Bangladesh Releases Five
High-Yielding Aman Rice Varieties
Jul 14, 2015
The government of Bangladesh has
released five new Aman rice varieties that are high-yielding and are capable of
withstanding extreme climate conditions, according to local sources.While four
of the varieties, BRRI 70, 71, 72 and 73 are developed by the Bangladesh Rice
Research Institute (BRRI), the other one BINA Dhan 17 is developed by the
Bangladesh Institute of Nuclear Agriculture (BINA).
All the newly released paddy
varieties reportedly bear different characteristics including stress-tolerance,
drought-tolerance, aromatic and zinc-enriched qualities. While the average Aman
rice yield in the country is at around 3.5 tons per hectare, the new varieties
are capable of producing around 5 to 5.5 tons per hectare, according to local
sources. The BINA Dhan 17 is said to yield around 7 tons per hectare.
The new varieties would help the nation to increase rice production on the
limited space of land, said the Additional Secretary of the Agriculture
Ministry.
Bangladesh had earlier developed seven saline-tolerant, three drought-tolerant
and two submergence-tolerant paddy varieties. So far, since the country's
independence in 1971, the government-owned research institutes have invented
around 83 rice varieties. The BRRI has introduced 66 rice varieties, including
33 Aman varieties, and BINA has introduced 17, of which 13 are Aman varieties.
In the fiscal year 2014-15 (July - June), production from the Aman
(July-December), Aus (February-August) and Boro (January-May) crops is
estimated at around 14 million tons, 2.328 million tons and 19 million tons
respectively, according to data from the Department of Agricultural Extension
(DAE).
USDA estimates Bangladesh’s MY 2015-16 (July 2015 – June 2016) milled rice
production to slightly increase to about 35 million tons from an estimated 34.5
million tons in MY 2014-15. It estimates Bangladesh to import around 1.1
million tons of rice in 2015.
Oryza Afternoon Recap - Chicago
Rough Rice Futures Shoot Back above $11.000 per cwt despite Softer U.S. Grain
Prices Today
Jul 14, 2015
Chicago rough rice futures for Sep delivery settled 14.5 cents per cwt
(about $3 per ton) higher at $11.080 per cwt (about $244 per ton). The other
grains finished the day lower; Soybeans closed about 0.3% lower at $10.2500 per
bushel; wheat finished about 0.8% lower at $5.7100 per bushel, and corn
finished the day about 2.8% lower at $4.2825 per bushel.
U.S. stocks traded higher on Tuesday as investors eyed economic reports and
earnings that continued to indicate less-than-robust growth, amid developments
in Greece and Iran. European stocks ended mildly higher on hopes that the Greek
parliament will pass the legislation needed to secure a third bailout. Asian
shares were mixed with Chinese stocks ending a three-day winning streak to
close just over 1% lower. The Greek finance ministry submitted a reform bill
Tuesday. The nation's parliament has until Wednesday night to approve the
legislation, paving the way for Athens to meet a Monday repayment deadline to
the European Central Bank. U.S. equities rose further in midday trade but gains
remained muted. In other international news, Iran and six major powers early on
Tuesday clinched a historic nuclear deal that will see some sanctions against
Tehran eased in exchange for restrictions on its nuclear program. In other
economic news, May business inventories rose 0.3%, in-line with expectations.
Business sales rose 0.4% after increasing 0.5% in April. U.S. import
prices unexpectedly fell in June as the lingering effects of a strong dollar
offset rising costs for petroleum products, keeping imported inflation pressure
under wraps. The Dow Jones Industrial Average traded up 66 points, or 0.37%, at
18,042. The S&P 500 traded up 9 points, or 0.42%, at 2,108, with energy
leading nine sectors higher and utilities the only laggard. The Nasdaq traded
up 36 points, or 0.71%, at 5,107. Gold is trading about 0.2% lower, crude oil
is seen trading about 1% higher, and the U.S. dollar is seen trading at about
0.2% lower at about 1:00pm Chicago time.
Monday, there were 881 contracts traded, down from 1,154 contracts traded
on Friday. Open interest – the number of contracts outstanding – on Monday
decreased by 200 contracts to 9,195.
China Rice Imports Decline
Sharply in First Four Months of 2015
Jul 14, 2015
China has imported around 628,000 tons of rice in the first four months of
2015 (January - April), down about 23% from around 812,600 tons imported during
the same period last year, according to data from China Customs General
Administration.
In April 2015, China imported around 330,000 tons of rice, over twice from
around 140,000 tons imported in March 2015, and slightly up from around 184,318
tons imported in April 2014.
China has exported around 34,400 tons of rice in first two months of 2015,
down about 42% from around 24,182 tons exported during the same period last
year, according to data from the China Customs General Administration.
In February 2015, China exported around 15,100 tons of rice, down about 22%
from around 19,300 tons exported in January 2015 and over twice from around 641
tons exported in February 2014.
China imported about 2.563 million tons of rice and exported about 419,069
tons of rice and in 2014.
Brazil Paddy Rice Index
Increases Slightly from Last Week
Jul 14, 2015
The Brazilian paddy rice index maintained by CEPEA reached around 33.78
real per 50 kilograms as of July 10, 2015, up about 0.30% from around 33.68
real per 50 kilograms recorded on July 3, 2015.
In terms of USD per ton, the index reached around $212 per ton on July 10,
2015, down about 1.50% from around $215 per ton recorded on July 3, 2015.
Oryza U.S. Rough
Rice Recap - Cash Offers Hard to Come By as Price Ideas Jump with Futures
Jul 14, 2015
The U.S. cash market was firmer
today recovering from yesterday’s losses with farmer price ideas increasing
everyday as the futures market gains strength.Analysts note that there is a
sizable amount of farmers with old crop left to sell who are hoping to see
prices increase even further however many are urging them to price their
remaining inventory now before new crop becomes available.
Indian Basmati Rice Variety 1509
Not Suitable for Exports, Say Millers
Jul 14, 2015
Rice millers from Indian state Haryana are avoiding procurement of new
basmati variety 1509 as it is not accepted in the international market,
according to local sources.The All-Haryana Rice Miller and Dealers Association
has decided not to procure this variety as it fails to adhere to export
parameters due to high breakage levels.
The State Vice-President told local sources that the variety is being rejected
by exporters as it does not have sufficient demand among buyers. He noted that
farmers have been preferring planting this variety for its high yield, slender
grain and early maturity, but exporters are facing a lot of challenges. Only a
few buyers from the Middle East countries are preferring this variety, he
added.
Due to these reasons, millers have decided to advice farmers to stop
cultivating this variety, the President of a Rice Miller Association was
quoted.
However, local sources noted that the inherent reason behind the millers
rejecting the variety is that the variety cannot mix well with other
non-basmati varieties. Most of the buyers have been preferring blended rice in
which basmati rice is mixed with non-basmati varieties for the sake of aroma.
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 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
July 14th, 2015
Long grain white rice - high
quality
Thailand 100% B grade 400-410 ↑
Vietnam 5% broken 345-355 ↔
India 5% broken 385-395 ↔
Pakistan 5% broken 370-380 ↓
Myanmar 5% broken 415-425 ↔
Cambodia 5% broken 425-435 ↔
U.S. 4% broken 470-480 ↔
Uruguay 5% broken 535-545 ↔
Argentina 5% broken 530-540 ↔
Long grain white rice - low
quality
Thailand 25% broken 365-375 ↑
Vietnam 25% broken 325-335 ↔
Pakistan 25% broken 330-340 ↓
Cambodia 25% broken 410-420 ↔
India 25% broken 350-360 ↔
U.S. 15% broken 445-455 ↔
Long grain parboiled rice
Thailand parboiled 100% stxd 395-405 ↔
Pakistan parboiled 5% broken stxd 415-425 ↔
India parboiled 5% broken stxd 370-380 ↔
U.S. parboiled 4% broken 555-565 ↔
Brazil parboiled 5% broken 545-555 ↔
Uruguay parboiled 5% broken NQ ↔
Long grain fragrant rice
Thailand Hommali 92% 830-840 ↓
Vietnam Jasmine 490-500 ↔
India basmati 2% broken NQ ↔
Pakistan basmati 2% broken NQ ↔
Cambodia Phka Mails 835-845 ↔
Brokens
Thailand A1 Super 315-325 ↔
Vietnam 100% broken 310-320 ↔
Pakistan 100% broken stxd 285-295 ↔
Cambodia A1 Super 350-360 ↔
India 100% broken stxd 295-305 ↔
Egypt medium grain brokens NQ ↔
U.S. pet food 350-360 ↔
Brazil half grain NQ ↔
All prices USD per ton, FOB vessel,
oryza.com
CAFTA-DR Trade Pact Aids
Dominican Republic Farmers to Lower Rice Production Costs by 30%
Jul 14, 2015
The Dominican Republic-Central America FTA (CAFTA-DR) free trade pact has
helped Dominican Republic farmers to lower their rice production costs by about
30% in the last three years, according to local sources.
The trade pact between the U.S. and group of Central American countries
such as Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the
Dominican Republic aims to promote stronger trade and investment ties,
prosperity, and stability throughout the region.
Free import of agricultural equipment from the U.S. under the pact has
encouraged improved rice cultivation methods by the farmers, according to the
Agriculture Bank (Bagricola) Administrator. He noted that farmers who were
earlier using about 20 pounds of seed per 630 square meter (around 143
kilograms per hectare) are now using only six pounds (around 43 kilograms per
hectare) due to improved cultivation methods. He added that production costs
have been reduced considerably by elimination of tillage, soil levelling and
resorting to bulk planting.
He also noted that the improved equipment had reduced soil preparation
costs by about 27 pesos per sack of rice (around $0.6).
The Bagricola Administrator also told that the Bank has also been promoting
rice production in the country by providing loans to farmers. He noted that the
Bank provided about RD$976.8 million (around $22 million) in loans to rice
farmers covering about 72,000 hectares of rice area.
USDA estimates Dominican Republic to produce around 520,000 tons of rice in
MY 2015-16, down about 3% from around an estimated 538,000 tons in MY 2014-15.
It estimates the country to import around 15,000 tons of rice in 2015.
Oryza Overnight Recap – Chicago
Rough Rice Futures Stabilize Just Under $11.000 as Market Looks for Fundamental
Support
Jul 14, 2015
Chicago rough rice futures for Sep
delivery are currently seen trading 3.5 cents per cwt (about $1 per ton) higher
at $10.970 per cwt (about $242 per ton) during early floor trading in
Chicago. The other grains are seen trading with mixed results this
morning; soybeans are currently seen trading about 0.1% higher, wheat is listed
about 0.8% lower and corn is currently noted about 1.4% lower.
U.S. stocks traded in a narrow range on Tuesday as investors eyed
economic reports and earnings that continued to indicate less-than-robust
growth, amid news of a deal in Iran. Stock index futures were narrowly mixed in
early trade, with S&P and Dow futures extending losses slightly after a
retail sales showed a decline of 0.3%, missing expectations of a 0.3% increase.
Stocks surged on Monday following
news of a bailout deal between Greece and its creditors. In other economic
news, U.S. import prices unexpectedly fell in June as the lingering effects of
a strong dollar offset rising costs for petroleum products, keeping imported
inflation pressure under wraps. The data comes ahead of Federal Reserve Chair
Janet Yellen's semi-annual testimony before Congress on Wednesday andThursday.
Iran and six major powers early on Tuesday clinched a
historic nuclear deal that will see some sanctions against Tehran eased in
exchange for restrictions on its nuclear program. Elsewhere, European stocks
traded mildly lower on concerns that the Greek parliament will struggle to pass
the legislation needed to secure a third bailout, while Asian shares were mixed
with Chinese shares ending a three-day winning streak to close just over 1%
lower. Gold is currently trading about 0.2% higher, crude oil is seen trading
about 0.6% lower, and the U.S. dollar is currently trading about 0.5%
lower at 8:30am Chicago
time.
Rice Farmers in Central, North
Provinces of Vietnam Advised to Shift to Drought-Resistant Crops
Jul 14, 2015
Vietnam's Ministry of Agriculture and Rural Development (MARD) has
advised rice farmers in the drought-ridden central and northern provinces to shift
from rice to other drought-resistant crops, according to local sources.
As the country's central and northern provinces have been facing worst
drought in 40 years, MARD's Plant Cultivation Department has reportedly sought
the provincial governments' assistance in issuing policies and supporting
farmers in shifting from rice cultivation to other crops. It has also asked
them to provide capital support to farmers in order to compensate for their
losses as well as to restructure their farming activities.
The Ministry sources told that farmers are advised to shift from the
2014-15 winter-spring crop as well as the 2015 summer-autumn crop in about 60%
of the planned rice area of around 8,527 hectares in the two regions.
About 50,000 hectares of farm land across the country is reportedly
affected by drought and the Ministry sources noted that local provincial
governments have taken measures such as digging ponds, sourcing underground
water, and dredging canals to try and provide water for irrigation and daily
use. They have also sought the hydroelectric plants to release water from their
reservoirs, said MARD. It added that around VND57.5 billion ($2.6 million) have
been spent on drought mitigation measures so far this year.
In May this year, the USDA Post estimated that the 2015 summer autumn crop
would be planted in about 7.7 million tons and is expected to produce around
15.95 million tons, basis paddy (around 9.98 million tons, basis milled).
USDA estimates Vietnam to produce around 28 million tons of rice, basis
milled (around 44.88 million tons, basis paddy) and export around 6.7 million
tons in 2014-15 (January 2015 - December 2015).
Philippines Slightly Raises
Forecasts for 2015 Second Quarter Paddy Output
Jul 14, 2015
The Philippines Statistics Authority (PSA) estimates Philippines' 2015
second quarter (April - June) production at around 3.905 million tons, down
about 4.1% from last year's 4.07 million tons and up about 0.1% from April
forecast of around 4.07 million tons, according to a news release on its
website.
The slight increase in PSA estimates can be attributed to an improvement in
yield in irrigated areas because of increased availability of water supply
during growth stage, increased usage of hybrid seeds and fertilizers as well as
lesser infestation of pests.
However, the y/y decline in paddy production can be attributed to a decline
in harvest area and decline in yield due to adverse effects of dry spell,
inadequate water supply and incidence of pests in some provinces.
The PSA estimates the harvest area to decline to around 910,000 hectares
from around 920,000 hectares last year. It however estimates the yield to
increase to around 4.27 tons per hectare from around 4.25 tons per hectare.
Harvesting of the 2015 standing crop in about 815,000 hectares is complete,
and planting is complete in about 291,000 hectares or 33.3% of planting for the
July-September 2015 crop is complete, according to the PSA.
In April, the PSA forecasted paddy production in the first half of 2015
(January - June) at around 8.27 million tons, down about 1.32% from around 8.38
million tons last year.
USDA estimates Philippines MY 2015-16 (July - June) paddy rice production
at around 19.683 million tons (around 12.4 million tons, basis milled), up
about 4% from an estimated 18.857 million tons (around 11.88 million tons,
basis milled) produced in the previous year. It estimates the Philippines to
import 1.7 million tons of rice in 2015 and around 1.3 million tons in 2016.
Thailand Approves $1.77 Billion
in Loans for Drought-Hit Rice Farmers
Jul 14, 2015
The government of Thailand has approved loans of around $60 billion baht
(around $1.77 billion) to support rice farmers impacted by drought, Reuters
quoted the Finance Minister.
Thailand's Bank of Agriculture and Agricultural Cooperatives (BAAC) has
approved loans for about one million farmers following a meeting with the
Finance Minister.
The loans constitute of short-term funds for emergencies to drought
rehabilitation as well as long-term funds to help farmers increase farm
productivity with repayment periods ranging from one to ten years. It has also
been decided that farmers would be allowed to extend their debt periods up to
one year.
The Finance Minister told reporters that the loans would help farmers to
recover from drought, support jobs and develop production.
In the first week of July, Bloomberg reported that the BAAC was planning to
approve 60 billion baht (around $1.77 billion) loans to encourage rice farmers
to shift to other crops. The BAAC reportedly noted that half of the planned
lending amount will be used for encouraging rice farmers to shift to other
crops and constitute short-term loans with an interest rate of 4% per annum.
The remaining half would support farmers to grow other crops over the next
three years and constitute three-year loans carrying an interest rate of 7% per
annum.
Nearly 66 provinces in Central Thailand are battling drought and the
government has government has advised rice farmers to delay planting for the
2015 main rice crop until August, when it is expecting rains to resume. The
Office of Agricultural Economics (OAE) has estimated that the output from 2015
main rice crop, which contributes to around 70% of the country's total rice output,
to decline about 14% to around 23.3 million tons from around 27.1 million tons
last year.
Thailand Rice Quotes Mixed
Today; Pakistan Rice Sellers Lower Some Their Quotes
Jul 14, 2015
Thailand rice sellers increased their quotes for 5% and 25% broken rice by
about $5 per ton each to around $390-$400 per ton and $365-$375 per ton
respectively and lowered their quotes for Hommali rice by about $35 per ton to
around $830-$840 per ton today. Pakistan rice sellers lowered their quotes for
5% broken rice and 25% broken rice by about $5 per ton each to around $370-$380
per ton and $330-$340 per ton respectively. India rice sellers kept their
quotes mostly unchanged today.
5% Broken Rice
Thailand 5% rice is indicated at around $390 - $400 per ton, up about a $5
per ton from yesterday and about a $45 per ton premium on Vietnam 5%
rice shown at around $345 - $355 per ton. India 5% rice is indicated at
around $385 - $395 per ton, about $15 per ton premium on Pakistan 5% rice shown
at around $370 - $380 per ton, down about a $5 per ton from yesterday.
25% Broken Rice
Thailand 25% rice is shown at around $365 - $375 per ton, up about a $5 per
ton from yesterday and about a $40 per ton premium on Vietnam 25% rice shown at
around $325- $335 per ton. India 25% rice is indicated at around $350 - $360,
about $20 per ton premium on Pakistan 25% rice shown at around $330 - $340 per
ton, down about a $5 per ton from yesterday.
Parboiled Rice
Thailand parboiled rice is indicated at around $395 - $405 per ton. India
parboiled rice is indicated at around $370- $380 per ton, about a $45 per ton
discount to Pakistan parboiled rice shown at around $415 - $425 per ton.
100% Broken Rice
Thailand broken rice, A1 Super, is indicated at around $315 - $325 per ton,
on par with Vietnam 100% broken rice shown at around $315 - $325 per ton.
India's 100% broken rice is shown at around $295 - $305 per ton, about a $10
per ton premium on Pakistan broken sortexed rice shown at around $285 -
$295 per ton.
Uruguayan Rice Farmers Fear
Drought to Threaten 2015-16 Rice Harvests; Caribbean Islands Too Face Difficult
Times
Jul 14, 2015
Uruguayan rice farmers are facing a double
whammy with extending dry weather conditions on one hand and falling water
levels in dams, rivers and ponds on the other, Bloomberg quoted local sources.
The country, which planted rice in about
170,000 hectares and produced a paddy yield of around 8.7 tons per hectare in
2014, is doubtful of maintaining this pace this year. Water levels in dams
across the country are currently below at their minimum levels. Normally, they
should be half their capacity by this time of the year.
Rice planting in Uruguay usually begins in
October and continues till December, and rice is harvested between March and
May. Though farmers still have over two months before beginning rice planting
operations, they are concerned of extremely low water levels. They told local
sources that if the situation does not improve by the time they start sowing
seeds for the 2015-16 crop, rice harvests may be critically impacted.
An impending rice trade agreement with
Venezuela, under which Uruguay will supply rice to the neighboring nation, is
expected to bring cheers to the Uruguayan rice community.
USDA estimates Uruguay to produce around
1.036 million tons of milled rice in 2015-16 (April - March), up about 1.4%
from an estimated 1.022 million tons last year. It estimates Uruguay to export
around 950,000 tons of rice in 2015, up about 7% from an estimated 890,000 tons
in 2014-15.
Caribbean Islands Enduring Worst Drought in
Five Years
Meanwhile, continuing dry weather
conditions in the Caribbean countries such as Jamaica, Puerto Rico, Trinided
& Tobago and Dominican Republic, are posing challenges to their
governments, according to Bloomberg. The governments of most of these
countries have started water rationing for agriculture and domestic purposes in
order to bear with the persisting dry conditions and less rains.
The Barbados-based Caribbean Institute for
Meteorology & Hydrology is expecting the drought conditions to extend till
September this year. However, the U.S. National Oceanic and Atmospheric
Administration noted that there is at least a 90% chance that El Nino, which
causes droughts in Asia and South America, will last through next winter and an
80% chance that it will continue until spring 2016.
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