Oryza U.S. Rough Rice Recap - Prices Hold Steady as Focus Shifts to Next Week's
Acreage Report
Jun 22, 2015
The
U.S. cash market was seen steady again today as buyers and sellers continue to
stand off on prices. Analysts note that sellers are holding out hoping for a
bullish acreage report next week while buyers insist that any reduction to the
production figures will still not likely be enough to significantly reduce next
years ending stocks unless export demand picks up considerably.
In
the meantime, the USDA estimates that as of June 21st, that 6%
of the crop has headed which was 3% ahead of this time last year and 1% ahead
of the previous 5-year average. As of now, the USDA estimates that 0% of the
rice crop in Arkansas has headed compared to , 10% in California, 22% in
Louisiana, 11% in Mississippi, 0% in Missouri, and 2% in Texas.
The
USDA estimates that 68% percent of the crop in good to excellent condition,
which was down 1% from last week and on par with this time last year. As of
now, the USDA estimates that 67% of the crop in Arkansas is in good to
excellent condition compared to, 85% in California, 67% in Louisiana, 73% in
Mississippi, 54% in Missouri, and 49% in Texas.
Government of Thailand Will Release Only Good Quality Rice for Human,
Animal Consumption, Says Commerce Ministry
Jun 22, 2015
Responding
to reports of the Thai government's plans to sell poor quality rice from the
government stocks to animal feed industry and ethanol manufacturers, the
Ministry of Commerce has clarified that it will not sell low quality rice for
domestic consumption, according to local sources.The Director General (DG) of
the Department of International trade Promotion (DITP) told local sources that
Ministry will sell low quality rice to industries that do not produce human or
animal food. It noted that the amount of rice released would be decided
depending on the supplies of rice received from the main crop harvest. It also
assured the market that the release of rice stocks would not impact the market
price.
Earlier
this month, the DG-Department of Foreign Trade confirmed that only 2.6 million
tons are fit for human consumption.The Thai military government currently holds
over 16 million tons of rice in its warehouses. The Commerce Ministry, which
sold about 1.96 million tons of rice in seven auctions since it took over in
May 2014, plans to sell around 10 million tons this year and about six million
tons next year.
Government of Indonesia Seeks to Redesign "Rice-for-the-poor"
Program
Jun 22, 2015
Indonesia's
Corruption Eradication Commission (KPK) has recommended the government to
redesign its rice-for-the-poor (Raskin) program after finding irregularities in
the implementation of the program, according to local sources.The President
today discussed about the reorganization of the Raskin program for 2016 with a
team of Cabinet members today. He instructed relevant authorities to
take necessary steps to improve and rectify the list of receipients under the
Raskin program to ensure the real needy people take advantage of the scheme. He
noted that irregularities have arisen due to geographical conditions. The
problem should be addressed, he said.
Yesterday,
the Social Affairs Minister told local sources that based on the KPK
recommendations, the government would redesign its Raskin program and confirmed
and ruled out the possibility of discontinuing the program. She ruled out
reports that the KPK's recommendations followed indications of corruption in
the Raskin program and noted that the irregularities were mostly related to the
amount and quality of rice distribution.According to the Minister, the government
allocated about Rp 18.9 trillion (around $1.4 billion) for the 2015 Raskin
program. Currently, the Social Affairs Ministry looks after the budgetary
allocations for the program and the state logistics agency Bulog takes care of
the distribution through local administrators.For 2016 Raskin program the
government is planning to spread the budgeted allocations more evenly among all
the local administrators and ensure the rice is distributed to targeted
beneficiaries in adequate amounts and in timely manner.
Nigerian Rice Farmers Seek Liberal Credit Facilities to Boost Production
Jun 22, 2015
Rice
farmers associations in Nigeria have requested the Federal government to relax
the rules related to accessing credit in order to boost rice production and
ensure food security in the country, according to local sources.A former
official from the All Farmers Association of Nigeria (AFAN) told local sources
that though funds are available to provide lending facilities to farmers,
stringent rules have not been allowing farmers to benefit out of them. He noted
that access to agricultural inputs such as high-yielding and quality rice
seeds, fertilizers and herbicides have become too expensive in Nigeria and
therefore high investment is needed to carry out rice farming in the country.
He
noted that lack of easy access to credit facilities, especially rural farmers,
is forbidding agricultural development in the country. Suggesting some means to
address the issue, he said: “liberal terms to cooperative groups may help to
address the challenge of funds and access to input may be tied to repayment
with harvest.”The Director of the Federal Ministry of Agriculture in the
Bayelsa state noted that the commercial banks need to take an initiative and
promote easy financing schemes to support farmers. They need to be particularly
considerate in setting simpler collateral requirements, he said.“Credible
platform should be created for easy access to credit facilities to encourage
farmers because collateral is not helping matters," added the Chairman of
the Rice Farmers Association of Nigeria (RIFAN) in the state.Nigeria produced
around 2.9 million tons in 2014, about 52% higher than around 1.9 million tons
produced in 2013, according to the Agriculture Ministry. USDA estimates Nigeria
to produce around 2.835 million tons of rice and import around 4 million tons
of rice in MY 2014-15 (October – September) to meet a consumption demand of
around 6.4 million tons.
Asia Rice Quotes Mixed Today
Jun 22, 2015
Thailand rice
sellers increased their quotes for 5% broken rice, 25% broken rice and
Parboiled rice by about $5 per ton each and lowered their quotes for
Hommali rice by about $25 per ton today. Vietnam rice sellers increased most
their quotes by about $5-10 per ton today. India rice sellers increased their
quotes for 5% broken rice and parboiled rice by about $20 per ton and $5 per ton
respectively. Pakistan rice sellers increased their quotes for 5% broken rice
by about $10 per ton and lowered their quotes for 25% broken rice, 100% broken
rice and parboiled rice by about $5 per ton each.
5% Broken Rice
Thailand 5% rice is
indicated at around $365 - $375 per ton, up about $5 per ton from Friday and
about a $15 per ton premium on Vietnam 5% rice shown at around $350 - $360
per ton, up about $5 per ton from Friday. India 5% rice is indicated at around
$385 - $395 per ton, up about $10 per ton from Friday and on par with Pakistan
5% rice shown at around $385 - $395 per ton, up about $10 per ton from Friday.
25% Broken Rice
Thailand 25% rice is
shown at around $345 - $3505 per ton, up about $5 per ton from Friday and
about $15 per ton premium on Vietnam 25% rice shown at around $330- $340 per
ton, up about $5 per ton from Friday. India 25% rice is indicated at around
$350 - $360, about $10 per ton premium on Pakistan 25% rice shown at around
$340 - $350per ton, down about $5 per ton from Friday.
Parboiled Rice
Thailand parboiled
rice is indicated at around $365 - $375 per ton, up about $5 per ton from
Friday. India parboiled rice is indicated at around $365 - $375 per ton, up
about $5 per ton from Friday and about $30 per ton discount to Pakistan
parboiled rice shown at around $395 - $405 per ton, down about $5 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.
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, down about $5 per ton from Friday.
Philippines to Decide Over Additional 250,000 Tons of Rice Imports in First
Week of July
Jun 22, 2015
The
National Food Authority (NFA) Council of the Philippines will meet in the first
week of July to discuss supply and import of additional 250,000 tons, it is
already authorized to import, Bloomberg quoted the NFA Administrator.The
Administrator told reporters that the imports of additional volume would depend
on the perceived impact of dry spell in the light of a conflicting outlook for
a mild and prolonged El Nino.
The
Philippines imported 750,000 tons of rice (550,000 tons from Vietnam and
200,000 tons from Thailand) so far this year. Earlier this week, the NFA
invited private traders to import up to 805,200 tons of rice under the WTO's
minimum access volume (MAV) quota at 35% tariff.
In
the second week of June, the Philippines Statistics Authority (PSA) 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.
Italian Paddy Rice Prices Remain Relatively Stable in Second Week of June
Jun 22, 2015
Prices
of most of the Italian rice varieties recorded minimal changes during the
weekended June 16, 2015 from the previous week though prices of some
Japonica varieties such as Vialone Nano adn Carnaroli increased significantly.
More than 90% of the 2014 crop has been sold out and since only about 7-8% of
the total last year's crop are still available, quotations for most of the
varieties were unavailable on June 16.Below are the paddy quotations supplied
by Milan Grain Exchange, farm gate quotes, as of June 16:
Arborio-Volano
rice on June 9 was shown at 870-900 euros (about $ 987-1,022) per ton, but on
June 16 was not quoted.Balilla, Centauro and similar varieties paddy prices
were firm at 415-430 euros (about $ 471-488) per ton on June 9, but was not
quoted on June 16.Lido, Crono, Flipper and similar paddy varieties are
unchanged at 325-340 euros (about $ 369-386) per ton, on both weeks.Padano-Argo
was not quoted on both weeks.Vialone Nano decidedly increased from 810-860
euros (about $ 919-976) per ton on June 9 at 850-900 euros (about $ 965-1,022)
on June 16.Thaibonnet and similar Indica varieties slightly decreased at
320-330 euros (about $ 363-374) per ton on June 16 starting from 330-340
euros (about $ 374-386) per ton on June 9; Sant'Andrea increased to
565-615 euros (about $ 641-698) per ton on June 16, from 525-575 euros (about $
596-652) per ton on June 9; Carnaroli was not quoted on June 16; on June 9 it
was quoted 870-900 euros (about $ 987-1,022) per ton; Baldo paddy prices were
unchanged at 490-540 euros (about $ 556-613) per ton on both weeks; Roma was
not quoted on June 16, but was out 625-655 euros (about $ 709-743) per ton on
June 9.
Selenio was not
quoted on June 16, starting from 405-430 euros (about $ 459-488) per ton on
June 9.
Augusto was out at
340-355 euros (about $ 386-403) per ton on June 16, from 345-360 euros (about $
391-408) per ton on June 9.
Loto and Nembo were
quoted at 340-355 euros (about $ 386-403) per ton on June 16, from 345-360
euros (about $ 391-408) per ton on June 9.
Luna Cl, Dardo and
similars quoted 320-340 euros (about $ 363-386) per ton, unchanged from a week
prior.
Global
Rice Quotes
June 23rd, 2015
Long grain white rice - high quality
Thailand 100% B grade 375-385
↔
Vietnam 5% broken 345-355
↓
India 5% broken 385-395
↔
Pakistan 5% broken 385-395
↔
Myanmar 5% broken 415-425
↔
Cambodia 5% broken 430-440
↔
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 325-335
↓
Pakistan 25% broken 340-350
↔
Cambodia 25% broken 410-420
↔
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 365-375 ↔
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 480-490
↑
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 285-305
↔
Cambodia A1 Super 350-360
↔
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
Cambodia Seeks to Offer More Competitive Bid in Next Filipino Rice Tender
Jun 22, 2015
Cambodia,
which offered a relatively higher bid in the recent Filipino tender for 100,000
tons of rice, is working on ways to offer a more competitive bid in the next
tender by the Philippines government, according to local sources.When the
National Food Authority (NFA) of the Philippines re-invited bids from the three
governments for the remaining 100,000 tons on June 16, all the three
competitors, including Cambodia, Vietnam and Thailand offered bids at much
higher prices than the reference price of the NFA. All the three bidders were
asked to revise their bids.
While
Thailand backed out, Vietnam's bid at $416 per ton and Cambodia's bid at $455
were again higher than the reference price. Since Vietnam's bid was lower of
the two, it was won the Philippines contract.Now, Cambodia's bid was way above
the competitors' as well as the NFA's reference price. The President of the
Cambodia Rice Federation (CRF) told local sources that Cambodian exporters
cannot afford to lower price beyond this due to higher production, processing,
milling, storage and transportation costs prevailing in the country.
He
noted that they are working to bring down all the associated costs and offer a
competitive bid in the next tender. “We are looking at short-term solutions,
like cutting down service costs in the value chain, such as port fees, and in
the long term to increase efficiency in rice processing among the millers and
rice productivity among the farmers,” he was quoted as saying.
Some
analysts also noted that high costs of production inputs such as fertilizers
and insecticides as well as high energy costs and use of outdated technology in
processing plants is impacting Cambodia's competitiveness in the global market.
They are suggesting a mechanism that improves the entire value chain of
Cambodia's rice sector.One of an independent economists noted that Filipino
deals offer very low margins. But Cambodia could make up for these low margins
with higher profits from high value export destinations.
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 1.2 million tons of rice (including official and unofficial
exports to Vietnam and Thailand through borders) in 2015, up about 9% from an
estimated 1.1 million tons in 2014.
Philippines Plans to Preserve and Promote Historical Heirloom Rice
Varieties
Jun 22, 2015
The
Philippines Agriculture Department (DA), the Philippine Rice Research Institute
(PhilRice), International Rice Research Institute (IRRI), International Rice
Genebank of IRRI and several non-government organizations are jointly launching
to project to preserve, nurture and market the historical heirloom rice
varieties that grow in the northern Cordillera region, Reuters quoted local
sources.The project is aimed at inculcating health consciousness among the
Filipino rice consumers as the heirloom rice varieties are grown organically.
The project includes exploring more of such highland rice varieties as well as
reviving almost extinct ones.According to the Research Assistant Director of
the DA in the Cordillera region, nearly 300 rice varieties were grown in the
Cordillera mountains comprising of Abra, Kalinga, Apayao, and the Mountain
province using pre-hispanic tradition, but only 14 varieties found in Kalinga
and Apayao, and 16 in the Mountain province (3 of which are known to be
extinct) are said to be identified and documented so far.According to a survey
conducted in 2009, of late , rice farmers in the Cordillera region are giving
up planting of indigenous varieties for foreign varieties, which are adaptable
to highland and provide higher yield in short period. "There was a great
fear this would result in loss of bio-diversity that dictates the Cordillera
mountain's agricultural cropping patterns, loss of watershed, and deterioration
of highland farming that has enhanced tourism attraction in the north,"
said the Head of Heirloom at the IRRI.Her work on conserving and marketing
Heirloom rice varieties, which began in 2004, had attracted support from local
and national government agencies, including public and private
institutions.Though consumers view Heirloom rice varieties as a health
management solution, they are pretty expensive and are not affordable by all
consumers, say retailers.
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