Philippines Considers New
Technology to Analyze Nutrients in Rice Plants
Jun
16, 2015
Researchers from the Philippine Rice
Research institute (PhilRice) is exploring new technology called
visible-near-infrared (Vis-NIR) Spectroscopy to estimate content of nitrogen in
the leaves of some Philippine irrigated lowland rice varieties, according to a
news release on the PhilRice website.Vis-NIR spectroscopy can be useful in
arriving at the exact amount of fertilizers needed by rice plants. It can also
be useful for knowing the exact timing for fertilizer application.
The technology is more popular in
the U.S. and Australia and is used to analyze nutrients in plants. It can also
be used to analyze soil, chemical and grain quality. It is known to analyze
data in less than a minute.The lead researcher of the project noted that though
there are various tools, such as the Soil Test Kit and Leaf Color Chart, in the
country to guide farmers with application rates of fertilizers and minimize
environmental pollution, but the Vis-NIR spectroscopy helps in determining the
nutrient status from tissue analysis of the plants at different growth stages
and quantifies the nutrient demand and correspondingly helps in applying the
needed fertilizers at appropriate time.However, the PhilRice official noted
that the initial costs associated with the technology are high as they need to
be imported. Currently such instruments, which can be used for commercial
purposes, cost about P4-5 million (around $88,506 - $110,633) in the Philippines.If
manufactured locally, such instruments can be got at about P100,000 to 150,000
(around $2,212 - $3,319), says the official.
Philippines Approves Up to
805,200 Tons of Rice Imports through Private Traders; Rejects Bids for 100,000
Tons
Jun
16, 2015
The National Food Authority (NFA) of
the Philippines has approved private traders to import up to 805,200 tons of
25% well-milled rice under the WTO minimum access volume (MAV) to maintain
buffer stocks and avoid potential price spikes amid fears of an impending El
Nino weather pattern, according to a statement on the NFA website.Private
importers can apply to the NFA for import permits from next month, Reuters
quoted the spokesman of the NFA. Rice shipments are expected to arrive before
November 30, 2015.
As per the WTO guidelines, about
293,100 tons of rice can be imported each from Thailand and Vietnam; about
50,000 tons can be imported each from India, Pakistan and China; and 15,000
tons can be imported from El Salvador and the remaining 54,000 tons from other
countries. Import tariffs on the rice shipments are pegged at 35%.Meanwhile,
the NFA has rejected bids by Vietnam, Thailand and Cambodia for 100,000 tons of
rice today as all the three bidders offered prices higher than the government's
reference price of $408.14 per ton, according to Reuters.
The 100,000 tons are part of June 5
tender in which the NFA invited bids for 250,000 tons from Vietnam, Thailand
and Cambodia but purchased only 150,000 tons from Vietnam. While Thailand
offered to sell 100,000 tons at $418 per ton, Vietnam and Cambodia offered $417
per ton and $464 per ton respectively.The NFA reportedly asked all the three
governments to submit revised bids by 07.00 GMT today.The NFA bought 650,000
tons of rice (450,000 tons from Vietnam and 200,000 tons from Thailand) so far
this year. It is authorized to import another 250,000 tons in case El Nino
weather pattern intensifies.However, the NFA Deputy Administrator told
reporters that the government will assess next month the impact of El Nino on
rice production and decide on the additional imports.
Weather forecasters are expecting El
Nino pattern to intensify in the latter part of the year significantly
impacting the rice and other crops production. The Philippines Statistics
Authority (PSA) also estimated Philippines's 2015 second quarter (April - June)
production to decline by about 4.3% to around 3.898 million tons from last
year's 4.073 million tons due to a decline in harvest area prompted by dry
spell and insufficient water supply as well as incidence of pests and diseases in
some rice growing areas.Both FAO and USDA are estimating the Philippines to
import 1.7 million tons of rice in 2015.
China Seeks to Enhance Grain Storage Capacity to 95% of Output by 2020
Jun 16, 2015
The
government of China is planning to enhance its grain storage capacity to about
95% of the total grain output by 2020 in order to ensure grain supply and
safety, according to Bloomberg.By the end of 2015, the government is seeking to
add 50 million tons of grain storage capacity to the existing capacity.
Currently, China has storage facilities that can hold about 106 million tons of
grains compared to the total annual out of around 607 million tons.
The
current warehouses were built in 1980 and are in a deteriorating condition.
Therefore the government is planning to upgrade these warehouses by the end of
2017.The government has recognized the need to improve its ability to respond
to emergencies, monitor its food quality, safety, reduce waste and set up
efficient grain information system.
Conab Estimates Brazil 2014-15 Paddy Rice Production to Increase 2% y/y to
12.399 Million Tons
Jun 16, 2015
Brazil’s
National Grains Supply Company (Conab) has forecasted the country's 2014-15
paddy rice production at around 12.544 million tons (around 8.53 million tons,
basis milled), up about 3.5% from around 12.121 million tons (around 8.24
million tons, basis milled) in 2013-14, and slightly up from its May forecast
of around 12.399 million tons.Conab has estimated Brazil's 2014-15 paddy rice
acreage at around 2.312 million hectares, down about 2.6% from around 2.373
million hectares in 2013-14. Paddy rice acreage in the key rice growing
Centro-Sul (Center-South) region is projected at 1.548 million hectares in 2014-15,
down about 1% from around 1.565 million hectares in 2013-14. Rice acreage in
the North/Northeast regions is estimated at around 763,800 hectares, down 6%
from around 808,400 hectares in 2013-14.
Average
rice yield in Brazil in 2014-15 is projected at around 5.425 tons per hectare,
up about 6% from around 5.108 tons per hectare recorded in the previous
year.USDA estimates Brazil MY 2015-16 (April – March) paddy rice production at
around 11.765 million tons (around 8 million tons, basis milled), down about 5%
from an estimated 12.397 million tons (around 8.43 million tons, basis milled)
in MY 2014-15. It estimates Brazil’s 2015-16 paddy rice acreage decline
slightly to around 2.3 million hectares. USDA estimates Brazil to export
around one million tons of rice and import around 550,000 tons of rice in 2015.
Brazil Paddy Rice Index Increases About 2% from Last Week
Jun 16, 2015
The
Brazilian paddy rice index maintained by CEPEA reached around 33.71 real per 50
kilograms as of June 15, 2015, up about 1.6% from around 33.18 real per 50
kilograms recorded on June 8, 2015.In terms of USD per ton, the index reached
around $217 per ton on June 15, 2015, up about 2% from around $213 per ton
recorded on June 8, 2015.
Global Rice Quotes
June 17th, 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
Government of India May Increase 2015-16 Paddy MSP This Week
Jun 16, 2015
The
Cabinet Committee on Economic Affairs (CCEA) may approve a proposal to raise
the minimum support price (MSP) of paddy for the 2015-16 kharif marketing
season, according to local sources.The CCEA is scheduled to meet on June 17 and
the proposal on MSP of kharif crops, including rice, is listed on the agenda
for discussion, the Agriculture Secretary was quoted as saying.
Based
on the recommendations by the Commission for Agricultural Costs and Prices
(CACP), the body that advises the government on the pricing policy for major
farm products, the Agriculture Ministry is reportedly considering to increase
the MSP of kharif crops.In April this year, the CACP has advised the government
of India to increase the minimum support price (MSP) for common grade paddy by
about 3.6% or about Rs.50 per quintal (about $8 per ton) for the 2015-16 (July
- June) crop season, according to local sources.Currently, the MSP for paddy is
Rs.1,360 per quintal (around $218 per ton) for common grade paddy and Rs. 1,400
per quintal (around $224 per ton) for Grade-A paddy.
Iraq Seeks to Purchase 30,000 Tons of Rice in International Tenders
Jun 16, 2015
Iraq has invited
international tenders to purchase about 30,000 tons of rice from the U.S.,
Uruguay, Argentina, Brazil and India, Bloomberg quoted a statement from the
Iraq's Trade Ministry.Last date for submitting bids is June 28, 2015 and offers
remain valid till July 2, 2015.
Indonesia Aims to Procure 2 Million Tons of Rice from Local Farmers During
Dry Season
Jun 16, 2015
The
government of Indonesia aims to procure 2 million tons of rice from local
farmers during the dry season (June - mid-December), Bloomberg quoted the
Secretary General at Agriculture Ministry.The government directed the state
logistics agency to procure the said amount of rice over the next two months,
according to the official. He told reporters that the government has identified
regions that are prone to suffer drought conditions during the dry
season. However, the government is expecting a normal dry season despite
fears of an impending El Nino.
The
Ministry official expressed confidence that the country would have sufficient
or surplus stocks during the months of October - December if production in dry
season is normal.The President of the state logistics agency Bulog noted that
the agency has 1.4 million tons of rice inventories currently. The government
has ruled out immediate import of rice given sufficient 
stocks. It
is likely to take a decision on rice imports after the Ramzan festive season in
July.The government had lowered the rice procurement target to 2.75 million
tons in the beginning of this month from the initially set 3.2 million tons due
to slow pace of procurement. The procurement had been slow despite an increase
in the government purchase price (Harga pokok penjualan, HPP) by about 10% to
around Rp7,260 per kilogram (around $577 per ton) from the existing Rp6,600 per
kilogram (around $524 per ton).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).
stocks. It
is likely to take a decision on rice imports after the Ramzan festive season in
July.The government had lowered the rice procurement target to 2.75 million
tons in the beginning of this month from the initially set 3.2 million tons due
to slow pace of procurement. The procurement had been slow despite an increase
in the government purchase price (Harga pokok penjualan, HPP) by about 10% to
around Rp7,260 per kilogram (around $577 per ton) from the existing Rp6,600 per
kilogram (around $524 per ton).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).
Oryza Afternoon Recap - Chicago Rough Rice Futures Continue to Edge Higher
but Market Lacks Fundamental Support
Jun 16, 2015
Chicago
rough rice futures for Jul delivery settled 2.5 cents per cwt (about $1 per
ton) higher at $9.800 per cwt (about $216 per ton). The other grains rallied for
the most part with wheat the only product to close in the red; Soybeans closed
about 2.1% higher at $9.5750 per bushel; wheat finished about 0.1% lower at
$4.8875 per bushel, and corn finished the day about 1.7% higher at $3.5400 per
bushel.U.S. stocks traded higher on Tuesday as the Federal Reserve began its
two-day meeting and investors attempted to shake off worries about the Greece
debt talks. The Federal Open Market Committee kicked off its meeting on
Tuesday. The real news of interest on monetary policy won't come until
Wednesday afternoon, when the Fed releases its statement and Yellen holds a
press conference. Consensus is for a rate hike in September.
The
Dow Jones industrial average gained more than 100 points as European stocks
also recovered from early losses to close mostly higher. Concerns about Greece
abated slightly after weighing heavily on stocks on Monday and index futures
Tuesday morning. The major averages shook off mild declines to attempt gains in
morning trade, with the Dow Jones industrial average recovering to trade in the
black for the year after closing in negative territory on Monday. The Greek
jitters weighed globally, with Asian shares closing broadly in the red.
European stocks recovered to close mostly higher while the Greek ATHEX
Composite ended more than 4.5% lower. The Dow Jones Industrial Average traded
up 104 points, or 0.60%, at 17,895. The S&P 500 traded 11 points, or 0.51%,
at 2,094, with consumer staples leading nine sectors higher and industrials the
only decliner. The Nasdaq traded up 26 points, or 0.51%, at 5,055. Gold is
trading about 0.4% lower` ,
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.Monday, there were 1,825
contracts traded, up from 979 contracts traded on Friday. Open interest – the
number of contracts outstanding – on Monday decreased by 556 contracts to
11,132.
Oryza Overnight Recap – Chicago Rough Rice Futures See Follow-through Buying
Following Yesterday’s Afternoon Rally
Jun 16, 2015
Chicago
rough rice futures for Jul delivery are currently seen trading 7.5 cent per cwt
(about $2 per ton) higher at $9.850 per cwt (about $217 per ton) during early
floor trading in Chicago. The other grains are seen trading higher;
soybeans are currently seen trading about 0.3% higher, wheat is listed about
0.3% higher and corn is currently noted about 0.1% higher.U.S. stocks traded
mildly higher on Tuesday as investors attempted to shake off concerns
about lack of resolution in Greece debt talks amid the Federal Reserve's
two-day meeting.
The
major averages shook off mild declines to attempt slight gains in morning
trade, with the Dow Jones industrial average recovering gains for the year.
Greek Prime Minister Alexis Tsipras on Monday blamed creditors for
the collapse of talks on unlocking aid for reforms at the weekend. The impasse
has raised concerns that Athens is heading for a debt default that could end
with it leaving the euro zone. A spokesman said Athens has submitted proposals
and is waiting for a response from lenders, Reuters said. Euro zone finance
ministers are next due to discuss the Greek crisis on Thursday—when
Tsipras has a planned visit to Russia. The Federal Open Market Committee begins
its highly-anticipated meeting on Tuesday.
The
real news of interest on monetary policy won't come
until Wednesday afternoon, when the Fed releases its statement and
Chair Janet Yellen holds a press conference. Consensus is for a rate hike in
September. U.S. stocks closed lower on Monday as concerns about
Greece's future took a toll ahead of the highly-anticipated Fed meeting. The
Dow Jones Industrial Average traded 53 points higher, or 0.32%, at 17,848. The
S&P 500 gained 6 points, or 0.27%, at 2,090, with consumer staples leading
nine sectors higher and utilities the only laggard. The Nasdaq traded up 12
points, or 0.23%, at 5,041. Gold is currently trading about 0.7% lower, crude
oil is seen trading about 0.6% higher, and the U.S. dollar is currently
trading about 0.2% higher at 9:00am Chicago time.
Thailand's Third Rice Auction
Receives Less Interest than First Two
Jun
16, 2015
Thailand's third auction for around 1.06 million tons of
rice this year has attracted less response compared to the first two, according
to local sources.While the first auction had 96 bidders, the second had 45
bidders, according to the Commerce Ministry's Foreign Trade Department.Forty
three bidders were qualified to bid in today’s auction, but only 40 bidders
submitted their bids in the auction for 1.06 million tons of rice. The
remaining three bidders reportedly backed out from the auction as they were
doubtful of the quality of the grain offered for sale.The Thai government
reportedly sold 840,000 tons of rice worth about 7.8 billion baht (around $232
million), according to Commerce Ministry sources.
The Thai military government
currently holds about 16 million tons of rice accumulated from the rice
pledging scheme introduced by the previous government. It had sold about 1.88
million tons of rice from six auctions raising around 25.58 billion baht
(around $785.2 million) since it seized power in May 2014. It also reportedly
sold one million tons of rice under government-to-government contracts. It aims
to sell about 10 million tons of stockpiled rice this year and about 7 million
tons next year.
According to a stock-audit report
released earlier this year, only about 2.35 million tons are of standard
quality, about 14.4 million tons are of sub-standard quality, around 694,000
tons of rice are rotten and the remaining 390,000 tons of rice are missing. The
Director-General of the Department of Foreign Trade (DG-DFT) confirmed that
only 2.6 million tons are fit for human consumption. The government is
considering to sell the remaining stocks to the industrial sector.Separately,
the farmers' associations are not happy with the government's call to delay
main wet season rice planting due to low rainfall and deteriorating water
levels in reservoirs. They are likely to defy the government's request and take
chances.
Oryza U.S. Rough Rice Recap -
Prices Seen Sideways as IGB Announces New Tender
Jun
16, 2015
The U.S. cash market was unchanged
again today despite news that the Iraqi Grain Board issued another tender to
buy at least 30,000 MT of long grain white rice which follows their last tender
in which no origin was awarded.The IGB is seeking to buy either U.S.,
Uruguayan, Argentine, Brazilian, or Indian origin and offers need to be
submitted no later than June 28th and must remain valid through July
2nd. Analysts note that if the U.S. is able to secure some of
this business it could turn the U.S. market around and cause buyers that
are hand to mouth to change their strategy and look for great coverage.
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