Japan May Propose to Set
Tariff-Free Import Quota for U.S. Rice at 70,000 Tons Under TPP
Jul
29, 2015
Japan is planning to propose a 70,000 ton tariff-free rice import quota for
the U.S. as part of efforts to push forward the Trans-Pacific Partnership (TPP)
negotiations that have been stalled due to a impasse between the U.S. and Japan
over access to Japan's rice market and U.S. tariffs on automotive parts,
according to local sources.Japan is likely to put forth its plans in a
four-day ministerial meeting of the 12 countries, also including Brunei,
Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, that
began on July 28, 2015 in Hawaii.
The U.S. has been demanding that Japan increase the U.S. quota to 175,000
tons. However, Japan may not honor the U.S. request in order to protect its
rice sector from foreign competition. It is planning to initially set the quota
at 50,000 tons and gradually increase it to 70,000 tons over the next decade.
Local sources noted that Japan may not necessarily adhere to the import quota
every year, but its imports may depend on the domestic demand.
Meanwhile, Australia is also reportedly seeking an increase in its import
quota. Japan may propose to set the Australian target at 12% of the U.S. quota.
Both U.S. and Australia quotas may be together set at 80,000 tons, according to
local sources.
Currently, Japan imports about 770,000 tons of rice under the annual
minimum market access (MMA) quota as per the World Trade Organization (WTO)
obligations. The rice imports above the MMA quota carry a prohibitive import
tariff of around 778%.
USDA estimates Japan to produce around 7.7 million tons of rice and import
around 700,000 tons of rice in MY 2014-15 (November - October) to meet annual
consumption needs of around 8.2 million tons.
Thailand to Export 76,000 Tons
of Stockpiled Rice to Africa at $430 per Ton, Says TREA Official
Jul
29, 2015
The government of Thailand has
struck preliminary deals to export about 760,000 tons of stockpiled rice to
African nations, including Mozambique, Nigeria and South Africa, Reuters quoted
the Honorary President of the Thailand Rice Exporters Association (TREA).He
noted that African nations mostly buy parboiled rice and the Thai government is
likely to begin shipments from September this year.
The TREA official also noted that
rice would be sold at around $430 per ton raising a total of around $325
million.The Thai military government still has around 14.5 million tons of rice
in its stockpiles and it is planning to sell about 10 million tons this year.
The government had over 17 million tons of rice when it took over in May 2014.
It sold a total of 3.88 million tons of rice in eight auction for around 40.90
billion baht ($1.2 billion) since it took over in May 2014.The government is
planning to hold another auction this month. It is also considering to auction
about 1.29 million tons of sub-standard rice in August.
Cambodian Commerce Ministry to
Invest $450,000 in Rice Sector to Boost Exports
Jul
29, 2015
Cambodia's Commerce Ministry has
agreed to invest about $450,000 as a one time seed capital in the country's
rice sector to help boost exports, local sources quoted an official from the
Cambodian Rice Federation (CRF).The CRF official told reporters that the
Ministry has signed a memorandum of understanding (MoU) with the CRF, which
comprises of farmers, millers and exporters, as part of efforts to increase
rice exports of the country. He added that the funds will be used for promoting
exports through overseas exhibitions, government-to-government (G2G)
discussions as well as local infrastructure
development.
development.
The official also noted that the
federation would receive the funds after sending a detailed plan of their
proposed use.Cambodian exports are said to be severely impacted to lack of
adequate milling, storing and transportation facilities. The government aimed
to export about one million tons of rice this year, but has specified that it
may not be able to meet the target to the above reasons. It is reportedly
planning to export around 60,000 tons this year.Cambodia has exported around
283,825 tons of milled rice in the first six months of 2015, up about 60% from
around 177,928 tons exported during the same period last year. Cambodia
exported about 387,100 tons of rice in 2014.
USDA estimates Cambodia to export 1.1 million tons of rice (including
official and unofficial exports to Vietnam and Thailand through borders) in
2015, up about 10% from an estimated 1 million tons in 2014.
Global Rice Quotes
July
29th, 2015
Long grain white rice - high quality
Thailand
100% B grade 380-390 ↔
Vietnam
5% broken 345-355 ↔
India
5% broken 385-395 ↔
Pakistan
5% broken 360-370 ↓
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 350-360 ↔
Vietnam
25% broken 325-335 ↔
Pakistan
25% broken 320-330 ↓
Cambodia
25% broken 410-420 ↔
India
25% broken 350-360 ↔
U.S.
15% broken 445-455 ↔
Long grain parboiled rice
Thailand
parboiled 100% stxd 380-390 ↔
Pakistan
parboiled 5% broken stxd 415-425 ↔
India
parboiled 5% broken stxd 375-385 ↔
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% 865-875 ↔
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
FAO Forecasts Vietnam's 2015
Rice Exports to Fall Below 2014 Level
Jul
29, 2015
Planting of the 2015 summer-autumn
season paddy crop is almost complete. Below-average rainfall and high
temperatures between April and July have reportedly delayed planting
operations. As of mid-June around 1.9 million hectares have been planted, down
about 6% from last year. Around 2.7 million hectares was sown to summer-autumn
crop in 2014. Planting for the 2015 10th Month (winter) season rice crop has
just started and will continue till October. The FAO estimates the
output from the 2015 main winter-spring crop, whose harvesting completed in June,
at around 20.7 million tons (around 13.35 million tons, basis milled), almost
similar to 2014. It accounts for about 46% of the country's total paddy
production. Summer-autumn crop and 10th Month (winter) seasons account for 32%
and 22% respectively.
Wholesale rice prices of rice in Vietnam declined slightly in the first two
weeks of July due to increased supplies from the recently-harvested 2015
winter-spring crop as well as weak export demand. Overall the prices were below
their year-ago levels. USDA estimates Vietnam to produce around 28 million
tons of rice, basis milled (around 45 million tons, basis paddy) and export
around 6.7 million tons in 2014-15 (January 2015 - December 2015).
Italy's Noted Literature Writer
Sebastiano Vassalli Passes Away at 74
Jul
29, 2015
Sebastiano Vassalli, one of Italy's
most representative writers, who linked Italy's rice fields and
litertature, has passed away on Jyly 27, 2015. His links with
the Italian rice world have been very deep and his passion towards the Italian
rice fields made him spent most of his time in rice fields. He was
born in Genoa and moved to Novara, when he was a child. Later, he lived in the
rice fields in the former rectory of Marangana, not very far from Novara and
Vercelli. He has been one of the most translated Italian writers
abroad. He had graduated in Italian Literature with a thesis on contemporary
art and psychoanalysis discussed with famous psychologist and psychoanalyst
Cesare Musatti; after that he became an high school teacher.
He reached fame in 1990 with his
book "La chimera", an historical novel set in the Novara countryside
of the seventeenth century. "The world of agriculture in Novara certainly
loses its most high-profile author: he was able to tell what was rice growing
sector and this land was in the sixteenth and seventeenth centuries," said
local sources. The University of Gothenburg had proposed his name as a
candidate for the Nobel Prize for Literature in 2015, but unfortunately he died
after a short incurable disease.
Government Measures Protect
102,000 Hectares of Rice Fields from Drought in Indonesia, Says Minister
Jul
29, 2015
The government of Indonesia has been
successful in protecting around 102,000 hectares of rice from drought
conditions during the period October 2014 - July 2015, local sources quoted the
Agriculture Minister as saying. The Minister noted that only 57,000 hectares of
rice lands have been impacted by drought conditions in the ten-month period,
compared to around 159,000 hectares impacted last year. He added that the
government saved around 500,000 tons of paddy worth 2 trillion Rupiah (around
$149 million) from being lost due to drought.
Yearly, around 198,000 hectares of
rice lands in the country are impacted by dry weather conditions and less water
facilities. However, this year, concerns of an El Nino weather pattern that is
associated with dry weather conditions has prompted the government to take
precautionary measures in areas that are prone to drought conditions. It
reportedly distributed some 82,000 pump sets across the country and ensured
adequate irrigation facilities in these areas.
The Director General of Water
Resources of the Public Works and Public Housing Ministry told reporters that
the government will continue to monitor the irrigation systems and impose water
rationalization if necessary. Water from the dams will be prioritized for
drinking, irrigation, and
industries, he added. Water levels in five dams in the Java region are at low levels due to the dry spell.
industries, he added. Water levels in five dams in the Java region are at low levels due to the dry spell.
USDA estimates Indonesia to produce
around 36.3 million tons of rice, basis milled (around 57.17 million tons,
basis paddy), and import around 1.25 million tons of rice in MY 2014-15
(October - September).
High Night Time Temperatures,
Bacterial Panicle Blast Threaten Arkansas Rice Production
Jul
29, 2015
High temperatures, especially in the
nights, are likely to significantly impact rice grain quality in the U.S. state
of Arkansas, Deltafarmpress quoted the Extension rice specialist at the
University of Arkansas.The scientist noted that the night temperatures have
remained at or above 75 degrees Fahrenheit at nights and this is causing a
concern on the quality of the Arkansas rice crop this year. "The past
research suggests that high night temperatures can have a significant impact on
grain quality, primarily related to chalkiness," he said.
He noted that similar weather
conditions in July and August months of 2010 and 2011 had severely impacted the
grain quality. Incidence of bacterial blight in those years also affected
yields in the state, he added.This year also, rice crop is likely to be
infested with bacterial blight conditions affecting yields. He noted that they
are expecting a yield of around 150 bushels per acre (around 10.125 tons per
hectare), down from last three years' average of around 168 bushels per acre
(around 11.34 tons per hectare).
However, he said some newer
varieties that are used this season appear to be less susceptible to bacterial
panicle blight. Precisely, varieties sown in about 60% of rice area are said to
be relatively resistant to the diseases, he said.
He also noted that high temperatures are protecting rice crops from other
diseases like sheath blight and leaf blast.
USDA estimates Arkansas total planted rice area in 2015 at around 556,000
hectares down about 3% from around 576,000 hectares from 2014. While acreage
for long-grain rice is expected to decline to around 460,000 hectares from last
year's 488,000 hectares, acreage for medium-grain rice is expected to increase
to around 96,000 hectares from around 88,000 hectares last year. Acreage for
short-grain rice is expected to remain stable at around 400 hectares. Arkansas
2015 production is estimated at to increase to around 5 million tons from last
year's 4.26 million tons, while yield is estimated to remain almost stable at
around 8.5 tons per hectare.
Oryza Afternoon Recap - Chicago
Rough Rice Futures Rally while Grains Fall on Optimal Weather
Jul
29, 2015
Chicago rough rice futures for Sep
delivery settled 22 cents per cwt (about $5 per ton) higher at $11.200 per cwt
(about $247 per ton). The other grains finished the day lower; Soybeans closed
about 0.2% lower at $9.4325 per bushel; wheat finished about 2.8% lower at
$4.9625 per bushel, and corn finished the day about 1.9% lower at $3.7825 per
bushel.
U.S. stocks traded higher Wednesday
as investors digested the Federal Reserve statement that kept rates unchanged.
The Federal Reserve kept rates unchanged and gave no hint of liftoff coming in
the next meeting. The decision on the rates was unanimous. Policymakers said
the economy is expanding moderately. The Dow Jones industrial average traded
about 100 points higher. The index initially extended gains to trade about 130
points higher after trading about 90 points lower before the statement. The
Nasdaq Composite briefly dipped into negative territory. The Federal Open
Market Committee concluded its two-day meeting in the afternoon and was
scheduled to release its statement at 2:00 p.m.
No press conference is planned. In
economic news, pending home sales came in down 1.8 percent in June from May.
Housing data so far has been mixed. Last week's new home sales report
disappointed analysts while existing home sales jumped to an 8-1/2-year high.
Ahead of the statement release, the Dow Jones Industrial Average traded up 99
points, or 0.56%, at 17,729. The S&P 500 traded up 10 points, or 0.48%, at
2,103, with telecommunications leading nine sectors higher and utilities the
only laggard. The Nasdaq traded up 6 points, or 0.13%, at 5,095. Gold is
trading about 0.1% lower, crude oil is seen trading about 1.5% higher, and the
U.S. dollar is seen trading at about 0.2% higher at about 2:00pm Chicago
time.
Tuesday, there were 437 contracts traded, down from 647 contracts traded on
Monday. Open interest – the number of contracts outstanding – on Tuesday
increased by 149 contracts to 8,697.
Oryza Overnight Recap – Chicago
Rough Rice Futures Trade Above $11.000 on Support from Firmer Beans
Jul
29, 2015
rice futures for Sep delivery are
currently seen trading 5.5 cents per cwt (about $1 per ton higher) at $11.035
per cwt (about $243 per ton) during early floor trading in Chicago. The
other grains are seen trading mixed this morning; soybeans are currently seen
trading about 0.6% higher, wheat is listed about 0.9% lower and corn is
currently noted about 0.9% lower.U.S. stocks traded in a narrow
range Wednesday as investors digested earnings and awaited the
release of the Federal Reserve statement that could shed light on the timing of
a rate hike.
The Nasdaq Composite struggled to
hold higher while the Dow Jones industrial average and S&P 500 clung to
mild gains. The Federal Open Market Committee concludes its two-day meeting in
the afternoon and is scheduled to release its statement at 2:00
p.m. No press conference is planned. In economic news, pending home sales
comes at 10:00 a.m. Housing data so far has been mixed. Last week's
new home sales report disappointed analysts while existing home sales jumped to
an 8-1/2-year high. Weekly mortgage applications barely moved for the second
week in a row, rising just 0.8%, the Mortgage Bankers Association (MBA) said.
U.S. stocks closed higher on Tuesday, breaking a 5-day losing streak, as
energy stocks surged on a recovery in oil prices.
Overseas, mainland Chinese stocks
halted a three-day decline with a 3.47% gain Wednesday. European stocks
traded flat to slightly higher. Analysts remain skeptical of full recovery in
the mainland Chinese stock market. The Dow Jones Industrial Average traded up
30 points, or 0.16%, at 17,658. The S&P 500 traded up 3 points, or 0.15%,
at 2,096, with telecommunications leading seven sectors higher and utilities
the greatest laggard. The Nasdaq traded up 3 points, or 0.05%, at 5,091. Gold
is currently trading about 0.5% lower, crude oil is seen trading about 0.8%
lower, and the U.S. dollar is currently trading unchanged
at 9:00am Chicago time.
Pakistan Rice Sellers Lower Some
of Their Quotes Today; Other Asia Rice Quotes Unchanged
Jul
29, 2015
Pakistan rice sellers lowered their quotes for 5% broken rice and 25%
broken rice by about a $10 per ton each to about $360-$370 per ton and
$320-$330 per ton respectively today. Other Asia rice sellers kept their quotes
mostly unchanged.
5% Broken Rice
5% Broken Rice
Thailand 5% rice is indicated at around $370 - $380 per ton, about a
$25 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 $25 per ton
premium on Pakistan 5% rice shown at around $360 - $370 per ton, down about a
$10 per ton from yesterday.
25% Broken Rice
Thailand 25% rice is shown at around $350 - $360 per ton, about a $25 per
ton premium on Vietnam 25% rice shown at around $325- $335 per ton.
India 25% rice is indicated at around $350 - $360, about $30 per ton
premium on Pakistan 25% rice shown at around $320 - $330per ton, down about a
$10 per ton from yesterday.
Parboiled Rice
Thailand parboiled rice is indicated at around $380 - $390 per ton.
India parboiled rice is indicated at around $375- $385 per ton, about a $40
per ton discount to Pakistan parboiled rice was last shown at around $415
- $425 per ton.
100% Broken Rice
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 a
$20 per ton premium on Pakistan broken sortexed rice shown at around $285
- $295 per ton.
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