Liberia Extends Suspension of Tariffs on Rice Imports to Rein in Price
Hikes
Jun 29, 2015
The
government of Liberia has issued Executive Order No. 70 extending Executive
Order No. 61, which suspends tariffs on rice imports, according to a news
release on the government website.The order, issued by the President on June
28, states that: "the Government of Liberia in its desire to continue
bringing relief to the public, is extending Executive Order No. 61, suspending
the import tariff on rice as classified under tariff Nos. 1006.30.00 (in
packing of more than 5kg or in bulk); 1006.30.00 (in packing of at least 5kg);
and 1006.40.00 (broken rice) under the Revenue Code of Liberia Act 2000."
The Executive Order is said to be implemented with immediate effect.
The
news release says the extension of the Executive Order No. 61 is based on the
findings of a government assessment and evaluation of the causes of increases
in the prices of various strategic commodities. The government has recognized
the need to curb the continuous increases in the price of rice and make it
affordable to the public.
The
order also states that: "there exists a need for exigent measures to
achieve the desired objective of easing the economic burden on the people of
this country to enable access to the staple food, and such measures cannot
await long processes."The government earlier suspended tariffs on rice
imports through Executive Order Nos. 11, 19, 45 and 61 in the interest of
public
According
to latest data available with the FAO, in February this year, retail prices of
imported rice in the country's capital city stood at around 59,500 Liberian
Dollar per ton (around $701 per ton), up about 21% from their year-ago
levels.Liberia produces only one third of the rice needed for local consumption
and imports the rest. The FAO estimates Liberia to import around 350,000 tons
in 2015, while the USDA estimates the west African nation to import around
300,000 tons. Average annual consumption of the country is around 450,000 tons,
according to USDA.
Inadequate Infrastructure, Less Financing Options and Labor Migration
Undermining Cambodia's Rice Export Capability, Say Experts
Jun 29, 2015
Inadequate
milling and storage facilities; meagre financing options and consequent
bankruptcies among small farmers; as well as recent migration of a number of
male farmers to Thailand are all undermining Cambodia's capability to increase
its exports, local sources quoted experts as saying.They noted that above
factors are not allowing the country to achieve the one million tons export
this year. The country is not in a position to take advantage of the increasing
demand from China and the European Union due to these reasons. They added that
the Cambodian exporters are facing a stiff competition with Thailand and
Vietnam rice exporters in terms of pricing as they are in a position to lower
prices they have better techniques and skills as well as government support.
The
experts also said that currently, Cambodia's rice surplus is not so high to
increase exports. Therefore they are urging the government to help farmers to
increase production beyond the sufficiency needs in order to be able to boost
exports as well.A former Senior Adviser to the Cambodia Rice Federation (CRF)
noted that lesser financing options and high interest rates in the country have
forced many Cambodian farmers to flee to Thailand for jobs in attempt to avoid
paying arrears to micro finance institutions. 
They
say a silent crisis is going on in Cambodian rice fields, which is not in the
interest of the country. They warned that the country's rice sector cannot
thrive if the government follows a hands off "laissez faire
policy".Meanwhile this year's production is likely to be impacted by dry
weather conditions and low rainfall across the rice growing regions.Cambodia
exported about 243,025 tons of rice in the first five months of 2015 (January -
May 2015), up about 64% from about 148,262 tons rice exported in the same
period last year according to the Secretariat of One Window Service for Rice Export.
Cambodia has exported about 387,100 tons of rice in 2014.USDA estimates
Cambodia to export 1.1 million tons of rice (including official and unofficial
exports to Vietnam and Thailand through borders) in 2015, up about 10% from an
estimated 1 million tons in 2014.
India Average Wholesale Rice Prices Decline Sharply in June 2015
Jun 29, 2015
India
average wholesale rice prices declined sharply in June 2015 after continuously
increasing for three consecutive months from March to May. The decline can be
attributed to increasing supplies in the domestic market due to a declining
export demand.Planting for India's main/kharif rice crop (June – December),
which began last month, has been good enough throughout the month of June due
to above-average rains recorded in most of the rice-growing regions. However,
as of June 26, the total planted area at around 2.328 million hectares slightly
lagged by about 7% from last year.Average monthly wholesale rice prices in
India declined to around Rs.2,657.50 per quintal in June 2015, down about 8%
from around Rs.2,903.67 per quintal in May 2015, and down about 8% from their
year-ago levels of around Rs.2,901.95 per quintal.
In
terms of USD per ton, wholesale rice prices in India stand at around $419 per
ton (using current exchange rates) in June 2015, up about 8% from around $455
per ton (using historical exchange rates) in May 2015, and down about 13% from
around $483 per ton (using historical exchange rates) in June 2014.
India’s average prices are likely to increase if
India’s production is dampened by a moderate drought-inducing El Nino weather
pattern, which is expected to persist between July and September. Weather
bureaus in Australia and Japan are forecasting an intensifying El Nino weather
pattern, which is already causing dry conditions in South East Asian countries,
including Thailand, North Korea, Indonesia and the Philippines.
The
government of India is monitoring the impact of El Nino on monsoon rains in the
country, which have been so far unaffected by the phenomenon. USDA
estimates India's 2015-16 (October - September) production at around 104
million tons, up about 1.5% from an estimated 102.5 million tons in 2014-15. It
estimates India's 2015 rice exports at around 10.2 million tons, slightly up from
an estimated 10.15 million tons in 2014.
India Basmati Rice Growers Advised to Plant Pusa 1509 After July 15 to
Avoid Breakage
Jun 29, 2015
Farmers
in India's two main basmati rice growing states Punjab and Haryana have been
advised to plant Pusa basmati 1509 variety after July 15 to avoid
incidence of breakage, according to local sources.Government officials noted
that since transplanting of basmati 1509 seeds before July 15 is said to lead
to a high incidence of broken content and moisture content during milling, the
two state governments are carrying out a campaign to educate farmers about the
ill-effects of early transplanting the seeds. Rice exporters have been
complaining of low or no acceptability in the export market if there is higher content
of brokens and moisture in the seeds.
One
of the leading basmati rice exporters that they had faced huge losses during
the last season due to this reason. "We want that crop should be sown
after July 15, which should be ready by October," he was quoted as
saying.Basmati 1509, which has been developed by the Indian Agricultural
Research Institute (IARI), is popular among the farmers of both Punjab and
Haryana for its high yield and short duration.The IARI Principal Scientist
said: "We have always been saying that transplantation of 1509 variety
should start from July 20 onwards and it can be transplanted till August 10.
Then it will have good aroma and will have no broken rice issue."
About
300,000 hectares in Punjab and about 250,000 hectares in Haryana were used to
plant basmati 1509 variety last year.Total basmati area in Punjab is about
800,000 hectares and 600,000 hectares in Punjab and Haryana respectively.
Punjab and Haryana have targeted 2.65 million hectares and 1.2 million
hectares under paddy for current Kharif season.
Global Rice
Quotes
June
29th, 2015
Long
grain white rice - high quality
Thailand
100% B grade 375-385 ↔
Vietnam
5% broken 350-360 ↑
India
5% broken 385-395 ↔
Pakistan
5% broken 375-385 ↔
Myanmar
5% broken 415-425 ↔
Cambodia
5% broken NQ ↔
U.S.
4% broken 450-460 ↔
Uruguay
5% broken 565-575 ↔
Argentina
5% broken 555-565 ↔
Long
grain white rice - low quality
Thailand
25% broken 345-355 ↔
Vietnam
25% broken 330-340 ↑
Pakistan
25% broken 335-345 ↔
Cambodia
25% broken NQ ↔
India
25% broken 350-360 ↔
U.S.
15% broken 440-450 ↔
Long
grain parboiled rice
Thailand
parboiled 100% stxd 365-375 ↔
Pakistan
parboiled 5% broken stxd 395-405 ↔
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% 815-825 ↔
Vietnam
Jasmine 475-485 ↓
India
basmati 2% broken NQ ↔
Pakistan
basmati 2% broken NQ ↔
Cambodia
Phka Mails NQ ↔
Brokens
Thailand
A1 Super 315-325 ↔
Vietnam
100% broken 310-320 ↔
Pakistan
100% broken stxd 290-300 ↓
Cambodia
A1 Super NQ ↔
India
100% broken stxd 280-290 ↔
Egypt
medium grain brokens NQ ↔
U.S.
pet food 350-360 ↔
Brazil
half grain NQ ↔
All
prices USD per ton, FOB vessel, oryza.com
Myanmar to Boost Aromatic Rice Exports to Singapore, U.S.
Jun 29, 2015
Myanmar
is planning to increase aromatic rice exports to Singapore and the U.S., Xinhua
News Agency quoted sources from the Myanmar Rice Federation (MRF).The country
produces both short and long-term aromatic rice varieties, according to the
MRF. It produces two types of fragrant rice - Lone Thwal Hmwe and Paw San.The
country is particularly planning to increase exports of the aromatic rice
variety Paw San, which is grown in limited quantities in the regions of
Ayeyawady Delta, Bago and some parts of Sagaing Regions in monsoon, said the
MRF sources. Last year, Myanmar exported 20 tons of Paw San rice to the U.S.
In June, a
delegation from the European Union (EU) visited Myanmar to discuss the
country's ability to export fragrant rice to the EU in the mid- to long-term.
The General Secretary of the MRF reportedly told the delegation that Myanmar
can grow both short and long grain aromatic rice through the contract farming
system and can meet the EU demand. The MRF Vice-Chairman told local
sources that aromatic rice farmers should be encouraged to increase production
of Paw San in the light of increased export demand.
He
noted that farmers usually don't show interest in exporting Paw San as it
fetches a good price locally itself. The export price of Paw San is currently
in the range of $900 per ton.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), which it launched earlier this year.
Laos Rice Production May Decline Due to Dry Weather in Upland Areas, Flash Floods
in North-East
Jun 29, 2015
Laos
rice production is likely to decline this year due to two simultaneous and
contradicting weather patterns in the country, Xinhua News Agency quoted the
state run Vientiane Times.Dry weather conditions and less rainfall are
disrupting planting preparations in the country's upland areas. Many farmers
are understood to have postponed their planting operations with hope of
receiving rains soon. If this situation persists, rice output may decline
thereby pushing up local prices.On the other hand, unprecedented flash floods
in the country's north-east Huaphan province due to heavy rains last week are
understood to have damaged several hectares of paddy fields.
In
the prior week a grasshopper plague reportedly affected crops in the northern
province of Luang Prabang.Considering the present weather conditions, the
country's paddy production is expected to fall below estimated 4.2 million
tons, according to local sources. The unforeseen development is likely to spoil
plans of Laos to increase rice production and begin exports this year.The UN's
FAO estimates Laos 2015 paddy rice production to increase about 3% y/y to
around 3.4 million tons. USDA estimates Laos 2015 paddy production to decline
about 4% y/y to around 2.5 million tons in 2015.
Thai Government Encourages Farmers to Purchase Main Rice-Crop Insurance to
Contain Drought-Related Losses
Jun 29, 2015
The
government of Thailand is encouraging farmers to buy main rice-crop insurance
to reduce losses from harvest failure caused by natural disasters, according to
local sources.Especially in the light of ongoing drought conditions, the
government has announced that it would subsidize the farmers' premiums up to
80%. Last year farmers in around 112,000 hectares purchased main rice-crop
insurance. This year, the government is expecting around 240,000 hectares to be
insured this year. About seven insurers are offering main rice-crop
insurance through the Bank for Agriculture and Agricultural Cooperatives (BAAC)
between May 6 - August 14, 2015, according to the President of the Thai General
Insurance Association (TGIA).
He
noted that the IGIA would request the National Catastrophe Insurance Fund to
reinsure some main rice-crop insurance to support local insurers and encourage
more farmers to insure their crops.Separately, the BAAC announced that it would
suspend interest and principal payments for drought-hit farmers.In this
backdrop, the honorary president of the Thai Rice Exporters Association (TREA)
told local sources that rice prices, which have been declining for the last few
months are likely to increase due to drought.
He
noted that the production levels in India and China would mainly dictate rise
in global rice prices. The trend would be evident by August, when they start
harvesting their crops.As for Thai rice, he said increased demand for parboiled
rice from Nigeria and Benin prompted higher exported in May. He also noted that
winning the upcoming 250,000 rice import tender by the Philippines is important
for Thailand. The Philippines is yet to announce the timing of the
tender.Meanwhile, the Commerce Ministry is planning to meet with rice
exporters, millers and traders to discuss about the falling domestic rice
prices.
Oryza Afternoon Recap - Chicago Rough Rice Futures Tumble as Market Lacks
Buying Interest as Market Eyes Large Carryover; Wheat Continues to Add Weather
Premium
Jun 29, 2015
Chicago
rough rice futures for Sep delivery settled 16 cent per cwt (about $4 per ton)
lower at $10.085 per cwt (about $222 per ton). The other grains finished the
day with mixed results with the only component to make a distinct move being
wheat, which continues to add to recent gains; Soybeans closed about 0.6% lower
at $9.8000 per bushel; wheat finished about 2.7% higher at $5.8350 per bushel,
and corn finished the day about 0.1% higher at $4.0225 per bushel.U.S. stocks
fell more than 1.5% on Monday, following a decline in global markets on the
escalating Greece debt crisis. S&P downgraded Greece to "CCC-"
and said in a Reuters report that the probability of the country exiting the
euro zone is now about 50%. Earlier, a Greek official told Reuters in midday
trade ET that the country will not pay its loan due to the International
Monetary Fund on Tuesday.
In
addition to capital controls in Greece, Puerto Rico's governor said the
commonwealth cannot pay its debt of about $72 billion. Mainland Chinese markets
entered bear market territory, with the Shanghai Composite closing 3.3% lower
on Monday despite initial attempts at gains following the central bank's rate
cut over the weekend. Concerns over Greece hit global markets hard, with stocks
in France and Germany closing more than 3% lower. Asian stocks also fell
overnight, with Japan's Nikkei off 2.9%. The Dow Jones Industrial Average
traded down 236 points, or 1.32%, at 17,709. The Dow transports traded more
than 1% lower. The S&P 500 traded down 29 points, or 1.38%, at 2,072, with
financials leading nine sectors lower and utilities the only advancer. The
Nasdaq traded down 79 points, or 1.55%, at 5,001. Gold is trading about 0.5%
higher, crude oil is seen trading about 2.2% lower, and the U.S. dollar is seen
trading at about 0.7% lower at about 1:00pm Chicago time.Friday, there
were 2,198 contracts traded, up from 1,703 contracts traded on Thursday. Open
interest – the number of contracts outstanding – on Friday decreased by 222
contracts to 9,711.
Thai Supreme Court Begins Trial Against 21 Individuals in G2G Rice Case; 19
Plead Innocence
Jun 29, 2015
The Criminal
Division for Holders of Political Officers of Thailand's Supreme Court has
begun trial against 21 individuals, including the former Commerce Minister and
the former Deputy Commerce Minister, former Director-General of the Department
of Foreign Trade, three civil servants and 15 others, for their alleged
corruption in government-to-government (G2G) rice deals with two Chinese
companies, according to local sources.The Office of the Attorney-General (OAG)
filed the charges against the 21 individuals based on the advice of the
National Anti-Corruption Commission (NACC), which assured that there was
adequate evidence to bring the case to trial.The NACC earlier noted that the
accused 21 persons apparently helped two Chinese companies, which were
reportedly not authorized by the Chinese government, to seal G2G contracts for
about 1.2 million tons of rice with the Thai government without participating
in a bid. They are said to have violated the Criminal Code, the Public
Competitive Bidding Act and the Anti-Corruption Act.If found guilty, the 21
individuals, including the former Commerce Minister, may face life
imprisonments as well as a fine of up to 35.2 billion baht (around $1.1
million).
The
Supreme Court had granted bail to the former Commerce Minister in the present
case at 20 million baht (around $593,190) and barred him from leaving the
country without its permission.Former Commerce Minister and 18 other accused
have reportedly pleaded innocence in the G2G rice case. They have been allowed
to submit a written tesimony to the court by August 31 and the Court is to
examine the evidences on September 29, 2015.
Rice During January 1 – June 25, 2015
Jun 29, 2015
Vietnam
exported about 2.45 million tons of rice in January 1 - June 25, 2015, down
about 19% 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 $419 per ton (FOB), down about 3% per
ton from about $431 per ton recorded during same last year.
During
June 1-25, 2015, Vietnam exported about 368,547 tons of rice, down about 45%
from about 671,174 tons rice exported in full month of June 2014, and down
about 30% from about 525,742 tons rice exported in full month of May 2015.
Average export prices in so far in June stands at about $412 per ton, down
about 3% per ton from a year and a month ago.
Thailand Expects Greater Interest for Fourth Rice Auction in First Week of
July 2015
Jun 29, 2015
The government of
Thailand is expecting a greater interest from private bidders for the fourth
rice auction that has been planned on July 7, according to local sources.The
Deputy Director-General of the Foreign Trade Department told local sources that
they are expecting a good response in the fourth auction based on the sales in
the third auction, in which the Ministry auctioned about 1.06 million tons of
rice and sold about 840,000 tons (about 80% of auctioned rice).
“Demand
in the rice markets remains high. So the auction comes at the right time and it
seems to have no negative impact on the whole rice market," she was quoted
as saying.The Commerce Ministry is putting up around 1.39 million tons of rice
consisting of 14 types of rice from 156 government stockpiles, 107 warehouses
under the Public Warehouse Organization (PWO) and 49 Marketing Organization for
Farmers warehouses in 32 provinces across the country.The Commerce Ministry
sold about 2.94 million tons of rice in the first seven auctions since it took
power, raising about 30.2 billion baht (around $894 million).The Thai military government
currently holds over 16 million tons of rice in its warehouses and is planning
to sell about 10 million tons this year about six million tons next year.
Vietnam Rice Quotes Mixed Today;
India, Pakistan Rice Sellers Lower Some of Their Quotes
Jun 29, 2015
Vietnam
rice sellers increased their quotes for 5% broken rice and 25% broken rice by
about $5 per ton each to around $350-$360 per ton and $330 - $340 per ton
respectively; and lowered their quotes for Jasmine rice by about $5 per ton to
around $475-$485 per ton today. India rice sellers lowered their quotes for
parboiled rice by about $5 per ton to around $360-$370 per ton. Pakistan rice
sellers lowered their quotes for 100% broken rice by about $5 per ton to around
$290-$300 per ton today. Thailand rice sellers kept their quotes mostly
unchanged today.
5% Broken Rice
Thailand
5% rice is indicated at around $365 - $375 per ton, about a $15 per ton premium
on Vietnam 5% rice shown at around $350 - $360 per ton, up about a $5 per ton
from Friday. India 5% rice is indicated at around $385 - $395 per ton, about
$10 per ton premium on Pakistan 5% rice shown at around $375 - $385 per ton.
25% Broken Rice
Thailand
25% rice is shown at around $345 - $350 per ton, about a $15 per ton premium on
Vietnam 25% rice shown at around $330- $340 per ton, up about a $5 per ton from
Friday. India 25% rice is indicated at around $350 - $360, about $15 per ton
premium on Pakistan 25% rice shown at around $335 - $345 per ton.
Parboiled Rice
Thailand
parboiled rice is indicated at around $365 - $375 per ton. India parboiled rice
is indicated at around $360 - $370 per ton, down about a $5 per ton from Friday
and about a $35 per ton discount to Pakistan parboiled rice shown at around
$395 - $405 per ton.
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.
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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