Bangladesh Urged to Maximize Use
of Rice Bran for Edible Oil Production
Jul
31, 2015
The Bangladesh Tariff Commission
(BTC) urged the government to maximize the use of rice bran in order to increase
the edible oil production in the country, according to Financial Express.A
study titled 'Rice Bran Oil and its Prospect in Bangladesh' by the BTC found
that only 500,000 tons, or less than a quarter of around 2.5 million tons of
rice bran produced in the country is used by local oil companies to produce
edible oil.
It noted that local edible oil
companies produce hardly 100,000 tons of rice bran oil annually while the
country has the potential to produce nearly 700,000 tons yearly.
The study noted that currently only 70% of rice mills are automatic or
semi-automatic while the remaining are yet to be modernized. BTC member and the
team leader of the study noted that Bangladesh produces nearly 51 million tons
of paddy yearly and if all the mills are automated, the production of rice bran
could reach over 3.6 million tons.
He states that by 2021, demand for edible oil is expected to increase to
around 2.47 million tons from the current 1.5 million tons. If all rice mills
in the country are automated and use of rice bran in maximized by 2021, rice
bran oil could cater to about 30% of the total edible oil demand.
However, the study found that the export of rice bran has been declining
over the past few years. Bangladesh exporters shipped around 27,076 tons of
rice bran in FY 2013-14 compared to around 90,781 tons in FY 2012-13.
The study also recommended that the awareness about the use of rice bran
oil should be increased among the consumers.
The President of the Bangladesh Auto Major and Husking Mills Owners
Association expressed optimism that demand for rice bran would increase in the
country over the next five years.
Improved Monsoon Rains Support
India 2015-16 Main Paddy Rice Crop Sowing
Jul
31, 2015
Total area planting to India's 2015-16 Kharif (main) rice crop (June -
December) stood at around 22.8 million hectares as of July 31, 2015, up about
6% from around 21.5 million hectares planted during the same time last year,
according to a press release by the Agriculture Ministry.
Indian monsoons which were 7% below normal in the previous week have
improved and are 4% below normal as on July 30, according to the Indian
Meteorological Department (IMD). Central, south peninsular and north-east
regions received 2%, 19% and 9% below average rains during the week. However,
the north-west region received 12% above-average rainfall.
Monsoon rains in July were originally forecast to be 12% below normal.
However, due to the monsoons' sudden peaking on the west an east coast of the
country brought some respite to agriculturists. Last week, the Economic Times
quoted the Director of the Central Rice Research Institute (CRRI) as saying
that the 2015-16 kharif rice output may not be significantly impacted if the
monsoon deficit is curbed at 10%.
Global rice prices are expected to increase by 10-20% as drought-inducing
El Nino is likely to dampen production prospects in Asian countries, including
India, Thailand, Indonesia and the Philippines.
The total Kharif crop sown area stands at 76.4 million hectares as on July
31, 2015, up about 9% from around 70.3 million hectares during the same period
last year, according to the Agriculture Ministry.
South Korea Buys 30,000 Tons of
Non-Glutinous Brown Rice in Tender
Jul
31, 2015
South Korea's state run Agro Fisheries & Food Trade Corporation (KAFTC)
has purchased 30,000 tons of non-glutinous brown rice of Chinese and U.S.
origins for delivery between October 15, 2015 and February 29, 2016, according
to a statement on its website.
The following table shows the tonnage and prices of the rice purchased.
KAFTC originally sought to purchase about 41,000 tons of non-glutinous rice via five tenders for which the bidding took place on July 31, 2015.
It will announce the results for the remaining 11,000 tons of non-glutinous
brewers milled rice after the sample tests.
Government of Nigeria Urged to
Withdraw Waivers on Rice Importation
Jul
31, 2015
The Senate has urged the Federal government of Nigeria to withdraw all waivers
on rice importation in order to encourage production in the country, according
to local sources.
It noted that waivers and concessions in the recent years have led to huge
quantities of rice imports and eroded the government's rice production policy.
The Senate also emphasized that the government has been losing about N71
billion (around $356 million) annually due to duty waivers on importation of
rice and other agricultural products. It also stressed on the need to recover
all duties due to the government.
It set up a nine-member committee to look into all waivers, concessions and
grants. The committee is also responsible for reviewing policies to recover all
government revenues and block leakages.
The President of the Senate noted that the government needs to focus on
increasing self-sufficiency in rice and other agriculture products rather than
relying on imports. He added that the newly set up committee will ensure that
every penny owed to the government will be recovered.
Earlier this year, some importers were alleged to have exceeded the import
quotas allocated to them under a new rice policy introduced in May 2014. Under
the policy, the government allows for a preferential import duty of 10% and a
levy of 20% against an import duty of 10% and levy of 60% for foreign firms in
order to encourage investment in local rice production and milling. However,
nearly five foreign importing companies have together exceed their import quota
by 70%. The accused importers have been asked to pay back the extra amount to
the government.
Recently, the government resorted to closing down of some warehouses that
pertained some importers who have been evading taxes.
Indian Researchers Identify Rice
Varieties for Diabetic Patients, Says Minister
Jul
31, 2015
The Indian Institute of Rice Research (IIRR) under the Indian Council of
Agricultural Research (ICAR) has identified three varieties of rice that are
suitable for diabetic patients, according to local sources.
The Minister of State for Agriculture told the Upper House of Parliament
that rice varieties with glycemic index value equal to or lower than 55 are
considered suitable for diabetic patients. He noted that the IIRR Hyderabad has
identidied three varieties - Lalat (GIS.17), BPT 5204 (GIQ.42) and Sampada
(GIQ) - as having low glycemic values.
He also added that these three varieties are being cultivated in different
states in India.
Indonesia 2015 Paddy Production
May Fall Below Estimate, Says Agriculture Ministry Official
Jul
31, 2015
The government of Indonesia is expecting the country's 2015 paddy rice
output at around 75.2 million tons, slightly below the 75.5 million tons,
estimated by the statistics agency, Bloomberg quoted the Secretary General at
the Agriculture Ministry.
Extending drought conditions as said to have affected around 111,000
hectares of rice planted area and around 8,900 hectares of cultivated land may
see a failed harvest, according to the official. Around 14 million hectares of
land is planted with rice, said the official.
The government has allocated around 2.8 trillion Rupiah (around $208
million) to support rice sector. With the allocated funds, the government is
planning to develop water supply for drought-affected areas.
UPDATE: Iraq Bought 142,000 Tons
of Rice from Argentina, Uruguay
Jul
31, 2015
Iraq has bought 142,000 tons of rice from Argentina and Uruguay, inlcuding:
30,000 tons from Uruguay at $605 per ton
30,000 tons from Argentina at $602 per ton
30,000 tons from Argentina at $603 per ton
52,000 tons from Argentina at $608.85 per ton
Oryza Overnight Recap – Chicago
Rough Rice Futures Continue to Show Strength as Cash Market Appears to be
Tightening
Jul
31, 2015
Chicago rough rice futures for Sep delivery are currently seen trading 10.5
cents per cwt (about $2 per ton) higher at $11.540 per cwt (about $254 per ton)
during early floor trading in Chicago. The other grains are seen trading mixed this
morning; soybeans are currently seen trading about 0.4% lower, wheat is listed
about 1% higher and corn is currently noted about 0.1% higher.
U.S. stocks opened mildly higher on
Friday, the final day of trade for July, as investors digested data and soft
energy earnings. Crude oil traded lower near $48 a barrel. The energy sector
fell about 1.5% as the only declining sector in the S&P 500. The employment
cost index disappointed analysts with a rise of 0.2%, below expectations of
0.6%.The Federal Reserve left interest rates unchanged after the conclusion of
its July meeting on Wednesday. The statement indicated a more optimistic
outlook on U.S. economic growth, but second-quarter GDP missed expectations on
Thursday, while first-quarter GDP was revised from negative to slightly
positive.
Other data scheduled for release
include the July Chicago PMI and the final University of Michigan consumer
sentiment survey, at 9:45 a.m. ET and 10:00 a.m. respectively. Overseas,
European stocks traded narrowly mixed. The Greek stock exchange is set to
reopen on Monday. The Dow Jones Industrial Average traded up 13 points, or
0.07%, at 17,757. The S&P 500 traded up 3 points, or 0.13%, at 2,111, with
utilities leading nine sectors higher and energy the only decliner. The Nasdaq
traded up 12 points, or 0.24%, at 5,140. Gold is currently trading about 0.9%
higher, crude oil is seen trading about 0.4% lower, and the U.S. dollar
is currently trading about 1.2% lower at 9:00am Chicago time.
Oryza Weekly: Global Rice Prices
Expected to Surge on Concerns of Lower Asian Supplies
Jul
31, 2015
The Oryza White Rice Index (WRI), a weighted average of global white rice
export quotes, ended the week at about $397 per ton, down about $7 per ton from
a week ago, down about $8 per ton from a month ago and down about $86 per ton
from a year ago.
The El Nino weather phenomenon associated with drought and low rainfall in
Asia is likely to lower prospects of production in Asian countries, including
India, Thailand, Indonesia and the Philippines. Global rice prices, which have
fallen significantly since the beginning of this year due to increased supplies
and lower demand, are expected to surge 10-20% by the end of this year on
concerns of a fall in production.
Thailand
Thailand 5% broken rice is today shown at about $370 per ton, down about
$10 per ton from a week ago, unchanged from a month ago and down about $65 per
ton from a year ago.
Thailand’s government has postponed an auction for 1.29 million tons of
sub-standard rice, moving the auction from early July to August, in order to
allow officials to conduct the rice separation process thoroughly.
Meanwhile, the government has struck preliminary deals to export about
760,000 tons of stockpiled rice to African nations, including Mozambique, Nigeria, and South Africa.
Separately, the government of Thailand plans to extend support to Brunei to help the country achieve
self-sufficiency in rice production.
Vietnam
Vietnam 5% broken rice is today shown at about $340 per ton, down about $10
per ton from a week ago, down about $15 per ton from month ago and down
about $130 per ton from a year ago.
During the period January 1 - July 23, Vietnam exported about 2.926 million
tons of rice, down about 19% from the first seven months of 2014.
The UN’s FAO forecasts Vietnam’s 2015 rice exports are around 6.3 million
tons, down slightly from last year’s below-average level of 6.5 million
tons.
Rice exporters in Cambodia are concerned about losing market share in the EU if the EU-Vietnam
Bilateral Free Trade Agreement is finalized.
India
India 5% broken rice is today shown at about $390 per ton, unchanged from a
week and a month ago, and down about $50 per ton from a year ago.
Total area planting to India's 2015-16 Kharif (main) rice crop (June -
December) stood at around 22.8 million hectares as of July 31, 2015, up about
6% from around 21.5 million hectares planted during the same time last year.
Improved monsoons are said to be providing support to the ongoing kharif rice
planting.
The Indian Institute of Rice Research (IIRR) under the Indian Council of
Agricultural Research (ICAR) has identified three varieties of rice - Lalat
(GIS.17), BPT 5204 (GIQ.42) and Sampada (GIQ) - that are suitable for diabetic
patients.
The Bangladesh Tariff Commission (BTC)
urged the government to maximize the use of rice bran in order to increase the
edible oil production in the country.
Pakistan
Pakistan 5% broken rice is today shown at about $355 per ton, down about
$25 per ton from a week ago, down about $30 per ton from a month ago and down
about $90 per ton from a year ago.
In FY 2014-15, Pakistan exported about 3.93 million tons of rice, an
increase of about 6% from FY 2013-14, according to preliminary data from the
Pakistan Bureau of Statistics.
Central & South America
Brazil 5% broken rice is today shown at about $500 per ton, unchanged from a week ago,
down about $50 per ton from a month ago and down about $165 per ton from a year
ago. The Brazilian paddy rice index maintained by CEPEA reached
around 33.71 real per 50 kilograms as of July 27, 2015, up about 0.30% from
around 33.60 real per 50 kilograms recorded on July 20, 2015.
In terms of USD per ton, the index reached around $203 per ton on July 27,
2015, down about 3% from around $209 per ton recorded on July 20, 2015.
Argentina has exported about 99,279 tons in the first four months of 2015 (January-April),
a decrease of about 53% from the same period in 2014, according to the Ministry
of Agriculture.
Five percent broken rice from Uruguay and Argentina is today shown at
about $540 per ton, unchanged from a week ago, down about $25 per ton from a month
ago, and down about $85 per ton from a year ago.
Bloomberg reports that Iraq has bought 112,000 tons of rice from Argentina and Uruguay.
Rice paddy production in Mexico is projected to be little
changed y/y at about 240,000 tons in the 2015-16 marketing year
(October-September).
U.S.
U.S. 4% broken rice is today shown at about $475 per ton, unchanged from a
week ago, up about $20 per ton from a month ago and down about $80 per
ton from a year ago.
High night time temperatures, along with bacterial panicle blast, are
reportedly threatening rice production in the state of Arkansas.
Japan plans to propose a 70,000 ton tariff-free rice import quota for the
U.S. in efforts to expedite the Trans-Pacific Partnership (TPP) negotiations
that have been stalled due to an impasse between the U.S. and Japan over access
to Japan’s rice market and U.S. tariffs on automotive parts.
Other Markets
The Myanmar Agribusiness Public
Company Limited will export 3,000 tons of rice to China as part of the 100,000 tons to
be exported under a memorandum of understanding signed between the Myanmar Rice
Federation and China’s National Cereals, Oils and Foodstuffs Corporation.
Cambodia’s Commerce Ministry will invest about $450,000 as a one-time seed capital
in the country’s rice sector to help boost exports.
The Philippine Atmospheric, Geophysical and
Astronomical Services Administration (Pagasa) has warned that the El Nino
phenomenon, which started as a weak one in March and turned moderate in June,
is heading to the most intense stage by October.
South Korea's state run Agro Fisheries & Food Trade Corporation (KAFTC) has
purchased 30,000 tons of non-glutinous brown rice of Chinese and U.S. origins
for delivery between October 15, 2015 and February 29, 2016.
The government of Indonesia is expecting the country's 2015 paddy rice output at around 75.2 million
tons, slightly below the 75.5 million tons, estimated by the statistics agency,
due to extending drought conditions in the country.
During the period September 1, 2014 to July 21, 2015, Italy has exported about 113.068
tons of milled rice, up about 3.8% from the same period last year.
Milled rice production in Russia is expected to increase to
around 700,000 tons in MY 2015-16 (Jan-Dec 2016), up from an estimated 682,000
tons in MY 2014-15, according to the USDA Post.
The government of Iran has extended its deadline for registration of rice, milling wheat,
vegetable oil, and raw sugar importers until August 17 (the previous deadline
was August 6).
The Senate has urged the Federal government of Nigeria to withdraw all waivers on rice
importation in order to encourage production in the country.
The Ebola virus is still affecting West Africa’s agricultural activities,
and rice production in Sierra Leone is expected to decline because of it.
Thailand, Vietnam, Pakistan Rice
Sellers Lower Some of Their Quotes Today; India Rice Quotes Unchanged
Jul
31, 2015
Thailand rice sellers lowered their quotes for 5% broken rice and Hommali
rice by about $5 per ton each to around $365-$377 per ton and $860-$870 per ton
respectively today. Vietnam rice sellers lowered their quotes for 5% broken
rice and 100% broken rice by about $5 per ton each to around $335-$345 per ton
and $310-$320 per ton respectively. Pakistan rice sellers lowered their quotes
for 5% broken rice by about $10 per ton to around $345-$355 per ton. India rice
sellers kept their quotes mostly unchanged.
5% Broken Rice
Thailand 5% rice is indicated at around $365 - $375 per ton, down about $5
per ton from yesterday and about $30 per ton premium on Vietnam 5% rice shown
at around $335 - $345 per ton, down about $5 per ton from yesterday.
India 5% rice is indicated at around $385 - $395 per ton, about $40 per ton premium on Pakistan 5% rice shown at around $345 - $355 per ton, down about $10 per ton from yesterday.
India 5% rice is indicated at around $385 - $395 per ton, about $40 per ton premium on Pakistan 5% rice shown at around $345 - $355 per ton, down about $10 per ton from yesterday.
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 $35 per ton premium on Pakistan 25% rice shown at around $315 - $325 per ton.
India 25% rice is indicated at around $350 - $360, about $35 per ton premium on Pakistan 25% rice shown at around $315 - $325 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, down about $5 per ton from yesterday. 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.
Oryza Afternoon Recap - Chicago
Rough Rice Futures Finish the Week on a Positive Note as Technicals Point to
Bullish Trend
Jul 31, 2015
Chicago rough rice futures for Sep
delivery settled 8 cents per cwt (about $2 per ton) higher at $11.515 per cwt
(about $254 per ton). The other grains finished the day mostly lower, with
wheat being the only component to manage a higher close; Soybeans closed about
1% lower at $9.4025 per bushel; wheat finished about 0.6% higher at $4.9925 per
bushel, and corn finished the day about 0.7% lower at $3.8125 per bushel.
U.S. stocks traded in a range
Friday, the final day of trade for July, as investors digested energy earnings
misses and soft data that could push an initial rate hike further out. The
Nasdaq held higher, while the S&P 500 Dow Jones industrial average
struggled to climb out of negative territory as declines in energy stocks
weighed. The major averages are on track for weekly and monthly gains, with the
Nasdaq outperforming. The employment cost index disappointed analysts with a
rise of 0.2%, the smallest increase in 33 years and below expectations of
0.6%.The Federal Reserve left interest rates unchanged after the conclusion of
its July meeting on Wednesday.
The statement indicated a more optimistic
outlook on U.S. economic growth, but second-quarter GDP missed expectations on
Thursday, while first-quarter GDP was revised from negative to slightly
positive. In other economic news, the Chicago PMI came in at 54.7 for July, the
highest since January. The Dow Jones Industrial Average traded down 32 points,
or 0.18%. The S&P 500 traded down 1 point, or 0.04%, at 2,107, with
utilities leading five sectors higher and energy the greatest decliner. The
Nasdaq traded up 9 points, or 0.17%, at 5,137. Gold is trading about 0.7%
higher, crude oil is seen trading about 2.6% lower, and the U.S. dollar is seen
trading at about 0.5% lower at about 1:00pm Chicago time.
Thursday, there were 1,775 contracts traded, up from 606
contracts traded on Wednesday. Open interest – the number of contracts
outstanding – on Thursday increased by 208 contracts to 8,839.
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