Oryza Afternoon Recap - Chicago Rough Rice Futures Finish the Day Little Changed after Retracing Early Session Gains; Soy Tumbles on Disappointing Export Sales
Jul 23, 2015
Chicago rough rice futures for Sep delivery settled 1 cent per cwt (about $0.22 per ton) lower at $11.110 per cwt (about $245 per ton). The other grains finished the day mostly lower, led by losses in the soy complex; Soybeans closed about 1.6% lower at $9.8025 per bushel; wheat finished about 0.9% higher at $5.2125 per bushel, and corn finished the day about 0.1% higher at $4.1375 per bushel.
U.S. stocks traded lower after initially attempting gains on Thursday as investors focused on a slew of mostly lackluster earnings reports. Stocks came off their lows in afternoon trade. The Dow Jones industrial average traded about 70 points lower, after dipping more than 110 points, but remained in the red for 2015. The S&P 500 and Nasdaq Composite also turned lower. In economic news, weekly jobless claims came in at 255,000, their lowest level since 1973. While analysts said the low figure may keep a rate hike on the table for this year, they were cautious about reading too much into a figure that may be exaggerated by seasonal production changes. The Dow Jones Industrial Average traded 81 points lower, or 0.45%, at 17,700. The S&P 500 traded down 7 points, or 0.34%, at 2,107, with utilities leading nine sectors lower and information technology the only advancer. The Nasdaq traded down 9 points, or 0.17%, at 5,162. Gold is trading about 0.3% lower, crude oil is seen trading about 1.2% lower, and the U.S. dollar is seen trading at about 0.5% lower at about 2:00pm Chicago time.
Wednesday, there were 750 contracts traded, up from 520 contracts traded on Tuesday. Open interest – the number of contracts outstanding – on Wednesday decreased by 84 contracts to 8,641.
Scientists Develop Low Methane-Emitting GM Rice
Jul 23, 2015
A team of scientists from China, Sweden and the U.S. developed a new genetically modified rice variety called SUSIBA2 by adding a barley gene to a conventional rice variety, according to a paper published in the journal Nature. The SUSIBA2 rice variety is said to emit only 1% of the methane produced by conventional varieties while increasing the yield. The paper states that three-year field trials in China demonstrated that cultivation of SUSIBA2 rice variety resulted in much lower methane emissions and starchier grains. Scientists who were involved in the development of the variety noted that the new rice variety provides increased starch content for food production and thereby reduces methane emissions.
Rice paddies are said to produce about 25 to 100 million tons of methane every year into the atmosphere. Though methane lives for a very short time in atmosphere that carbon dioxide (CO2), the most abundant greenhouse gas, it absorbs and radiates more heat from the earth's surface. Therefore, a need for developing a new rice variety that reduces methane emissions was recognized. In 2002, a study noted that the rice plants, which carried more grains tend to emit less methane.
Normally, leaves and stems of rice plants absorb CO2, which is converted into sugars through the process of photosynthesis. These sugars are used to produce starch in the shoots, roots and grains. Carbon that is unused usually gets released into the soil, which escapes into the atmostphere as methane. Therefore, the larger number of grains lead to lesses emission of carbon.
SUSIBA2 rice provides increased starch content for food production in rice plants leaving less amount of unused carbon, and effectively reduces methane emissions.Experts say this approach is "a tremendous opportunity for more sustainable rice cultivation". However, with consumption of GM products is being opposed worldwide, scientists said they are working on alternate models such as modifying already existing genes in the conventional rice itself without using genetic engineering.
India Rice Bran Oil Exporters Expect Higher Interest from Japan
Jul 23, 2015
With the government of India removing quantitative restrictions on edible rice exports and approving bulk rice bran oil exports, rice bran oil exporters are expecting higher interest from Japan for India's rice bran oil, according to local sources.The whole rice bran oil industry, including paddy farmers, rice millers and exporters have cheered with the government's decision."Japan has always been keen to lift rice bran oil from India, but due to the ban we were not able to export the oil in bulk form. Now that the ban is removed, it will be easier for us to export the oil to the country," the Chairman of one of the India's leading rice bran oil producer was quoted.
India can export up to 50,000 tons of rice bran oil annually, according to industry estimates.Local sources noted that the government approved bulk rice bran oil exports despite India being a major importer of edible oils in order to help paddy farmers and small rice millers better price as demand for the product is still very low domestically.The government of India banned edible oil exports since March 17, 2008 but has been allowing certain exemptions from time to time, according to local sources
Bangladesh Rice Farmers Avoiding Hybrid Rice Cultivation Due to High Production Costs, Low Prices
Jul 23, 2015
Bangladesh rice farmers are denying to cultivate hybrid rice this year despite the Agriculture Ministry encouraging them to increase planting of hybrid rice, according to local sources.
Some farmers told reporters that cost of producing hybrid rice is very high (about 10-15% higher than normal varieties) but prices they receive are very low. They also noted that consumers are unwilling to buy hybrid rice.
Agriculture Ministry officials said though farmers have to spend more on buying seeds, fertilizers and pesticides as well as irrigation to grow hybrid rice, growing hybrid rice is the only means of boosting rice production in the country. The Additional Secretary of the Agriculture Ministry noted that ignorance about cultivation techniques, lack of demand for hybrid rice and its low price are hindering the expansion of hybrid rice acreage in the country. Bangladesh farmers have been planting about 10,000 tons of hybrid rice seeds in about 700,000 hectares of land every year for the last few years, he said.
The Department of Agriculture Extension (DAE) under the Agriculture Ministry, usually promotes hybrid rice cultivation in all the three Aman, Aus and Boro seasons. According to the DAE statistics, in 2014-15 Boro season (January-May), the country’s hybrid rice acreage increased to about 753,000 hectares from around 614,000 hectares last year. In 2014-15 Aman season (July-December), it increased to around 51,000 hectares from 23,000 hectares in the previous years. 2014-15 Aus season's (February-August) hybrid rice acreage increased to around 50,000 hectares from around 31,000 hectares last year.
The DAE Additional Director said the government has been attaching great importance to hybrid rice cultivation to boost production. He also noted that since local companies have started breeding seeds locally, prices maBangladesh estimates to produce around 35.328 million tons of rice in the FY 2014-15 (July - June).USDA estimates Bangladesh’s MY 2015-16 (July 2015 – June 2016) milled rice production at around 35 million tons, slightly up 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.
Thailand Rice Sellers Lower Some of Their Quotes Today; Other Asia Quotes Unchanged
Jul 23, 2015
Thailand rice sellers lowered their quotes for 25% broken rice by about $5 per ton each to around $355-$365 per ton. Other Asia rice sellers kept their quotes mostly unchanged.
5% Broken Rice
Thailand 5% rice is indicated at around $380 - $390 per ton, down about $5 per ton from yesterday and about $35 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.
25% Broken Rice
Thailand 25% rice is shown at around $355 - $365 per ton, down about $5 per ton from yesterday and about $30 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 - $340per ton.
Parboiled Rice
Thailand parboiled rice is indicated at around $390 - $400 per ton. India parboiled rice is indicated at around $380- $390 per ton, about $35 per ton discount to Pakistan parboiled rice was last shown at around $415 - $425 per ton.
100% Broken Rice
Thailand broken rice, A1 Super, is indicated at around $320 - $330 per ton, about $5 per ton from premium on Vietnam 100% broken rice shown at around $315 - $325 per ton. India's 100% broken rice is shown at around $305 - $315 per ton, about $20 per ton premium on Pakistan broken sortexed rice shown at around $285 - $295 per ton.
Philippines Assessing Need for More Rice Imports, Says Central Bank Official
Jul 23, 2015
The government of the Philippines is studying the demand and supply conditions of rice in the country to assess the need for more rice imports this year amid concerns of an intensifying El Nino, Reuters quoted the Director of the Department of Economic Research at the Bangko Sentral ng Pilipinas (BSP).The official is one of the Central Bank's representatives to the National Food Authority Council, that approves rice imports in the country.
The state weather forecaster PAGASA stated that dry conditions associated with the El Nino phenomenon are likely to intensify from October to December this year and further stretch into the first quarter of 2016.The Central Bank official noted that though the option of importing rice is always open, the government is drawing plans to mitigate the impact of El Nino on rice production. He added that they are expecting the production to be sufficient until fourth quarter.
The NFA has decided to import 750,000 tons of rice (200,000 tons from Thailand and 550,000 tons from Vietnam) under government-to-government deals in 2015 to ensure adequate stocks in the lean season (June – September). It has also allowed private traders to import around 805,200 tons of 25% broken rice at 35% tariff under the WTO Minimum Access Volume (MAV) country specific quota (CSQ) before November 30, 2015.
It is authorized to import another 250,000 tons if a drought induced by El Nino intensifies and hurts local rice production.Separately, the NFA Administrator noted that a Food Security Committee comprising of representatives from the National Economic and Development authority (NEDA) has guaranteed exact inputs on the amounts of rice that need to be imported. He also noted that the agency is coming up with schemes to combat high rice prices.
U.S. Expands Rice Import Phytosanitary Safeguards to Defend Against Khapra Beetle
Jul 23, 2015
The United States Agriculture Department’s Animal and Plant Health Inspection Service (USDA’s APHIS) has published a new rule restricting entry of certain commodities from countries where the Khapra beetle (Trogoderma granarium) is known to exist.
The new rule is said to be final and is effective from July 21, 2015. Under the final rule, commercial shipments of rice, soybeans, cicer species (chickpeas) and safflower seeds originating from countries where Khapra beetle is known to occur must be inspected and accompanied by a phytosanitary certificate with an additional declaration stating that the shipment has been inspected and found free of Khapra beetle. Also, the entry of rice, chick peas, safflower seeds, and soybeans in passenger baggage and personal effects is prohibited.
The rule has also added new countries such as countries Kuwait, Oman, Qatar, the United Arab Emirates (U.A.E.), and South Sudan, and the Palestinian Authority, West Bank to the regulated countries or areas.
While the new rule may be unlikely to impact imports of rice into the U.S., because the khapra beetle restrictions on rice imports have been in place since July 2012, and also the U.S. does not import much of rice from the newly added countries. Industry experts say the move may be an effort to close any potential trade flow loop holes such as rice from India or Pakistan being re-exported from the U.A.E. to the U.S.
Vietnam Converts 78,375 Hectares of Rice Area to Higher Value Crops
Jul 23, 2015
Vietnam's Ministry of Agriculture and Rural Development (MARD) has converted around 78,375 hectares of rice area in the Mekong Delta into higher value crops such as vegetables and maize under a two-year agricultural restructuring project, according to local sources.
Vietnam has for last few decades focused intensively on rice production. Used of modern farming tools and high-yielding varieties have increased the country’s annual paddy rice production from around 37 million tons some years ago to around 45 million tons. Vietnam exports around one fourth of its milled rice production and is the world's third largest rice exporter.
However, of late, demand for Vietnamese rice has been declining with the emergence of newer exporters such as Cambodia and Myanmar apart from already existing competitors such as Thailand and India. Therefore rice supply is more than the demand. Also a low demand from Vietnam's traditional importers such as Singapore, China and the Philippines has also become a concern.
In order to address this issue, the MARD has started the agriculture restructuring program two years back. MARD officials told local sources that the plan has helped the country produce more of vegetables and maize and increase inputs for livestock feed production. It also noted that crop rotation has helped reduce diseases and insects in rice crops.
This year, the MARD is planning to convert another 87 hectares of rice area in the Mekong Delta to vegetable, maize and fruit crops. By 2020, it aims to convert a total of 700,000 - 800,000 hectares of rice land in the country. It is also encouraging farmers in Northern and Central regions and the Central Highlands to shift from low yield rice into other crops from now until 2020.
USDA estimates the current rice area in Vietnam at around 7.66 million hectares.
Meanwhile, the demand for corn for animal feed has been increasing in the country, so domestic production has been ramping up. In a recent report, USDA Post estimated Vietnam's MY 2015-16 (May-April) corn imports to decline to around 1.8 million tons from an estimated 2 million tons in MY 2014-15 due to expected higher local corn production and carry-over stocks from MY 2013-2014. The demand for feed and residual in MY 2015-16 is expected to increase to around 5.9 million tons from an estimated 5.3 million tons last year. Production is expected to increase to around 5.98 million tons in MY 2015-16 from an estimated 5.625 million tons last year.
Global Rice Quotes
July 23rd, 2015
Long grain white rice - high quality
Thailand 100% B grade 390-400 ↔
Vietnam 5% broken 345-355 ↔
India 5% broken 385-395 ↔
Pakistan 5% broken 370-380 ↔
Myanmar 5% broken 400-410 ↔
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 355-365 ↓
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 390-400 ↔
Pakistan parboiled 5% broken stxd 415-425 ↔
India parboiled 5% broken stxd 380-390 ↔
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% 855-865 ↔
Vietnam Jasmine 485-495 ↔
India basmati 2% broken NQ ↔
Pakistan basmati 2% broken NQ ↔
Cambodia Phka Mails 835-845 ↔
Brokens
Thailand A1 Super 320-320 ↔
Vietnam 100% broken 315-325 ↔
Pakistan 100% broken stxd 285-295 ↔
Cambodia A1 Super 350-360 ↔
India 100% broken stxd 305-315 ↔
Egypt medium grain brokens NQ ↔
U.S. pet food 325-335 ↔
Brazil half grain NQ ↔
All prices USD per ton, FOB vessel, oryza.com
Oryza Overnight Recap – Chicago Rough Rice Futures Move Higher in Attempt to Test Technical Resistance at $11.180
Jul 23, 2015
Chicago rough rice futures for Sep delivery are currently seen trading 5.5 cents per cwt (about $1 per ton) higher at $11.175 per cwt (about $246 per ton) during early floor trading in Chicago. The other grains are seen trading mostly lower this morning; soybeans are currently seen trading about 0.6% lower, wheat is listed about 1.4% higher and corn is currently noted about 0.2% lower.
U.S. stocks opened mixed on Thursday as investors focused on a slew of mostly lackluster earnings reports. In economic news, weekly jobless claims came in at 255,000, their lowest level since 1973. While analysts said the low figure may keep a rate hike on the table for this year, they were cautious about reading too much into a figure that may be exaggerated by seasonal production changes. The Dow Jones Industrial Average traded down 13 points, or 0.07$, at 17,836. The S&P 500 traded up 1 point, or 0.06%, at 2,115, with consumer discretionary leading five sectors higher and utilities leading decliners. The Nasdaq traded up 9 points, or 0.17%, at 5,180. Gold is currently trading about 0.4% higher, crude oil is seen trading about 0.7% higher, and the U.S. dollar is currently trading about 0.4% lower at 9:00am Chicago time.
Three sides to complement a Middle Eastern meal
With three locations to better serve our customers, our one-stop butcher shop offers lamb, goat, beef and poultry, as well as other products for the grill, including our signature skewers and spicy merguez sausage.
For the chef at home, Almarwa is happy to share the following flavourful recipes for side dishes that complement our meat, and that complete a tasty Middle Eastern meal your family won’t soon forget:
Cumin-Spiced Potatoes
Boil four medium-sized potatoes and cook until they can be lightly penetrated with a fork. In the meantime, while the potatoes cool, place a skillet on medium heat and add four tablespoons olive oil.
Sauté a quarter cup chopped onion until soft. Add potatoes, a teaspoon of cumin, three tablespoons lemon juice, and salt and pepper to taste. Cook until crispy and garnish with freshly chopped parsley.
Fatoush Salad
Cube tomatoes and cucumber and combine in a bowl. Add finely sliced scallions and minced garlic. Mix in a handful of freshly chopped parsley and a few sprigs of mint and set aside.
Rub some pita bread with olive oil and sprinkle with sumac. Toast or grill the bread until crispy. Cut into small pieces and mix into salad. Lightly dress the salad with olive oil and lemon (three parts oil to one part acid), and season with salt and pepper.
Fragrant Rice
In a skillet, heat one tablespoon black peppercorn, two teaspoons whole allspice and whole cloves, and a stick of cinnamon until fragrant. Set aside to cool before pulverizing the spices into a powder using a grinder. Meanwhile, toast one cup of slivered almonds in a frying pan until golden.
In a pot, place two cups of basmati rice with some olive oil and mix in the spice powder to coat. Heat until the rice is slightly toasted. Pour in three and half cups of water and boil. Reduce heat and cover rice until tender and water is absorbed – about 30 minutes. Transfer to a serving dish and garnish with freshly chopped parsley and almonds.
Jul 23, 2015
Chicago rough rice futures for Sep delivery settled 1 cent per cwt (about $0.22 per ton) lower at $11.110 per cwt (about $245 per ton). The other grains finished the day mostly lower, led by losses in the soy complex; Soybeans closed about 1.6% lower at $9.8025 per bushel; wheat finished about 0.9% higher at $5.2125 per bushel, and corn finished the day about 0.1% higher at $4.1375 per bushel.
U.S. stocks traded lower after initially attempting gains on Thursday as investors focused on a slew of mostly lackluster earnings reports. Stocks came off their lows in afternoon trade. The Dow Jones industrial average traded about 70 points lower, after dipping more than 110 points, but remained in the red for 2015. The S&P 500 and Nasdaq Composite also turned lower. In economic news, weekly jobless claims came in at 255,000, their lowest level since 1973. While analysts said the low figure may keep a rate hike on the table for this year, they were cautious about reading too much into a figure that may be exaggerated by seasonal production changes. The Dow Jones Industrial Average traded 81 points lower, or 0.45%, at 17,700. The S&P 500 traded down 7 points, or 0.34%, at 2,107, with utilities leading nine sectors lower and information technology the only advancer. The Nasdaq traded down 9 points, or 0.17%, at 5,162. Gold is trading about 0.3% lower, crude oil is seen trading about 1.2% lower, and the U.S. dollar is seen trading at about 0.5% lower at about 2:00pm Chicago time.
Wednesday, there were 750 contracts traded, up from 520 contracts traded on Tuesday. Open interest – the number of contracts outstanding – on Wednesday decreased by 84 contracts to 8,641.
Scientists Develop Low Methane-Emitting GM Rice
Jul 23, 2015
A team of scientists from China, Sweden and the U.S. developed a new genetically modified rice variety called SUSIBA2 by adding a barley gene to a conventional rice variety, according to a paper published in the journal Nature. The SUSIBA2 rice variety is said to emit only 1% of the methane produced by conventional varieties while increasing the yield. The paper states that three-year field trials in China demonstrated that cultivation of SUSIBA2 rice variety resulted in much lower methane emissions and starchier grains. Scientists who were involved in the development of the variety noted that the new rice variety provides increased starch content for food production and thereby reduces methane emissions.
Rice paddies are said to produce about 25 to 100 million tons of methane every year into the atmosphere. Though methane lives for a very short time in atmosphere that carbon dioxide (CO2), the most abundant greenhouse gas, it absorbs and radiates more heat from the earth's surface. Therefore, a need for developing a new rice variety that reduces methane emissions was recognized. In 2002, a study noted that the rice plants, which carried more grains tend to emit less methane.
Normally, leaves and stems of rice plants absorb CO2, which is converted into sugars through the process of photosynthesis. These sugars are used to produce starch in the shoots, roots and grains. Carbon that is unused usually gets released into the soil, which escapes into the atmostphere as methane. Therefore, the larger number of grains lead to lesses emission of carbon.
SUSIBA2 rice provides increased starch content for food production in rice plants leaving less amount of unused carbon, and effectively reduces methane emissions.Experts say this approach is "a tremendous opportunity for more sustainable rice cultivation". However, with consumption of GM products is being opposed worldwide, scientists said they are working on alternate models such as modifying already existing genes in the conventional rice itself without using genetic engineering.
India Rice Bran Oil Exporters Expect Higher Interest from Japan
Jul 23, 2015
With the government of India removing quantitative restrictions on edible rice exports and approving bulk rice bran oil exports, rice bran oil exporters are expecting higher interest from Japan for India's rice bran oil, according to local sources.The whole rice bran oil industry, including paddy farmers, rice millers and exporters have cheered with the government's decision."Japan has always been keen to lift rice bran oil from India, but due to the ban we were not able to export the oil in bulk form. Now that the ban is removed, it will be easier for us to export the oil to the country," the Chairman of one of the India's leading rice bran oil producer was quoted.
India can export up to 50,000 tons of rice bran oil annually, according to industry estimates.Local sources noted that the government approved bulk rice bran oil exports despite India being a major importer of edible oils in order to help paddy farmers and small rice millers better price as demand for the product is still very low domestically.The government of India banned edible oil exports since March 17, 2008 but has been allowing certain exemptions from time to time, according to local sources
Bangladesh Rice Farmers Avoiding Hybrid Rice Cultivation Due to High Production Costs, Low Prices
Jul 23, 2015
Bangladesh rice farmers are denying to cultivate hybrid rice this year despite the Agriculture Ministry encouraging them to increase planting of hybrid rice, according to local sources.
Some farmers told reporters that cost of producing hybrid rice is very high (about 10-15% higher than normal varieties) but prices they receive are very low. They also noted that consumers are unwilling to buy hybrid rice.
Agriculture Ministry officials said though farmers have to spend more on buying seeds, fertilizers and pesticides as well as irrigation to grow hybrid rice, growing hybrid rice is the only means of boosting rice production in the country. The Additional Secretary of the Agriculture Ministry noted that ignorance about cultivation techniques, lack of demand for hybrid rice and its low price are hindering the expansion of hybrid rice acreage in the country. Bangladesh farmers have been planting about 10,000 tons of hybrid rice seeds in about 700,000 hectares of land every year for the last few years, he said.
The Department of Agriculture Extension (DAE) under the Agriculture Ministry, usually promotes hybrid rice cultivation in all the three Aman, Aus and Boro seasons. According to the DAE statistics, in 2014-15 Boro season (January-May), the country’s hybrid rice acreage increased to about 753,000 hectares from around 614,000 hectares last year. In 2014-15 Aman season (July-December), it increased to around 51,000 hectares from 23,000 hectares in the previous years. 2014-15 Aus season's (February-August) hybrid rice acreage increased to around 50,000 hectares from around 31,000 hectares last year.
The DAE Additional Director said the government has been attaching great importance to hybrid rice cultivation to boost production. He also noted that since local companies have started breeding seeds locally, prices maBangladesh estimates to produce around 35.328 million tons of rice in the FY 2014-15 (July - June).USDA estimates Bangladesh’s MY 2015-16 (July 2015 – June 2016) milled rice production at around 35 million tons, slightly up 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.
Thailand Rice Sellers Lower Some of Their Quotes Today; Other Asia Quotes Unchanged
Jul 23, 2015
Thailand rice sellers lowered their quotes for 25% broken rice by about $5 per ton each to around $355-$365 per ton. Other Asia rice sellers kept their quotes mostly unchanged.
5% Broken Rice
Thailand 5% rice is indicated at around $380 - $390 per ton, down about $5 per ton from yesterday and about $35 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.
25% Broken Rice
Thailand 25% rice is shown at around $355 - $365 per ton, down about $5 per ton from yesterday and about $30 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 - $340per ton.
Parboiled Rice
Thailand parboiled rice is indicated at around $390 - $400 per ton. India parboiled rice is indicated at around $380- $390 per ton, about $35 per ton discount to Pakistan parboiled rice was last shown at around $415 - $425 per ton.
100% Broken Rice
Thailand broken rice, A1 Super, is indicated at around $320 - $330 per ton, about $5 per ton from premium on Vietnam 100% broken rice shown at around $315 - $325 per ton. India's 100% broken rice is shown at around $305 - $315 per ton, about $20 per ton premium on Pakistan broken sortexed rice shown at around $285 - $295 per ton.
Philippines Assessing Need for More Rice Imports, Says Central Bank Official
Jul 23, 2015
The government of the Philippines is studying the demand and supply conditions of rice in the country to assess the need for more rice imports this year amid concerns of an intensifying El Nino, Reuters quoted the Director of the Department of Economic Research at the Bangko Sentral ng Pilipinas (BSP).The official is one of the Central Bank's representatives to the National Food Authority Council, that approves rice imports in the country.
The state weather forecaster PAGASA stated that dry conditions associated with the El Nino phenomenon are likely to intensify from October to December this year and further stretch into the first quarter of 2016.The Central Bank official noted that though the option of importing rice is always open, the government is drawing plans to mitigate the impact of El Nino on rice production. He added that they are expecting the production to be sufficient until fourth quarter.
The NFA has decided to import 750,000 tons of rice (200,000 tons from Thailand and 550,000 tons from Vietnam) under government-to-government deals in 2015 to ensure adequate stocks in the lean season (June – September). It has also allowed private traders to import around 805,200 tons of 25% broken rice at 35% tariff under the WTO Minimum Access Volume (MAV) country specific quota (CSQ) before November 30, 2015.
It is authorized to import another 250,000 tons if a drought induced by El Nino intensifies and hurts local rice production.Separately, the NFA Administrator noted that a Food Security Committee comprising of representatives from the National Economic and Development authority (NEDA) has guaranteed exact inputs on the amounts of rice that need to be imported. He also noted that the agency is coming up with schemes to combat high rice prices.
U.S. Expands Rice Import Phytosanitary Safeguards to Defend Against Khapra Beetle
Jul 23, 2015
The United States Agriculture Department’s Animal and Plant Health Inspection Service (USDA’s APHIS) has published a new rule restricting entry of certain commodities from countries where the Khapra beetle (Trogoderma granarium) is known to exist.
The new rule is said to be final and is effective from July 21, 2015. Under the final rule, commercial shipments of rice, soybeans, cicer species (chickpeas) and safflower seeds originating from countries where Khapra beetle is known to occur must be inspected and accompanied by a phytosanitary certificate with an additional declaration stating that the shipment has been inspected and found free of Khapra beetle. Also, the entry of rice, chick peas, safflower seeds, and soybeans in passenger baggage and personal effects is prohibited.
The rule has also added new countries such as countries Kuwait, Oman, Qatar, the United Arab Emirates (U.A.E.), and South Sudan, and the Palestinian Authority, West Bank to the regulated countries or areas.
While the new rule may be unlikely to impact imports of rice into the U.S., because the khapra beetle restrictions on rice imports have been in place since July 2012, and also the U.S. does not import much of rice from the newly added countries. Industry experts say the move may be an effort to close any potential trade flow loop holes such as rice from India or Pakistan being re-exported from the U.A.E. to the U.S.
Vietnam Converts 78,375 Hectares of Rice Area to Higher Value Crops
Jul 23, 2015
Vietnam's Ministry of Agriculture and Rural Development (MARD) has converted around 78,375 hectares of rice area in the Mekong Delta into higher value crops such as vegetables and maize under a two-year agricultural restructuring project, according to local sources.
Vietnam has for last few decades focused intensively on rice production. Used of modern farming tools and high-yielding varieties have increased the country’s annual paddy rice production from around 37 million tons some years ago to around 45 million tons. Vietnam exports around one fourth of its milled rice production and is the world's third largest rice exporter.
However, of late, demand for Vietnamese rice has been declining with the emergence of newer exporters such as Cambodia and Myanmar apart from already existing competitors such as Thailand and India. Therefore rice supply is more than the demand. Also a low demand from Vietnam's traditional importers such as Singapore, China and the Philippines has also become a concern.
In order to address this issue, the MARD has started the agriculture restructuring program two years back. MARD officials told local sources that the plan has helped the country produce more of vegetables and maize and increase inputs for livestock feed production. It also noted that crop rotation has helped reduce diseases and insects in rice crops.
This year, the MARD is planning to convert another 87 hectares of rice area in the Mekong Delta to vegetable, maize and fruit crops. By 2020, it aims to convert a total of 700,000 - 800,000 hectares of rice land in the country. It is also encouraging farmers in Northern and Central regions and the Central Highlands to shift from low yield rice into other crops from now until 2020.
USDA estimates the current rice area in Vietnam at around 7.66 million hectares.
Meanwhile, the demand for corn for animal feed has been increasing in the country, so domestic production has been ramping up. In a recent report, USDA Post estimated Vietnam's MY 2015-16 (May-April) corn imports to decline to around 1.8 million tons from an estimated 2 million tons in MY 2014-15 due to expected higher local corn production and carry-over stocks from MY 2013-2014. The demand for feed and residual in MY 2015-16 is expected to increase to around 5.9 million tons from an estimated 5.3 million tons last year. Production is expected to increase to around 5.98 million tons in MY 2015-16 from an estimated 5.625 million tons last year.
Global Rice Quotes
July 23rd, 2015
Long grain white rice - high quality
Thailand 100% B grade 390-400 ↔
Vietnam 5% broken 345-355 ↔
India 5% broken 385-395 ↔
Pakistan 5% broken 370-380 ↔
Myanmar 5% broken 400-410 ↔
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 355-365 ↓
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 390-400 ↔
Pakistan parboiled 5% broken stxd 415-425 ↔
India parboiled 5% broken stxd 380-390 ↔
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% 855-865 ↔
Vietnam Jasmine 485-495 ↔
India basmati 2% broken NQ ↔
Pakistan basmati 2% broken NQ ↔
Cambodia Phka Mails 835-845 ↔
Brokens
Thailand A1 Super 320-320 ↔
Vietnam 100% broken 315-325 ↔
Pakistan 100% broken stxd 285-295 ↔
Cambodia A1 Super 350-360 ↔
India 100% broken stxd 305-315 ↔
Egypt medium grain brokens NQ ↔
U.S. pet food 325-335 ↔
Brazil half grain NQ ↔
All prices USD per ton, FOB vessel, oryza.com
Oryza Overnight Recap – Chicago Rough Rice Futures Move Higher in Attempt to Test Technical Resistance at $11.180
Jul 23, 2015
Chicago rough rice futures for Sep delivery are currently seen trading 5.5 cents per cwt (about $1 per ton) higher at $11.175 per cwt (about $246 per ton) during early floor trading in Chicago. The other grains are seen trading mostly lower this morning; soybeans are currently seen trading about 0.6% lower, wheat is listed about 1.4% higher and corn is currently noted about 0.2% lower.
U.S. stocks opened mixed on Thursday as investors focused on a slew of mostly lackluster earnings reports. In economic news, weekly jobless claims came in at 255,000, their lowest level since 1973. While analysts said the low figure may keep a rate hike on the table for this year, they were cautious about reading too much into a figure that may be exaggerated by seasonal production changes. The Dow Jones Industrial Average traded down 13 points, or 0.07$, at 17,836. The S&P 500 traded up 1 point, or 0.06%, at 2,115, with consumer discretionary leading five sectors higher and utilities leading decliners. The Nasdaq traded up 9 points, or 0.17%, at 5,180. Gold is currently trading about 0.4% higher, crude oil is seen trading about 0.7% higher, and the U.S. dollar is currently trading about 0.4% lower at 9:00am Chicago time.
Three sides to complement a Middle Eastern meal
With three locations to better serve our customers, our one-stop butcher shop offers lamb, goat, beef and poultry, as well as other products for the grill, including our signature skewers and spicy merguez sausage.
For the chef at home, Almarwa is happy to share the following flavourful recipes for side dishes that complement our meat, and that complete a tasty Middle Eastern meal your family won’t soon forget:
Cumin-Spiced Potatoes
Boil four medium-sized potatoes and cook until they can be lightly penetrated with a fork. In the meantime, while the potatoes cool, place a skillet on medium heat and add four tablespoons olive oil.
Sauté a quarter cup chopped onion until soft. Add potatoes, a teaspoon of cumin, three tablespoons lemon juice, and salt and pepper to taste. Cook until crispy and garnish with freshly chopped parsley.
Fatoush Salad
Cube tomatoes and cucumber and combine in a bowl. Add finely sliced scallions and minced garlic. Mix in a handful of freshly chopped parsley and a few sprigs of mint and set aside.
Rub some pita bread with olive oil and sprinkle with sumac. Toast or grill the bread until crispy. Cut into small pieces and mix into salad. Lightly dress the salad with olive oil and lemon (three parts oil to one part acid), and season with salt and pepper.
Fragrant Rice
In a skillet, heat one tablespoon black peppercorn, two teaspoons whole allspice and whole cloves, and a stick of cinnamon until fragrant. Set aside to cool before pulverizing the spices into a powder using a grinder. Meanwhile, toast one cup of slivered almonds in a frying pan until golden.
In a pot, place two cups of basmati rice with some olive oil and mix in the spice powder to coat. Heat until the rice is slightly toasted. Pour in three and half cups of water and boil. Reduce heat and cover rice until tender and water is absorbed – about 30 minutes. Transfer to a serving dish and garnish with freshly chopped parsley and almonds.
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