambia Rice
Sector with $484,000 Project
Jun
15, 2015
The UN's Food and Agriculture
Organization (FAO) has agreed to support the Zambian rice sector under its
technical cooperation program (TCP), according to local sources.Responding to
the government of Zambia's request to provide support to boost the country's
rice production over the next two years, the FAO has reportedly launched a rice
project costing about $484,000.The project aims at “strengthening rice seed
production, and enhancing extension services to increase rice production in
Zambia,” according to the FAO representative to Zambia. "The TCP allows
for the implementation of a demand-driven technical assistance that responds to
government’s priority needs, catalyse change, foster capacity development, and
assist member countries in mobilising resources," he said.
He also noted that the Zambian
Ministry of Agriculture and Livestock has already invested in improving the
rice value chain in the country and the project would provide a push in taking
forward the government’s plans. “The project, therefore, draws upon the
successes that have been achieved so far, and it incorporates the lessons
learned from past experiences," he added. He expressed confidence that the
project would contribute positively to the economic and food security of
Zambia."The project is aimed at increasing rice production in Zambia by
addressing some of the key constraints being faced by rice producers who are
mainly small-scale farmers. These constraints will be addressed through
interventions such as the purification of existing rice varieties, and the
development of improved varieties, supporting multiplication and supply of
quality seed of rice,” added the Ministry of Agriculture and Livestock
permanent secretary.According to USDA, Zambia produced around 30,000 tons of
milled rice in MY 2013-14 (July - June) from around 30,000 hectares of rice
land, and imported around 10,000 tons to meet consumption needs of around
40,000 tons.
Global Rice Quotes
June
16th, 2015
Long grain white rice - high quality
Thailand
100% B grade 365-375 ↔
Vietnam
5% broken 345-355 ↔
India
5% broken 365-375 ↓
Pakistan
5% broken 380-390 ↑
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 340-350 ↔
Vietnam
25% broken 330-340 ↔
Pakistan
25% broken 335-345 ↔
Cambodia
25% broken 410-420 ↔
India
25% broken 350-360 ↓
U.S.
15% broken 455-465 ↔
Long grain parboiled rice
Thailand
parboiled 100% stxd 360-370 ↔
Pakistan
parboiled 5% broken stxd 400-410 ↔
India
parboiled 5% broken stxd 355-365
↔
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% 840-850 ↔
Vietnam
Jasmine 475-485 ↔
India
basmati 2% broken NQ ↔
Pakistan
basmati 2% broken NQ ↔
Cambodia
Phka Mails 820-830 ↔
Brokens
Thailand
A1 Super 315-325 ↔
Vietnam
100% broken 310-320 ↔
Pakistan
100% broken stxd 295-305 ↑
Cambodia
A1 Super 350-360 ↔
India
100% broken stxd 280-290 ↔
Egypt
medium grain brokens NQ ↔
U.S.
pet food 365-375 ↔
Brazil
half grain NQ ↔
All
prices USD per ton, FOB vessel, oryza.com
Oryza Afternoon Recap - Chicago
Rough Rice Futures Make Afternoon Recovery to Close Higher on the Day
Jun
15, 2015
Chicago rough rice futures for Jul
delivery settled 9.5 cents per cwt (about $2 per ton) higher at $9.775 per cwt
(about $215 per ton). The other grains traded lower; Soybeans closed about 0.2%
lower at $9.3775 per bushel; wheat finished about 2.9% lower at $4.8925 per
bushel, and corn finished the day about 1.3% lower at $3.4825 per bushel.U.S.
stocks pared losses on Monday after opening sharply lower, following a decline
in European equities on the collapse of weekend talks between Greece and its
creditors. The Dow Jones industrial average fell back into the red for 2015.
The index traded about 90 points lower after earlier falling nearly 200 points.
Information technology was among the greatest decliners in the S&P 500 as
all 10 sectors fell.
The German DAX closed 1.89% lower,
while the Greek ATHEX Composite briefly fell more than 5% as regional bank
stocks sold off. Greek 10-year bond yields gained about 4% after earlier
spiking more than 7%.Athens and its creditors failed to come to a deal over the
weekend because Athens did not accept demands for deeper reforms of pensions,
value-added tax (VAT) and of its administration, labor markets and industry,
Reuters said. The European Commission said on Monday that Greece's creditors
have made substantial concessions, and Germany's EU commissioner said the time
had come to prepare for a "state of emergency".
European Central Bank President Mario Draghi
also said on Monday that the ECB would continue approving emergency funding for
Greek banks as long as they have enough cash and collateral to operate. He
added "the ball lies squarely in the camp of the Greek government to take
the necessary steps." Outside of developments in the Greece debt talks,
the key event for the week is the Federal Open Market Committee's two-day
meeting, which begins on Tuesday and concludes Wednesday afternoon with a
statement and press conference. Investors will scrutinize the release for
indications on the timing of a short-term interest rate hike, for which
consensus is September. Economic reports on Monday were mixed.
However, the second-tier data
follows recent improvement in retail sales and the labor market. The Dow Jones
Industrial Average traded down 90 points, or 0.50%, at 17,808. The S&P 500
traded down 9 points, or 0.39%, at 2,085, with industrials leading all sectors
except health care lower. The Nasdaq traded down 18 points, or 0.36%, at 5,032.
Gold is trading about 0.6% higher, crude oil is seen trading about 0.7% lower,
and the U.S. dollar is seen trading about 0.2% lower at about 2:00pm
Chicago time.Friday, there were 979 contracts traded, up from 964 contracts
traded on Thursday. Open interest – the number of contracts outstanding – on
Friday decreased by 210 contracts to 11,688.
Oryza U.S. Rough Rice Recap -
Prices Hold Steady amid Limited Buy-Sell Interest; Crop Improves Slightly
Jun
15, 2015
The U.S. cash market was unchanged
today as both buyers and sellers remain on the sidelines waiting for prices to
improve and neither see much of a reason to change their strategy as of
yet.Analysts note that there are still ample supplies of rice available
especially in North East Arkansas and many are concerned that there is not
enough demand at these levels to make a sufficient dent in the supply before
new crop is available.
In the meantime, the USDA estimates
that as of June 14th, 69% percent of the crop in good to
excellent condition, which was up 1% from last week and on par with this time
last year. As of now, the USDA estimates that 65% of the crop in Arkansas is in
good to excellent condition compared to, 85% in California, 68% in Louisiana,
75% in Mississippi, 53% in Missouri, and 52% in Texas.
Philippines Re-invites Bids for
100,000 Tons of Rice Import
Jun
15, 2015
The National Food Authority (NFA) of
the Philippines has re-invited bids for the remaining 100,000 tons from the
June 5 tender, BusinessworldOnline quoted Reuters.The NFA has reportedly
invited governments of Thailand, Vietnam and Cambodia, with which the
Philippines has bilateral agreements, to send their bids in sealed covers. The
NFA will reportedly open the sealed bids on June 16.NFA invited tenders from
Vietnam and Thailand to supply 250,000 ton of 25% broken long-grain white rice
for delivery between July and August, to replenish stocks during the lean
season (July - September) as well as prevent commercial rice price hikes.
However, it imported only 150,000
tons from Vietnam at $410.12 per ton as Thailand backed out from the tender
considering the price offered by the NFA as too low. Cambodia did not
participate in the bid.The NFA is authorized to import another 250,000 tons in
case El Nino weather pattern intensifies. Last week, the NFA Public Affairs
Director told reporters that the agency is planning to purchase 250,000 tons of
rice through negotiated procurement. He noted that Thailand, Vietnam and Cambodia
have been invited for Government-to-government (G2G) negotiations this week.The
agency is also considering to import 805,200 tons of rice this month through
private traders under the WTO minimum access volume (MAV), including 755,000
tons in the country-specific- quota (CSQ) and 50,000 tons in the omnibus quota.
Imports under MAV attract 35% duty and imports over and above MAV attract 50%
duty.
The Philippines already imported
500,000 tons of rice from Vietnam and Thailand this year to curb price increases
and boost buffer stocks. Last year, the South-east Asian nation imported more
than 1.8 million tons of rice (including 1.5 million tons of 2014 imports and
300,000 tons of 2013 residual imports) to replenish rice stocks and control
price hikes.Last week, the Bureau of Agricultural Statistics (BAS) reportedly
told that that the Philippines' rice stocks as of May 1, 2015 are enough to
last for 93 days (household stocks are enough for 44 days, commercial
warehouses stocks are enough for 31 days and stocks with NFA are enough for 18
days).
Thai PWO Declares 650,000 Tons
of Stockpiled Rice as Rotten
Jun
15, 2015
Thailand's Public Warehouse
Organization (PWO) has declared about 650,000 tons of rice as rotten, which is
not fit for human and animal consumption or for ethanol production, according
to local sources. The PWO noted that the stated amount of rice could be used as
fuel in electricity generation.The PWO Chairman told reporters that about one
million tons of rice, including 650,000 tons that is unfit for human and animal
consumption, is known to be of inferior quality. Of the remaining 350,000 tons,
about 300,000 tons are an 80:20 mix of good quality rice and C grade rice and
about 54,000 tons are white rice mislabelled as jasmine and sticky rice. 
The PWO is reportedly working with
the police to know the exact amount of rice that is in good condition and rice
that is missing or is in bad/deteriorating condition. The government is
planning to sell the low quality rice stocks to the industrial sector once the
police investigation is complete.The government currently has 16-17 million
tons of rice in stocks and is keen on selling about 10 million tons of rice
this year and about 7 million tons next year. It sold about 1.28 million tons
of rice raising 15.85 billion baht (around $471 million) in two auctions this
year.
Thai Rice Farmers Advised to
Delay Main Crop Planting Due to Drought
Jun
15, 2015
The Thai Agriculture Ministry has
advised the rice farmers to delay their main (wet) rice crop planting in the
main rice growing area of Chao Phraya River Basin area due to drought
conditions prevailing in most of the provinces thereby affecting the water
supplies, according to Reuters. The basin area represents 30% of the country's
land area, according to the UN.The Agriculture Minister was quoted as saying
that nearly 22 out of 76 provinces are affected by drought conditions impacting
about 7.45 million hectares of rice land (or nearly 80% of the country's total
rice crop acreage of around 10.3 million hectares). He noted that farmers began
rice planting in May in over 3.44 million hectares of land in the basin and the
Ministry has urged the farmers to suspend planting in the remaining 4 million
hectares.
He said the government is planning
to organize the water that is being used. The government said it is planning to
invest $7.5 billion in urgent water management projects over the next two
years.The Deputy government spokesman also urged the households to use water
conservatively as the government is expecting the water shortage this year to
be severe compared to last year. According to the Royal Irrigation Department,
as of today, medium and large reservoirs held only 46% of their total
capacity.Meanwhile, farmers suffering from drought are urging the government to
increase compensation from 1,000 baht per rai ($186 per hectare), with a limit
of 15 rai (2.4 hectares), to around 2,000 - 3,000 baht per rai (around $371 -
$557 per hectare), with a limit of 20 rai (3.2 hectares) as it is not
sufficient for them in the present conditions.USDA estimates Thailand to
produce 28.409 million tons of paddy rice (around 18.75 million tons, milled
basis) in MY 2014-15 (January - December 2015), down about 8% from around
31,000 million tons (around 2.46 million tons, milled basis) in MY 2013-14. It
estimates Thailand to export around 11 million tons of rice in 2015, slightly
up from around 10.969 tons in 2014.
USDA Forecasts 2015-16 Global
Milled Rice Production to Reach Record High Due to Higher Acreage
Jun
15, 2015
In its June Rice Outlook report,
USDA forecasts 2015-16 global milled rice production at around 481.7 million tons, up
about 1.2% from an estimated 476.1 million tons in 2014-15 due to an expected
increase in rice acreage.According to USDA, 2014-15 global rice production is
slightly lower than that in 2013-14 due to expected decline in production in
India and Thailand.USDA forecasts 2015-16 global rice acreage at a record 161.8 million
hectares, up about 1% from an estimated 160.3 million hectares in 2014-15 and
most of the increase in acreage is expected in Bangladesh, India and Thailand.
USDA forecasts the average global yield at 4.44 tons per hectare (on rough rice
basis), fractionally above 2014-15.
The U.S. Agency forecasts East Asia
and Southeast Asia to harvest record crops in 2015-16. It forecasts South Asia
to harvest a larger crop in 2015-16 while South America’s 2015-16 production is
projected to decline slightly. These four regions account for about 95 percent
of global rice production.
In June, USDA lowered production
prospects for Brazil and North America in 2015-16 due to drop in paddy rice
acreage, while it increased production prospects for Guyana based on government
data reporting a record 2015-16 first crop harvest.USDA estimates 2015-16 global 
rice consumption and residual use at around 489 million tons, up
about 1% from last year's 484 million tons. China accounts for the bulk of the
projected increase in global consumption, according to USDA. Rice consumption
is expected to reach record-high in Bangladesh, Myanmar, Cambodia, India,
Indonesia, the Philippines, Thailand, and Vietnam. It also expects U.S.
Consumption to increase about 1% y/y. Consumption is estimated to exceed
production by 7.2 million tons.
rice consumption and residual use at around 489 million tons, up
about 1% from last year's 484 million tons. China accounts for the bulk of the
projected increase in global consumption, according to USDA. Rice consumption
is expected to reach record-high in Bangladesh, Myanmar, Cambodia, India,
Indonesia, the Philippines, Thailand, and Vietnam. It also expects U.S.
Consumption to increase about 1% y/y. Consumption is estimated to exceed
production by 7.2 million tons.
The U.S. agency estimates 2015-16 global rice ending stocks to decline by about 7% y/y
to around 91.4 million tons. USDA estimates lower ending stocks in India,
Indonesia and Thailand but higher stocks in the U.S. It estimates 2014-15
global stocks-to-use ratio at 18.7%, down from last year's 20.4%.
USDA Forecasts Global Rice Trade
to Decline in 2016
Jun
15, 2015
In its June Rice Outlook report,
USDA has forecasted 2016 global rice trade at around 42.4 million tons, down about
2% from an estimated 43.26 million tons in 2015. USDA says the decline in
global trade in 2016 can be attributed to weaker shipments from India, Pakistan
and Australia as well as weaker purchases by Southeast Asia and Sub-Saharan
Africa.On the exports side, USDA expects Thailand to remain the number one rice
exporter in 2016 with 11 million tons followed by India with 8.5 million tons.
It expects Vietnam with 6.7 million tons and Pakistan with 3.8 million tons to
be third and fourth largest exporters. USDA expects increased exports from
Cambodia (increase 9% y/y to 1.2 million tons) and Myanmar (increase 8% y/y to
2 million tons).
On the imports side, USDA expects
China to remain top importer in 2016 with a record 4.7 million tons, up 7% from
2015, despite a record crop. It expects Nigeria to follow with 3 million tons.
USDA estimates The European Union, Iran, Iraq, Indonesia, Malaysia, the
Philippines, Saudi Arabia, Senegal, and South Africa to import 1-2 million tons
of rice in 2016.For 2015, USDA raised its import estimates for Bangladesh, the
Philippines Tanzania and Nepal.
Vietnam Exports About 2.123 Million Tons of Rice During January 1 – June
11, 2015
Jun
15, 2015
Vietnam exported about 2.123 million
tons of rice in January 1 - June 11, 2015, down about 29.6% from about 3.015
million tons of rice exported in first half of 2014, according to data from the
Vietnam Food Association (VFA). Average rice export price so far in this year
stands at about $421 per ton (FOB), down about 2.3% per ton from about $431 per
ton recorded during same last year.
During June 1-11, 2015, Vietnam
exported about 41,842 tons of rice, down about 94% from about 671,174 tons rice
exported in full month of June 2014, and down about 92% from about 525,742 tons
rice exported in full month of May 2015. Average export prices in so far in
June stands at about $432 per ton, up about 2% per ton from a year and a month
ago.
Vietnam, Pakistan Rice Sellers
Lower Their Quotes Today; Other Asia Rice Quotes Unchanged
Jun
15, 2015
Vietnam rice sellers lowered their quotes for 5% broken rice and 100%
broken rice by about $5 per ton each to around $345-$355 per ton and $310-$320
per ton respectively. Pakistan rice sellers lowered most of their quotes by
around $5-$10 per ton today. Other Asia rice sellers kept their quotes mostly
unchanged.
5% Broken Rice
Thailand 5% rice is indicated at around $355 - $365 per ton, about a $10
per ton premium on Vietnam 5% rice shown at around $345 - $355 per ton,
down about a $5 per ton from Friday. India 5% rice is indicated at around $375
- $385 per ton, on par with Pakistan 5% rice shown at around $375 - $385 per
ton, down about a $5 per ton from Friday.
25% Broken Rice
Thailand 25% rice is shown at around $340 - $350 per ton, about a $10 per
ton premium on Vietnam 25% rice shown at around $330- $340 per ton.
India 25% rice is indicated at around $360 - $370, about $25 per ton
premium on Pakistan 25% rice shown at around $335 - $345per ton, down about a
$10 per ton from Friday.
Parboiled Rice
Thailand parboiled rice is indicated at around $360 - $370 per ton. India
parboiled rice is indicated at around $355 - $365 per ton, about a $45 per ton
discount to Pakistan parboiled rice shown at around $400 - $410 per ton, down
about a $10 per ton from Friday.
100% Broken Rice
Thailand broken rice, A1 Super, is indicated at around $315 - $325 per ton,
about $5 per ton premium on Vietnam 100% broken rice shown at around $310 -
$320 per ton, down about a $5 per ton from Friday. India's 100% broken rice is
shown at around $280 - $290 per ton, about a $10 per ton discount to
Pakistan broken sortexed rice shown at around $290 - $300 per ton, down about a
$5 per ton from Friday.
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