NFA
Collaborates with IRRI to Improve Rice Quality in Philippines
Jun 05, 2015
The Philippines National Food
Authority (NFA) has collaborated with the International Rice Research Institute
(IRRI) to promote and accelerate research in rice and rice-based farming
systems as part of efforts to enhance rice quality in the country, according to
a news release on the IRRI website.Improvement in rice quality includes
enhancement in rice farming technologies and practices that help ensure
sustainable agriculture, improved farmer welfare, grain quality, and dietary
practices that support improved nutrition and health among consumers, according
to the news release.
Both the institutes have signed a
Memorandum of Understanding (MOU) today highlighting their collaboration in
grain quality improvement; rice breeding, production, and processing
(post-harvest) technologies; and the establishment of quality standards in line
with global requirements. Both the NFA and the IRRI will share scientific
data and research results as well as strategic analysis of developments and
trend in global rice trade, according to the MOU. The will also work together
to ensure benefits to all the rice stakeholders in the country."Through
this agreement, the NFA hopes to maximize IRRI's research in achieving our food
security mission of providing the country’s rice requirements in terms of
volume and quality. This will also guide us in our decision-making, not only in
our operational activities but also in our policy-formulation, in anticipation
of future developments such as infrastructure build-up," said the NFA
Administrator."We are happy to share technologies, some partly developed
through work funded by the Department of Agriculture on grain quality and
forecasting, with NFA," added the IRRI Deputy Director General
Myanmar to Begin First Legal Rice Shipment to China Soon
Jun 05, 2015
Myanmar
is likely to begin legal rice exports to China shortly, according to local
sources. The Myanmar Agribusiness Public Company Limited (MAPCO) has agreed to
ship about
3,000 tons of rice according to the the recently signed Memorandum of Understanding (MOU) between the Myanmar Rice Federation (MRF) and China's state-owned China National Cereals, Oils and Foodstuffs Corporation (COFCO) to export 100,000 tons of rice this year, local sources quoted the MRF.
3,000 tons of rice according to the the recently signed Memorandum of Understanding (MOU) between the Myanmar Rice Federation (MRF) and China's state-owned China National Cereals, Oils and Foodstuffs Corporation (COFCO) to export 100,000 tons of rice this year, local sources quoted the MRF.
Though
the MRF shortlisted about nine companies to export rice under the MOU, MAPCO
was the first to take up the export responsibilities, according to local
sources. It has apparently invited companies to invest in their operation to
the extent of 10 million Kyat (around $9,043) per company. “MAPCO will
coordinate to buy and sell the rice with these investments and will provide
transparent financial documents. The cost per share will be changed according
to demand,” said the Treasurer of the MRF.According to the MOU, the Chinese
authorities are demanding rice that is grown systematically, as well as stored
systematically and hygienically. The China Certification & Inspection Group
(CCIC) was supposed to examine the rice slated for export between May 22 and
June 1 this year as per the MOU.
Cross-border
rice exports to China are reportedly very rampant. Around 1.1 million tons of
rice have been exported in the first nine months of 2014-15, of which 800,000
tons comprise of exports to China through the borders. The Myanmar government
is targeting to export around 2.5 million tons of rice in FY 2015-16 (April -
March), up about 67% from an estimated 1.5 million tons in FY 2014-15.USDA
estimates Myanmar to produce 20 million tons of paddy rice (around 12.8 million
tons, milled basis) and export around 2 million tons of rice in MY 2015-16
(January - December 2015).
Oryza Afternoon Recap - Chicago Rough Rice Futures Slide but Remain Nearly
30 cents Higher on the Week; Wheat Erases Early Gain to Close in the Red
Jun 05, 2015
Chicago
rough rice futures for Jul delivery settled 12 cents per cwt (about $3 per ton)
lower at $9.805 per cwt (about $216 per ton). The other grains finished the day
lower; Soybeans closed about 0.9% lower at $9.3775 per bushel; wheat finished
about 1.3% lower at $5.1700 per bushel, and corn finished the day about 0.8%
lower at $3.6050 per bushel.U.S. stocks traded narrowly mixed on Friday as
investors eyed developments in Greece and weighed a bond yield rally on a
strong jobs report, which supports the case for a rate hike this year. In an
early afternoon speech, New York Fed President William Dudley said the second
quarter rebound is relatively muted but that a Federal Reserve interest rate
hike seems appropriate later this year. He added that market turbulence is
likely once a rate hike begins. Traders also eyed new headlines out of Greece.
After
the local market close, Greece Prime Minister Alexis Tsipras said Greece
offered a realistic proposal that is in line with creditors' needs. He added
that the country needs a deal that puts an end to "Grexit" talk and
that doesn't combine austerity with debt relief. European stocks closed lower
after the strong U.S. jobs report. Investors also weighed continued concerns
about Greece, which delayed a debt payment to the IMF originally due Friday.
The ATHEX Composite fell nearly 5%. Earlier, optimism about U.S. economic
growth mostly outweighed concerns about tightening as stocks attempted gains
after opening in the red. The Nasdaq outperformed, while the Dow Jones
industrial average and S&P 500 struggled to stay in positive territory. The
Dow Jones Industrial Average traded down 30 points, or 0.17%, at 17,876. The
S&P 500 traded down half a point, or 0.03%, at 2,095, with telecommunications
leading seven sectors lower and energy leading advancers.
The
Nasdaq traded up 4 points, or 0.09%, at 5,063. Gold is trading about 0.6%
lower, crude oil is seen trading about 0.3% higher, and the U.S. dollar is seen
trading about 0.9% higer at about 1:00pm Chicago time.Thursday, there
were 444 contracts traded, down from 707 contracts traded on Wednesday. Open
interest – the number of contracts outstanding – on Thursday decreased by 54
contracts to 11,901.
India 2015-16 Main Paddy Rice Sowing Continues to Pick Up Amid El Nino
Fears
Jun 05, 2015
Planting
for India 2015-16 Kharif (main) rice crop (June - December) which began on May
8, 2015 is picking up fast and stands at around 346,000 hectares as of June 5,
2015; up about 13% from around 305,000 hectares planted during the same period
last year, according to preliminary data released by the Indian Agriculture
Ministry.
Though
the start has been slow due to untimely timely rains in some rice growing
regions, planting process has picked up quite fast according to data from the
Agriculture Ministry. A likely drought-inducing El Nino this year is
expected to lower production prospects this year. In its second forecast for
2015, the India Meteorological Department (IMD) has its estimate for this
year's monsoon rains to 88% of normal, from a previous estimate of 93% due to
reports of a strengthening El Nino. It is expecting rainfall to be 85% of the
normal in the states of Haryana, Punjab, Rajasthan and Uttar Pradesh.
The
IMD expects the El Nino pattern to reach to moderate to a strong one during the
monsoon season. The government of India, in its third advance estimates
for major crops, has estimated India's rice production for 2014-15 marketing
year (October 2014 - September 2015) at around 102.54 million tons, down about
4% from an estimated 106.65 million tons in 2013-14, according to a statement
from the agriculture Ministry.The total Kharif crop sown area stands at 6.127
million hectares as on June 5, 2015, down about 5% from around 6.475 million
hectares during the same period last year, according to the Agriculture
Ministry.
Oryza Overnight Recap – Chicago Rough Rice Futures Continue Upward Momentum
Despite Slip in Grain Prices Overnight
Jun 05, 2015
Chicago
rough rice futures for Jul delivery are currently seen paused 6.5 cents per cwt
(about $1 per ton) higher at $9.990 per cwt (about $220 per ton) ahead of floor
trading in Chicago. The other grains are seen trading lower; soybeans are
currently seen trading about 0.2% lower, wheat is listed about 0.6% lower and
corn is currently noted about 0.6% lower.U.S. stock futures traded
lower on Friday following a far better-than-expected nonfarm payrolls
report. Dow futures traded about 50 points lower, slightly off from the
30-point level prior to the data release.
U.S.
nonfarm payrolls totaled 280,000 in May with unemployment at 5.5%. Average
hourly earnings increased by 8 cents, beating expectations. The labor force
participation rate gained to 62.9%.Analysts polled by Reuters forecast the U.S.
economy created 225,000 new jobs last month, compared with 223,000 in April.
The unemployment rate was expected to stay unchanged at 5.4%. Most economic
data has showed modest economic growth. U.S. stocks closed lower on
Thursday as volatility in bond markets and a lack of resolution on Greece
kept investors on edge ahead ofFriday's jobs report. In Europe, share
markets were broadly lower on Friday after Greece delayed a debt
payment to the IMF and caution prevailed ahead of the U.S. jobs data. Gold is
currently trading about 0.6% lower, crude oil is seen trading about 0.5%
lower, and the U.S. dollar is currently trading about 1.2% higher
at 8:15am Chicago time
Thailand Plans to Revise Rice Field Rent Act
Jun 05, 2015
The
government of Thailand is planning to revise the rice field rent Act
(Agricultural Land Rent Act B.E. 2524) to provide justice in land rent for land
lords and tenants, according to local sources.The Prime Minister reportedly
instructed the Office of the Council of State, the Ministry of Interior and the
Ministry of Agriculture and Cooperatives to complete the revising of the Act
within three months. The Permanent Secretary for Agriculture and
Cooperatives told local sources that currently there are around 1.08 million
households, which represents nearly 41% of the total rice field tenants in the
country, do not have formal legal contracts with their landlords. Therefore the
amended law will aim to ensure all the rice field tenants and landlords are
included in the system with proper legal documents, he said.The new law is also
expected to prohibit an annual rent of agricultural land and require landlords
to first right to buy their properties to tenants if they want to sell
them. The proposal is understood to be part of the military government's
efforts to raise income and standard of living of the rice farmers in the
country.
Vietnam Wins Philippines Rice Import Tender; To Supply 150,000 Tons of Rice
at $410.12 per Ton
Jun 05, 2015
Vietnam has
won the Philippines rice import tender today to supply 150,000 tons of
rice at $410.12 per ton, according to Reuters.The Philippines National Food
Authority (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. While, Vietnam and Thailand
both bid to supply 150,000 tons of rice at $419.35 per ton and 100,000
tons of rice at $419 per respectively, the NFA rejected both the bids as they
were higher than its reference rate and allowed them to rebid.
Vietnam
agreed to lower its bid to $410.12 in line with NFA's referenceprice, but
Thailand backed out since it felt the NFA's reference price was
very low.Earlier this year, the Philippines imported 300,000 tons of rice
from Vietnam and 200,000 tons from Thailand. The NFA is authorized to
import another 350,000 tons of rice, including 100,000 tons not allocated in
today's tender and 250,000 tons in case the El Nino pattern intensifies
impacting the harvest.
The
Philippines can also import 805,000 tons of rice at 35% under the
renewed WTO minimum access volume (MAV), including 755,000 tons in the
country-specific- quota (CSQ) and 50,000 tons in the omnibus quota, in the third quarter.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. The demand from the Philippines is expected to support continuously falling rice export prices in Asia. Export prices of Thai 5% broken rice, Vietnam 5% broken rice and India 5% broken rice currently stand at around $365 per ton, $355 per ton and $380 per ton respectively compared to $410 per ton, $380 per ton and $390 per ton respectively at the beginning of the year.
country-specific- quota (CSQ) and 50,000 tons in the omnibus quota, in the third quarter.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. The demand from the Philippines is expected to support continuously falling rice export prices in Asia. Export prices of Thai 5% broken rice, Vietnam 5% broken rice and India 5% broken rice currently stand at around $365 per ton, $355 per ton and $380 per ton respectively compared to $410 per ton, $380 per ton and $390 per ton respectively at the beginning of the year.
Thailand Plans to Sell Bulk of Stockpiled Rice to Industrial Sector; Global
Rice Prices Expected to Surge
Jun 05, 2015
The
government of Thailand is planning to sell a bulk of its stockpiled rice to
animal feed and ethanol producers as it is found unfit for human consumption, a
move that could reduce global rice stocks and push up rice prices, according to
Bloomberg.The Deputy Prime Minister told reporters that the authorities would
decide in about a month on the disposal process of nearly 13 million tons of
sub-standard rice stocks. He noted that they considering various options such
as selling the poor quality grains to animal feed and ethanol producers or sort
the grains into different grades and sell accordingly.
However,
the Director-General of the Department of Foreign Trade (DG-DFT) noted that
sell to the industrial sector seems to be a better option as grading the rice
is turning out to be quite costly. 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
DG-DFT also confirmed that only 2.6 million tons of rice are fir for human
consumption.The decision is expected to reduce the global rice stocks
condsiderably amid the fears of an impending El Nino, which is expected to
reduce rice output in Asian countries, such as India, Philippines, Indonesia
and Thailand. Currently, Thailand's rice stocks are said to account for 37% of
the global rice trade. Analysts say the decision is sending some bullish
signals in the global rice market and prices may increase over $500 per ton,
even crossing the highest prices reached in August 2013.
Export
prices of Thai 5% broken rice, Vietnam 5% broken rice and India 5% broken rice
declined to around $365 per ton, $355 per ton and $380 per ton respectively
from around $410 per ton, $380 per ton and $390 per ton at the beginning of the
year. In the beginning of this year, the Finance Permanent Secretary told
local sources that losses from rice subsidy/pledging schemes between 2004 and
2014 are estimated to cross the earlier estimations of around $682 billion baht
(around $21 billion) if depreciation and missing rice stocks are also
considered.
Pakistan Rice Sellers Increase
Some of Their Quotes; Other Asia Rice Quotes Unchanged Today
Jun 05, 2015
Pakistan rice sellers increased their quotes for 5% broken rice by about $5
per ton to around $395 - $405 per ton today. Other Asia rice sellers kept their
quotes mostly unchanged.
5% Broken Rice
Thailand 5% rice is indicated at around $360 - $370 per ton, about a $10
per ton premium on Vietnam 5% rice shown at around $350 - $360 per ton.
India 5% rice is indicated at around $375 - $385 per ton, about a $20 per ton
discount to Pakistan 5% rice shown at around $395 - $405 per ton, up about a $5
per ton from yesterday.
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 $10 per ton premium on Pakistan
25% rice shown at around $350 - $360 per ton.
Parboiled Rice
Thailand parboiled rice is indicated at around $365 - $375 per ton. India
parboiled rice is indicated at around $355 - $365 per ton, about a $55 per ton
discount to Pakistan parboiled rice shown at around $410 - $420 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 $280 - $290 per ton, about
a $15 per ton discount to Pakistan broken sortexed rice shown at around
$295 - $305 per ton.
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