Drought May Reduce Indonesia's Paddy Rice Output by 800,000 Tons, Says
Official
Aug 25, 2015
On-going drought
conditions are expected to reduce Indonesia's 2015 paddy rice production by
about 800,000 tons, down from an estimated 75.5 million tons, according to
Bloomberg.
The Director General
of food crops at the Agriculture Ministry told reporters that about 350,000
hectares of rice fields have been affected due to drought. About 40,000
hectares of cultivated areas
The country's
statistics agency is estimating 2015 paddy rice output to reach around 75.55
million tons (around 47.6 million tons, basis milled) in 2015. The government
is keen on achieving self-sufficiency in rice production and stop imports over
the next few years.
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.
The government of
Indonesia has so not imported any rice in this year. In 2014, it imported
around 450,000 tons last year.
Global
Rice Quotes
August 26th, 2015
Long grain white rice - high quality
Thailand 100% B grade 370-380
↔
Vietnam 5% broken 325-335
↔
India 5% broken 360-370
↔
Pakistan 5% broken 325-335
↔
Myanmar 5% broken 405-415
↔
Cambodia 5% broken 425-435
↔
U.S. 4% broken 485-495
↔
Uruguay 5% broken 535-545
↔
Argentina 5% broken 530-540
↔
Long grain white rice - low quality
Thailand 25% broken 340-350
↔
Vietnam 25% broken 315-325
↔
Pakistan 25% broken 295-305
↔
Cambodia 25% broken 410-420
↔
India 25% broken 335-345
↔
U.S. 15% broken 460-470
↔
Long grain parboiled rice
Thailand parboiled 100% stxd 365-375 ↔
Pakistan parboiled 5% broken stxd 415-425 ↔
India parboiled 5% broken stxd 355-365 ↔
U.S. parboiled 4% broken 570-580
↔
Brazil parboiled 5% broken 545-555
↔
Uruguay parboiled 5% broken NQ
↔
Long grain fragrant rice
Thailand Hommali 92% 835-845
↔
Vietnam Jasmine 455-465
↔
India basmati 2% broken NQ
↔
Pakistan basmati 2% broken NQ
↔
Cambodia Phka Mails 835-845
↔
Brokens
Thailand A1 Super 315-325
↔
Vietnam 100% broken 305-315
↔
Pakistan 100% broken stxd 280-290
↔
Cambodia A1 Super 350-360
↔
India 100% broken stxd 295-305
↔
Egypt medium grain brokens NQ
↔
U.S. pet food 335-345
↔
Brazil half grain NQ ↔
All prices USD per ton, FOB vessel, oryza.com
Asia Rice Quotes Unchanged Today
Aug 25, 2015
Asia rice sellers
kept their quotes mostly unchanged today.
5% Broken Rice
Thailand 5% rice is
indicated at around $360 - $370 per ton, about $35 per ton premium on Vietnam
5% rice shown at around $325 - $335 per ton. India 5% rice is indicated at
around $360 - $370 per ton, about $35 per ton premium on Pakistan 5% rice shown
at around $325 - $335 per ton.
25% Broken Rice
Thailand 25% rice is
shown at around $340 - $350 per ton, about $25 per ton premium on Vietnam 25%
rice shown at around $315- $325 per ton. India 25% rice is indicated at around
$335 - $345 per ton, about $40 per ton premium on Pakistan 25% rice shown at
around $295 - $305 per ton.
Parboiled Rice
Thailand parboiled
rice is indicated at around $365 - $375 per ton. India parboiled rice is
indicated at around $355- $365 per ton, about $60 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 $315 - $325 per ton, about $10 per ton
from premium on Vietnam 100% broken rice shown at around $305 - $315 per ton.
India's 100% broken rice is shown at around $295 - $305 per ton, about $15 per
ton premium on Pakistan broken sortexed rice shown at around $280 - $290
per ton.
Choosing Right Varieties Can Help Sustain Rice Yields in India Amid El Nino
Concerns, Say Experts
Aug 25, 2015
Experts have noted
that delayed planting and unevenly distributed rains across the country are
likely to hamper the 2015-16 rice production though the on-going kharif rice
acreage is ahead of last year as on August 21, 2015, according to local
sources.
Total rice planted
area stood at around 33.36 million hectares as of August 21, 2015, up about 4%
from around 33.21 million hectares planted during the same time last year.
However, according to data from the Agriculture Ministry, planting has been
lagging from normal acreage (by this time of the year) in the states of
Chhattisgarh, West Bengal and Odisha by around 5.6%, 19% and 27.5%
respectively. Overall, the kharif rice planting area is lagging behind the
normal by about 14% from the normal area of around 38.83 million
hectares.
Meanwhile, the
Indian Meteorological Department (IMD) has forecast a 16% deficit in the
rainfall during the second half (August-September) of the monsoon season
(June-September). The weather bureau forecasts August to receive 10% deficit
rainfall and a higher deficit in September. The south-west monsoon is deficient
by about 10% between June 1 and August 24 due to the El Nino pattern, according
to the IMD.
“Absolute rainfall
may look good but distribution and frequency is important since sufficient
water availability is important for paddy cultivation," the Director of
the Central Rice Research Institute (CRRI) told local sources. He stated that
transplanting has been delayed in several places due to uneven rains though
there is no estimate of how much area has been sown late. He noted that in such
a situation, choosing right varieties could help sustain yields. Sowing is
expected to continue till September 1, 2015.
Experts are not
expecting a significant production drop despite deficient rains in Andhra
Pradesh, Telangana and Karnataka as excessive rains and consequent increase in
acreage may compensate the shortfall.
Kuwait to Provide $13.6 Million Financial Assistance to Chad Rice Sector
Aug 25, 2015
The Kuwait Fund for
Arab Economic Development (KFAED) has signed an agreement with the government
of Chad to provide about 4 million Kuwaiti Dinars (around $13.6 million) to
help boost rice production in Chad, according to local sources.
The financial
assistance from Kuwait will be specifically used to support the Rice Production
Development Project in the Plain of Chari-Logone by constructing about 10 water
irrigation schemes. The Project aims to help irrigate about 400 hectares of
rice land in the Chari-Logone and thereby help increase rice production,
improve farmers' incomes as well as support the government's food security
strategy.
The loan from the
KFAED will cover about 80.3% of the total cost of the project and the remaining
shall be borne by the government of Chad, according to local sources. The loan
bears an interest rate of 1.5% per annum and has to be repaid in 44 semi-annual
instalments.
The KFAED had
earlier provided four loans of around 12.3 million Kuwaiti Dinars (around
$41.82 million) to the Chad government to improve agriculture.
Chad's Minister of
Planning and International Cooperation and the Deputy Director-General of KFAED
reportedly signed the loan agreement.
According to USDA,
Chad produced about 114,000 tons of milled rice and imported around 30,000 tons
in 2013-14 (October - Spetember) to meet a consumption demand of around 144,000
tons.
Oryza
Afternoon Recap - Chicago Rough Rice Futures Remain Under Pressure as Corn and
Wheat Turn Negative
Aug 25, 2015
Chicago rough rice
futures for Nov delivery settled 5.5 cents per cwt (about $1 per ton) lower at
$11.625 per cwt (about $256 per ton). The other grains finished the day with
mixed results; Soybeans closed about 0.4% higher at $8.7775 per bushel; wheat
finished about 1.7% lower at $4.9950 per bushel, and corn finished the day
about 0.9% lower at $3.7700 per bushel.
U.S. stocks jumped
about 1% or more on Tuesday, attempting a bounce after the Dow's worst
three-day point drop in history, as a recovery in oil prices and overnight
easing in China helped investor sentiment. The major averages more than halved
losses after rebounding in morning trade, with the Dow up only about 200 points
after earlier gaining as much as 441 points. The S&P 500 also pared gains
to dip in and out of correction territory. However, the gains fell short of
recouping Monday's more-than-3.5% plunge and the Dow remains on pace for its
biggest monthly percentage loss since February 2009 and the Nasdaq since 2008.
The S&P 500 is
on track for its largest percentage loss since May 2010. U.S. stock index
futures extended gains after the Chinese central bank announced plans early in
the morning ET to cut its one year lending rate to 4.6%, which the People's
Bank of China said was provide long-term liquidity and help support the
economy. Housing data out Tuesday missed expectations slightly but continued to
indicate strength in the market. New home sales figures for July came in at an
annual rate at 507,000. The Case-Shiller home price indices for June showing
home prices rose less than expected.
The Dow Jones
Industrial Average traded up 345 points, or 2.18%, at 16,216. The S&P 500
traded up 43 points, or 2.25%, at 1,935, with information technology leading
all 10 sectors except utilities higher. Consumer discretionary and health care
are the only sectors positive year-to-date. The Nasdaq traded up 150 points, or
3.32%, at 4,676. The iShares Nasdaq Biotechnology ETF (IBB) gained more than 4
percent. Gold is trading about 1.2% lower, crude oil is seen trading about 1.9%
higher, and the U.S. dollar is seen trading about 1.2% higher about
2:45pm Chicago time.
Monday, there were
2,612 contracts traded, up from 2,026 contracts traded on Friday. Open interest
– the number of contracts outstanding – on Monday decreased by 33 contracts to
10,794.
Philippines Fixes 2016 Paddy Rice Production Target at 20.09 Million Tons;
Imports Not Ruled Out
Aug 25, 2015
The Philippines is
aiming to produce about 20.09 million tons of paddy rice in 2016, up about 6.5%
from an estimated 18.86 million tons this year, according to Reuters.
The country is
likely to miss its target of 20 million tons this year due to extended drought
conditions. The Philippine Statistics Agency (PSA) estimates the country's 2015
paddy output at around 18.86 million tons, about 6% below the targeted 20.08
million tons and slightly down from last year's output of 18.97 million tons.
The Food Security
Chief told reporters that the government is finalizing plans to buy an
additional 250,000 tons of rice before the end of this year. It is also
reviewing the latest production forecast for 2015 to assess the need to import
more rice in case the El Niño intensifies.
The Agriculture
Secretary hinted at the need for importing rice in the beginning of 2016 to
ensure adequate stocks during the lean season (July - September).
The National Food
Authority (NFA) has already imported 750,000 tons of rice (200,000 tons from
Thailand and 550,000 tons from Vietnam) under government-to-government deals to
ensure adequate stocks in the lean season (June – September). It has also
allowed the private traders to import 805,200 tons of rice under the WTO
minimum access volume (MAV) rule. The NFA is still authorized to import another
250,000 tons in case of adverse weather conditions.
Spanish Paddy and Rice Quotes Remain Stable in First Week of August 2015
Aug 25, 2015
Spanish quotations
for both paddy and milled rice remained relatively stable during the week
August 3 - August 9, 2015 compared to those in the week July 27 - August 2,
2015, according to data released by the Ministry of Agriculture.
The data shows that
Indica paddy in Badajoz grain exchange was firm at 280 euros (about $307) per
ton during the two weeks. Indica paddy in Sevilla grain exchange was also firm
at 286 euros (about $314) per ton on both weeks.
Japonica paddy in
Badajoz grain exchange did not move from 290 euros (about $318) per ton during
these two weeks. Japonica paddy in Sevilla grain exchange was firm at 286 euros
(about $314) per ton on both weeks.
Milled rice in Tarragona
was out at 580 euros (about $636) per ton during both the weeks. Milled rice in
Valencia also remained firm at 597 euros (about $655) per ton on both weeks.
Oryza Overnight Recap – Chicago Rough Rice Futures Little Changed Overnight
as US Grains Take Ques From Outside Markets
Aug 25, 2015
Chicago rough rice
futures for Sep delivery are currently paused 1.5 cents per cwt (about $0.33
per ton) lower at $11.380 per cwt (about $251 per ton) ahead of floor trading
in Chicago. The other grains are seen trading higher ahead of early
morning action; soybeans are currently seen trading about 1.5% higher, wheat is
listed about 1.3% higher and corn is currently noted about 1.4% higher.
U.S. stock index
futures pointed to a sharply higher open on Tuesday, recovering from the
plunge seen in global stocks on Monday as mayhem in Chinese markets
and interest rate fears dominated markets. Dow futures briefly rose more than
600 points in premarket trading, implying a 467 point bounce at the open and
shrugging off deeper selling in China. Futures extended gains after the Chinese
central bank announced plans to cut its one year lending rate to 4.6%, which
the People's Bank of China said was provide long-term liquidity and help
support the economy.
Equity markets in
China fell further in the final hour of trading on Tuesday, with the
Shanghai Composite settling below the key 3,000 mark, to end the day down
7.6%.European equities bucked the weakness seen in Asia, trading firmly in the
green. The pan-European Stoxx 600 surged over 4%, with French, German and U.K.
stocks all up between 3.5 and 4.5%. Basic resources stocks were the key
outperformer, shooting around 7% higher. On the data front, there are a flurry
of housing market indicators due Tuesday, with the Case-Shiller home price
indices for June showing home prices rose less than expected. Gold is currently
trading about 0.2% lower, crude oil is seen trading about 3.7% higher,
and the U.S. dollar is currently trading about 0.8% higher at 8:15am Chicago
time.
Vietnam Rice Exports to Africa Increase Sharply in First Seven Months of
2015 Due to Low Prices
Aug 25, 2015
Vietnam rice exports
to Africa increased about 52% to around 525,896 tons in the first seven months
of 2015 from around 345,984 tons exported during the same time last year, local
sources quoted the Ministry of Industry and Trade.
Sources from the
Ministry's Department of told local sources that Vietnam's rice exports to
Africa in the first seven months account for about 16% of total rice exports.
Ghana, Ivory Coast, South Africa and Algeria remained major buyers from Africa
so far this year, according to the Ministry sources. The increase in exports to
African nations is attributed to lower prices of Vietnam rice compared to those
of Thailand and India.
Currently Vietnam
25% broken rice is quoted at around $320 per ton compared to Thai 25% and India
25% at around $345 per ton and around $340 per ton respectively. On the other
hand, Vietnam 5% broken rice is quoted at around $330 per ton compared to Thai
25% and India 25% at around $360 per ton and around $365 per ton respectively.
The sources also
noted that Vietnam exported about 21,419 tons of rice worth $12 million to the
U.A.E. during January - July 2015, up about 375 from last year.
Vietnam exported
about 3.343 million tons of rice in January 1 - August 13, 2015, down about 22%
from about 4.26 million tons of rice exported in first eight months of 2014,
according to data from the Vietnam Food Association (VFA). The 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.
Tourists Can Now Enjoy Exclusive Rice Dishes at 'Rice Trotters' in Paris!
Aug 25, 2015
Star chef, Anthony
Boucherm and his friend Laurianne Fertè d'Hoir have recently opened an
exclusive rice restaurant called 'Rice Trotters;' in Rue Du Colisée, Paris,
according to local sources.
Four different
dishes from all the world as well as risotto will be served everyday. The
restaurant is basically targeting various international tourists, according to
local sources.
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