Brazil Rice Stocks Decline
Slightly to 124,785 Tons in July 2015
Aug
10, 2015
Brazil rice stocks stood at around 124,785 tons in July 2015, slightly down
from around 127,970 tons in June 2015 and down about 77% from around 539,731 tons
in July 2014, according to the country's national grain supplying agency Conab.
According to Conab, rice stocks with the Selling Option Contract of
Agricultural Products (OPCAO) declined slightly to around 72,558 tons from last
month's level of around 75,732 tons. Rice stocks with the Federal Government
Acquisition (AGF) remained at last month's level of 52,213 tons. They were down
about 78% and 75% respectively from their year ago levels. Rice stocks with
farmers (Agricultural Familiar) stood at around 14 tons in July 2015,
down 44% from around 25 tons in June 2015 and down about 98% from around 841
tons in July 2014.
In June 2015, Brazil’s National Grains Supply Company (Conab) has
forecasted the country's 2014-15 paddy rice production at around 12.544 million
tons (around 8.53 million tons, basis milled), up about 3.5% from around 12.121
million tons (around 8.24 million tons, basis milled) in 2013-14, and slightly
up from its May forecast of around 12.399 million tons.
Guinea's Ability to Import Rice
Impacted by Ebola Outbreak, Says FAO
Aug
10, 2015
The UN's Food and Agricultural Organization (FAO) forecasts Guinea's 2015
rice import requirements at around 320,000 tons. The FAO says Guinea's
commercial rice imports have been stable at around 300,000 tons since 2013. The
UN agency says the government needs additional resources and international
assistance to fulfil the import of remaining 20,000 tons.
The FAO reports that the country's significant impact of Ebola on export
earnings last year (2014) has compromised the country's ability to import more
rice.
The UN agency says trade flows have improved over last year as all
neighboring countries, including Senegal, Liberia, Sierra Leone and
Guinea-Bissau, which closed borders with Guinea, have reopened their borders.
The FAO forecasts Guinea's 2015 paddy rice production at around 2 million
tons, up about 2% from around 1.97 million tons in 2014. Planting of rice is on
the verge of conclusion. Favorable weather conditions in most of the regions has
reportedly supported planting operations.
Price of local and imported rice remained almost stable in recent months,
according to the FAO.
FAO Estimates Liberia 2015 Rice
Import Needs at 350,000 Tons
Aug
10, 2015
The UN's Food and Agricultural Organization (FAO) estimates Liberia's 2015
rice import needs at around 350,000 tons. However, the rice import requirement
is above the normal rice import volume. But since the Ebola Virus Disease (EVD)
has severely impacted the country's export earnings, it is not in a position to
spend for the extra imports. Therefore, the FAO expects Liberia to seek
international assistance to finance the new imports.
The FAO says planting for the 2015 paddy crop is almost complete. Timely
and well-spread rains since the beginning of the cropping season have
reportedly supported sowing activities and satisfactory crop development.
EVD, which lowered Liberia's milled rice production by about 12% y/y in
2014, has been largely controlled and the World Health Organization (WHO) declared
Liberia as Ebola-free on May 9, 2015. Therefore the, FAO is expecting rice
production to improve in 2015.
Prices of local and imported rice have remained mostly stable in recent
months, according to the FAO.
Cambodia Rice Exports Increase
Sharply in First Seven Months of 2015
Aug
10, 2015
Cambodia has exported around 312,317
tons of milled rice in the first seven months of 2015, up about 53% from around
204,128 tons exported during the same period last year, Khmer Times quoted data
from the Secretariat of One Window Service for Rice Export Formality.About 72
Cambodian rice exporters shipped milled rice to about 53 countries, including
26 European Union (EU) nations (193,903 tons); ASEAN member countries such as
Malaysia, Indonesia and Singapore (34,099 tons); and to other countries and
regions such as China, Hong Kong, Australia, the U.S., Taiwan, and Canada
(84,315 tons).
In July 2015, Cambodia exported
around 28,492 tons of milled rice, up about 28% from around 22,259 tons in June
2015.
The government of Cambodia aimed to
increase rice exports to one million tons in 2015 but noted that that it is unlikely
to achieve the target due to inadequate milling facilities and infrastructure
as well as lack of access to funding.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.
Bulog Chief Rules Out Rice
Imports in 2015
Aug
10, 2015
Indonesia is unlikely to import any
rice in 2015, Reuters quoted the Chief of state logistics agency Bulog as
saying.The agency's President Director told reporters that Bulog currently has
1.5 million tons of rice. He added that the agency purchased about 1.85 million
tons of rice from domestic suppliers in 2015. The procured quantity of rice is
reportedly lower than the targeted 4 million tons.The Bulog Chief noted that
delays in this year's rice planting operations due to drought-inducing El Nino
weather pattern may prompt the government to import rice in early 2016.
The government of Indonesia is
planning to increase 2015 paddy rice output by about 7% to around 75.2 million
tons from around 70 million tons in 2014. The Agriculture Minister noted that
the government is taking all measures to achieve the desired output and imports
would be the last option.However, Bollmberg quoted the Trade Minister as saying
that the government would assess impact of drought on food production, including
rice, before deciding on imports.
The Agriculture Minister added that
the government would work with the National Disaster Mitigation Agency (BNPB)
and military to create artificial rain in some rice growing regions such as
Java and southern Sumatra. He noted that the government has already distributed
21,000 water pumps and fixed irrigation system for 1.3 million hectares of farm
land. He confirmed that drought had damaged rice harvest in 20,000 hectares
while 76% of the 2015 crop harvest is
complete
so far. He also reiterated that his Ministry would monitor weather impact
during the harvest time from September to December.
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). Some analysts are forecasting
imports to reach about 1.6 million tons.
Asia Rice Quotes Mostly
Unchanged Today
Aug
10, 2015
Myanmar rice sellers increased their quotes for 5% broken rice by about $5
per ton to around $405-$415 per ton today. Other Asia rice sellers kept their
quotes mostly unchanged today.
5% Broken Rice
Thailand 5% rice is indicated at around $365 - $375 per ton,
about $25 per ton premium on Vietnam 5% rice shown at around $340 - $350 per
ton. India 5% rice is indicated at around $385 - $395 per ton, about $45 per
ton premium on Pakistan 5% rice shown at around $340 - $350 per ton.
25% Broken Rice
Thailand 25% rice is shown at around $350 - $360 per ton, about $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 $40 per ton premium on Pakistan 25%
rice shown at around $310 - $320 per ton.
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 $40 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 $10 per ton from premium on Vietnam 100% broken rice shown at around $310
- $320 per ton. India's 100% broken rice is shown at around $305 - $315 per
ton, about $25 per ton premium on Pakistan broken sortexed rice shown at
around $280 - $290 per ton.
China Agrees to Buy One Million
Tons of Rice from Thailand under G2G Deal, Says Thai Commerce Ministry
Aug
10, 2015
China has agreed to buy one million tons of rice from Thailand under a
government-to-government (G2G) deal before this year-end, Reuters quoted the
Thai Commerce Ministry sources. The Thai Commerce Minister, who visited
China last week, told reporters that China would buy the rice at market prices
and th sale would involve Thai 5% broken rice, Thai jasmine rice and Thai Hom
Mali rice.
He also noted that the sale is part of a December 2014 memorandum of
understanding (MoU) (that China signed with Thailand in December 2014) to buy 2
million tons of rice this year. He added that negotiations for the sale of
remaining one million tons of rice would begin this September.The development
is a good news to the Thai military government, which still holds over 14.5
million tons of rice in its stockpiles.
Meanwhile, the government spokesperson told local sources that Thailand
would remain the world's top rice exporter in 2015 in terms of tonnage and
value despite a general decline in global economic growth. He expressed
optimism that Thai rice exports would surge in the second half of 2015 on
concerns of a decline in production in several countries due to persisting
drought conditions. He noted that Thailand exported around 4.46 million tons of
rice in the first six months of 2015, while India exported around 4.26 million
tons during the same period.
Global Rice Quotes
August
11th, 2015
Long grain white rice - high quality
Thailand
100% B grade 375-385 ↔
Vietnam
5% broken 340-350 ↔
India
5% broken 385-395 ↔
Pakistan
5% broken 340-350 ↔
Myanmar
5% broken 405-415 ↔
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 310-320 ↔
Cambodia
25% broken 410-420 ↔
India
25% broken 345-355 ↓
U.S.
15% broken 445-455 ↔
Long grain parboiled rice
Thailand
parboiled 100% stxd 375-385 ↔
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% 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 310-320 ↔
Pakistan
100% broken stxd 280-290 ↔
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
Myanmar May Consider Rice Imports
In Case of Severe Weather Conditions, Say MRF Officials
Aug
10, 2015
Myanmar is likely to import rice in
case unexpectedly severe weather conditions in the coming months, local sources
quoted the Myanmar Rice Federation (MRF) officials.Recent floods in the
northern Myanmar have led to concerns of a decline in production as well as an
increase in prices. Last week, MRF had decided to suspend rice exports until
September 15, 2015, when harvested rice from the on-going crop is expected to
reach markets, in order to ensure sufficient stocks and control price hikes in
the country.The MRF President told local sources that the current stocks are
adequate and will be replenished in September after the harvest. “To stop an
increase in the rice price, we have decided to halt exports and have begun
selling rice bags directly to the flooded area,” he was quoted. He added that
the government would import rice in case of unexpectedly severe weather
conditions in the coming months.
Of the 16 million acres (around 2.56
million hectares) planted in the northern regions, around 1.5 million acres
(around 240,000 hectares) of rice area has been affected, according to the MRF
officials. The MRF Secretary noted that around 200,000 acres (around 32,000
hectares) is beyond recovery.
Domestic rice prices have increased
significantly in flood-affected areas. Prices have increased to almost K100,000
per a bag of 108 pounds (around $1,638 per ton). According to the UN'S Food and
Agriculture Organization (FAO) data, average domestic rice prices in the
country were in the range of K420,000 per ton (around $390) in the beginning of
August.
The MRF has reportedly opened
wholesale counters in the flood-affected areas as part of efforts to control
price hikes.Myanmar is a net exporter of rice and its exports have been
increasing consistently for the past few years. Myanmar exported around 1.8
million tons of rice in 2014. The MRF expects a paddy output of around 14
million tons (around 8.96 million tons, basis milled) in 2015. The government
has been targeting to export around 2 million tons of rice this year after
exporting about 1.8 million tons of rice in FY 2014-15.USDA estimates Myanmar
to produce 20 million tons of paddy rice (around 12.8 million tons, milled
basis) and export around 2.2 million tons of rice in MY 2015-16 (January -
December 2015).
Oryza Afternoon Recap - Chicago
Rough Rice Futures Rally on Support from Sharply Higher Grains
Aug
10, 2015
Chicago rough rice futures for Sep
delivery settled 43 cent per cwt (about $9 per ton) higher at $11.860 per cwt
(about $261 per ton). The other grains rallied as well today; Soybeans closed
about 3.2% higher at $9.9425 per bushel; wheat finished about 2.9% higher at
$5.2525 per bushel, and corn finished the day about 4.5% higher at $4.0100 per
bushel.
U.S. stocks rallied more than 1% on
Monday, rebounding from sharp declines last week, as oil's rise from
multi-month lows and a Warren Buffett acquisition boosted sentiment. Mostly
disappointing data out of China initially weighed on oil prices. Chinese
exports fell 8.3% in July, their largest decline in 4 months, while the
regional producer price index fell more than expected. The Shanghai composite
surged nearly 5% to a two-week high amid hopes of further stimulus and
corporate restructuring in key sectors.
The Hang Seng closed mildly lower.
Investors also focused on remarks by Federal Reserve members for further
indications on the timing of a rate hike. Economic conditions in the United
States have largely returned to normal and a Federal Reserve decision to raise
interest rates should come soon, the Atlanta Fed's Dennis Lockhart said in a
Reuters report Monday. The Dow Jones Industrial Average traded up 234 points,
or 1.35%, at 17,607. The S&P 500 traded up 26 points, or 1.23%, at 2,103,
with energy leading nine sectors higher and utilities the only laggard.
The Nasdaq traded up 60 points, or
1.21%, at 5,104. Gold is trading about 0.9% higher, crude oil is seen trading
about 1.8% higher, and the U.S. dollar is seen trading about 0.4% lower
about 1:15pm Chicago time.Friday, there were 468 contracts traded, down
from 2,157 contracts traded on Thursday. Open interest – the number of
contracts outstanding – on Friday decreased by 52 contracts to 9,980.
Vietnam Exports 3.301 Million
Tons of Rice in First Seven Months of 2015
Aug
10, 2015
Vietnam exported around 3.301
million tons of rice in first seven months of calendar year 2015, down about 9%
from about 3.631 million tons of rice exported during same time last year,
according to data from the Vietnam Food Association (VFA). Average rice export
price so far in this year stands at about $414 per ton (FOB), down about 4% per
ton from about $431 per ton recorded during same last year.
In July 2015, Vietnam exported
around 589,323 tons of rice, down about 4% from about 615,844 tons rice
exported in July 2014, and down about 7% from around 632,010 tons rice exported
in June 2015. Average export prices in July 2015 stands at around $400
per ton, down about 7% from a year ago, and down about 1.5% per ton from a
month ago.
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