Italy Paddy Sales Sluggish in New Crop Year Due to Low Availability of
Stocks
Sep 16, 2015
Italian paddy sales
in the first week of the new crop year 2015-16 (September 1, 2015 - August 31,
2016) have remained sluggish due to low availability of stocks, according to
local sources.
Around 25,421 tons
of paddy were sold during September 1-8, 2015, down about 41.5% from around
43,459 tons sold during the same time last year. Since most the beginning
stocks of 2014-15 crop year were exhausted, only a few available quantities
from the last crop year were sold.
About 12,455 tons of
Long A varieties, around 10,585 tons of Long B varieties, around 1,716 tons of
round varieites and 665 tons of medium varieties are sold during the week.
Official quotations
on Italian grain exchanges have not yet started, But as per unofficial
quotations in Vercelli on September 15, round varieties were quoted at 30-32
euros (about $ 33.8-36 ) per ton; Long A varieties Augusti and Loto varieties
were quoted at 30 euros (about $ 33.8 ) per ton, Sant'Andrea was quoted at 40
euros (about $ 45), and Volando and Carnaroli were quoted at 55-60 euros (about
$ 61.9-67.6) per ton.
Pakistan Basmati Rice Export Prices Increase Slightly in August 2015
Sep 16, 2015
Pakistan
basmati rice export prices have increased in August 2015 after declining
continuously for three months, according to the UN's Food and Agriculture
Organization (FAO).The increase can be attributed to an expected surge in
basmati rice exports to Iran as the Middle East nation is understood to have
agreed to lift of sanctions on rice imports from Pakistan. Also the exporters
are lobbying for a rice-energy barter trade between the two nations. Last three
months, prices declined due to expected higher production in the country.
In
August 2015, Pakistan's basmati rice export prices have increased by about 2%
to around $888 per ton from around $868 per ton in July 2015, and down about
38% from their year-ago levels of around $1,430 per ton. In terms of local
currency, average Pakistan basmati rice prices in August 2015 increased by
about 2% to around PKR 89,914 per ton from around PKR 87,759 per ton in July
2015, and down about 38% from around PKR 144,430 per ton in August 2014.
Average
basmati rice prices increased between July and September 2014 and peaked to
around $1,450 per ton in September 2014 due to fears of a fall in production as
floods affected large area of basmati rice acreage in Punjab. However, the
overall production of basmati rice has not been significantly affected by
floods.
Currently, Pakistan
basmati growers have been urging the government to provide adequate support to
increase competitiveness of Pakistan's basmati rice in the global market.
Conab Estimates Brazil 2014-15 Paddy Rice Production to Increase Despite
Fall in Acreage
Sep 16, 2015
Brazil’s National
Grains Supply Company (Conab) has forecasted the country's 2014-15 paddy rice
production at around 12.449 million tons (around 8.6 million tons, basis
milled), up about 2.7% from around 12.121 million tons (around 8.24 million
tons, basis milled) in 2013-14.
Conab has estimated
Brazil's 2014-15 paddy rice acreage at around 2.295 million hectares, down
about 3.3% from around 2.373 million hectares in 2013-14.
Most of the decline
in acreage is expected in the North/Northeast region. Rice acreage in the
North/Northeast regions is estimated at around 738,200 hectares, down 8.7% from
around 808,400 hectares in 2013-14. On the other hand, paddy rice acreage in
the key rice growing Centro-Sul (Center-South) region is projected at 1.557
million hectares in 2014-15, slightly down from around 1.565 million hectares
in 2013-14.
Average rice yield
in Brazil in 2014-15 is projected at around 5.4 tons per hectare, up about
5.7% from around 5.11 tons per hectare recorded in the previous year.
USDA estimates
Brazil MY 2015-16 (April – March) paddy rice production at around 11.765
million tons (around 8 million tons, basis milled), down about 6% from an
estimated 12.5 million tons (around 8.5 million tons, basis milled) in MY
2014-15. It estimates Brazil’s 2015-16 paddy rice acreage to decline slightly
to around 2.3 million hectares. USDA estimates Brazil to export around one
million tons of rice and import around 550,000 tons of rice in 2015.
Asian Rice Quotes Mixed Today
Sep 16, 2015
Thailand rice
sellers lowered their quotes for parboiled rice by about $5 per ton to around
$340-$350 per ton today. Vietnam rice sellers increased their quotes for 5%
broken rice, 100% broken rice and Jasmine rice by about $5 per ton
each to around $325-$335 per ton, $305-$315 per ton and $450-$460 per ton
respectively. India rice sellers lowered their quotes for parboiled rice by
about $10 per ton to around $350-$360 per ton. Pakistan rice sellers lowered
their quotes for 5% broken rice by about $5 per ton to around $310-$320 per
ton.
5% Broken Rice
Thailand 5% rice is
indicated at around $335 - $345 per ton, about $10 per ton premium on Vietnam
5% rice shown at around $325 - $335 per ton, up about $5 per ton from
yesterday. India 5% rice is indicated at around $375 - $385 per ton, about $65
per ton premium on Pakistan 5% rice shown at around $310 - $320 per ton, down
about $5 per ton from yesterday.
25% Broken Rice
Thailand 25% rice is
shown at around $325 - $335 per ton, about $5 per ton premium on Vietnam 25%
rice shown at around $320- $330 per ton. India 25% rice is indicated at around
$340 - $350 per ton, about $50 per ton premium on Pakistan 25% rice shown at
around $290 - $300 per ton.
Parboiled Rice
Thailand parboiled
rice is indicated at around $340 - $350 per ton, down about $5 per ton from
yesterday. India parboiled rice is indicated at around $350- $360 per ton, down
about $10 per ton from yesterday and about $65 per ton discount to Pakistan
parboiled rice last shown at around $415 - $425 per ton.
100% Broken Rice
Thailand broken
rice, A1 Super, is indicated at around $305 - $315 per ton, on par with Vietnam
100% broken rice shown at around $305 - $315 per ton, up about $5 per ton from
yesterday. India's 100% broken rice is shown at around $300 - $310 per ton,
about $25 per ton premium on Pakistan broken sortexed rice shown at around $275
- $285 per ton.
India Forecasts 2015-16 Kharif Rice Production to Decline Slightly from
Last Year
Sep 16, 2015
The government of
India forecasts 2015-16 kharif (June - December) rice production at around 90.6
million tons, slightly down from around 90.86 million tons in 2014-15.
Total rice planted
area to the 2015-16 kharif rice crop stood at around 36.841 million hectares as
of September 11, 2015, slightly up from around 36.651 million hectares planted
during the same time last year. Planting operations have been so far
satisfactory despite concerns of weaker rains in the monsoon season
(June-September) due to an El Nino weather pattern.
The Indian
Meteorological Department (IMD) has forecasted the El Nino pattern to reach to
moderate to a strong one during the monsoon season (June – September). It has
forecast a 16% deficit in the rainfall during the second half
(August-September) of the monsoon season (June-September).
Concerns of a slight
reduction in kharif rice output may push up both domestic and export prices in
the next few months.
The government forecasts
the total kharif food grain output at around 124.05 million tons.
The government
estimates 2014-15 rice production to decline about 2% y/y to around 104.8
million tons due to below average rains during the kharif main rice crop
planting process (June - September 2014) in many key rice growing areas and
unseasonal rains and hailstorms during February and March 2015.
Italian Expo 2015 Highlights Rice Growing Cultures in Various Countries
Sep 16, 2015
Various rice growing
countries, including Bangladesh, Myanmar, Cambodia, Laos and Sierra Leone have
exhibited their rice booths in the Italian rice expo, which is taking place in
Milan.
A rice booth will
demonstrate how rice grows, including how the water covers and protects the
seedlings. It also conveys the feel of vastness, the colors and scents of rice
fields to visitors. Anyone visiting the rice booths will have a chance to get a
glimpse of rice growing cultures in various countries. They can also understand
how the farmers in those countries changed their cultivation patterns with
time.
Within the booths in
the expo, visitors can experience a rural setting featuring different varieties
of rice growing in fields. A kaleidoscopic effect is created with mirrors in
the booths.
Oryza Afternoon Recap - Chicago Rough Rice Futures Pull Back
as Market Reassesses Fundamental Outlook
Sep 16, 2015
Chicago rough rice
futures for Nov delivery settled 10.5 cents per cwt (about $2 per ton) lower at
$12.865 per cwt (about $284 per ton). The other grains finished the day in the
red; Soybeans closed about 0.2% lower at $8.8725 per bushel; wheat finished
about 1.3% lower at $4.8825 per bushel, and corn finished the day about 1.2%
lower at $3.8600 per bushel.
U.S.
stocks traded higher Wednesday as investors eyed a jump in oil and the
beginning of the Federal Reserve's key two-day meeting. The energy sector
briefly rose more than 2.5% to lead S&P advancers. Weekly crude oil
inventories unexpectedly fell, supporting further gains in oil prices. Crude
earlier surged more than 5.5%, while brent was temporarily up more than 7%
above $50 a barrel. The Federal Open Market Committee could raise short-term
interest rates for the first time in nine years in its two-day meeting that
began Wednesday. All eyes are on Thursday afternoon's expected statement and
press conference. Wall Street is divided over whether the central bank will
decide to raise rates. Stocks rallied more than 1% Tuesday, more than recouping
Monday's mild losses.
The Dow Jones industrial average joined the
other major averages to end within 10% of its 52-week high, out of correction
territory. Other analysts said the rally meant the Fed would hold off on
tightening Thursday. European shares rose, with the STOXX Europe up nearly 1.5%.
Asian stocks ended the session on a firm note. China's benchmark Shanghai
Composite index staged a late-day rally to close almost 5% higher — adding to
upbeat sentiment in global stock markets. In late-morning trade, the Dow Jones
Industrial Average advanced 92 points, or 0.56%, at 16,692. The S&P 500
traded up 11 points, or 0.58%, at 1,989, with energy leading seven sectors
higher and health care, financials and telecommunications declining. The Nasdaq
traded up 14 points, or 0.30%, at 4,875. Gold is trading about 1.5% higher,
crude oil is seen trading about 4.6% higher, and the U.S. dollar is seen
trading about 0.4% lower about 1:00pm Chicago time.
Tuesday, there were
417 contracts traded, down from 907 contracts traded on Monday. Open interest –
the number of contracts outstanding – on Tuesday increased by 442 contracts to
10,700.
ABARES Estimates Australia 2015-16 Paddy Rice Production to Decline Sharply
on Low Acreage
Sep 16, 2015
Australia's
paddy rice production in MY 2015-16 (April 2015 - March 2016) is estimated to
decline to around 655,000 tons (around 517,450 tons, basis milled), down about
10% from an estimated 724,000 tons (around 570,380 tons, basis milled) in MY
2014-15, according to data from the Australian Bureau of Agricultural and Resource
Economics and Sciences (ABARES).In its September crop outlook report, the
ABARES attributes the decline in paddy rice production to a 7% y/y decline in
planting area to around 65,000 hectares as well as a 7% y/y decline in average
yield to around 10 tons per hectare.
Total
summer crop production is estimated to have declined by 7% y/y in 2014–15 to
4.39 million tons, due to decline in production of all summer crops, including
rice. The area planted to summer crops declined by 17% y/y to around 1.24 million
hectares. Rice is grown in the states of New South Wales, Victoria and
Queensland.
Government of Thailand Estimates Paddy Rice Production to Reach Lowest
Level in 19 Years
Sep 16, 2015
The Thai Office of
Agricultural Economics (OAE) has estimated that Thailand's 2015-16 paddy rice
production may plunge to the lowest level in 19 years due to the extending
drought conditions and water shortages, according to Bloomberg.
The OAE told
reporters that the Thai paddy rice production may fall to 22.98 million tons in
2015-16, down about 30% from around 32.62 million tons last year.
Farmers are likely
to be restricted to plant rice between November 1, 2015 to April 30, 2016 due
to water shortages, according to the Agriculture Minister. Cabinet is yet to
make an official announcement regarding the same.
Lower production in
Thailand and other Asian nations due to the drought inducing El Nino pattern is
expected to tighten global rice supplies further impacting prices. “A potential
fall in output could gradually boost prices by up to $20 a ton by the end of
this year,” a Bangkok-based trader was quoted. Domestic prices may climb to
9,000 to 10,000 baht ($278) a ton from around 8,000 now," he added.
Meanwhile, Thailand has about
13.5 million tons in stocks and the government targets to export about 10
million tons of rice this year.
European Paddy, Rice Quotes Show Slight Movements in First Week of New Crop
Year
Sep 16, 2015
European paddy
quotes in the first week (September 1-8) of the crop year 2015-16 (September -
August) showed some slight movements with opposite trends in different
countries, according to the European quotations supplied by the European Union
(EU) on May 12, 2015.
SPAIN - Japonica
paddy remained firm at 288 euros (about $ 324 ) per ton on September 8. Indica
paddy did not move from 283 euros (about $ 318) per ton. Milled Japonica rice
quoted 586 euros (about $ 660) per ton on both weeks.
PORTUGAL -
Portuguese rice received no quotations.
GREECE – On
September 8, medium paddy variety received no quotations, while Long paddy
remained unchanged at 470 euros (about $ 529) from last week. Indica paddy
received no quotations.
ROMANIA - Japonica
paddy prices were declined slightly to 318 euros (about $ 358) per ton from 324
euros (about $ 365) per ton on September 1. Indica paddy quotes were unchanged
at 340 euros (about $ 383) per ton quoted on September 1, As for milled
rice, on September 8, Japonica quotes increased to 868 euros (about $ 978) per
ton from 759 euros (about $ 855) per ton on September 1. Indica milled rice
quoted increased to 858 euros (about $ 966) per ton on September 8, from 761
euros (about $ 857) per ton on September 1.
BULGARIA - Japonica
paddy quotations are firm at 294 euros (about $ 331) per ton. Japonica milled
rice prices were unchanged at 872 euros (about $ 982) per ton.
FRANCE - On
September 8, round milled rice declined to 550 euros (about $ 619) per ton
from 560 euro (about $ 631) per ton on September 1, as well as Long B
that declined from 590 euros (about $ 664) per ton on September 1 to 550 euros
(about $ 619) per ton on September 8. Long A reached 560 euros (about $ 631)
per ton on September 8 from 550 euro (about $ 619) per ton on September 1.
Indonesia May Import Rice if Needed, Says Vice-President
Sep 16, 2015
The government of
Indonesia may decide to import rice this year if the impact of El Nino on rice
production is severe, Bloomberg quoted the country's Vice-President as saying.
He told reporters
that government needs to monitor the impact of El Nino on the country's food
production. He also noted that the government should re-evaluate this year's 75
million tons paddy rice estimate amid extending drought conditions.
The government has
so far not imported any rice this year. It is keen on achieving self-sufficiency
in rice production and avoid imports this year. Even till recently, the
government has been hopeful of achieving sufficient rice production. However,
now the government is likely to take back its decision on imports.
Meanwhile, analysts
are predicting that Indonesia may have to import about 1.6 million tons of rice
this year to maintain stocks and stabilize prices.
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).
U.S. Rice Industry Opposes Emerging TPP Deal with Japan
Sep 16, 2015
The U.S. rice
industry is opposing the emerging Trans-Pacific Partnership (TPP) deal with
Japan and made it clear that they would not support the deal if their demands
on tariff free higher quota and quality access to Japan's rice market are not
met, according to Inside U.S. Trade.
The Chief Operating
Officer of USA Rice told reporters that they are urging the U.S. Trade
Representative (USTR) to negotiate a better deal for U.S. rice. The U.S. wants
Japan to increase tariff free rice imports from the U.S. to 175,000 tons from
the existing 50,000 tons, as well as provide quality access to its markets
(U.S. producers want Japan to allow them to sell directly to consumers instead
of the government agencies).
Japan has been
reluctant to increase the quota to 175,000 is negotiating to close at
70,000-100,000 tons. Currently it restricts rice imports through a
tariff-rate quota set at roughly 682,200 metric tons on a milled rice basis and
the U.S. accounts for nearly half the imports. While imports within the quota
are interest free, remaining are subject to a duty rate of 341 yen per
kilogram, or around$3,400 per ton. Therefore the U.S. rice sector says it is
unviable for them to ship rice outside the quota.
Meanwhile, the TPP
countries are likely to hold their next meeting on the U.S. during the last
week of September.
PM'S Agriculture Relief Package Does Not Cover Rice Export Sector, Says
REAP Chairman
Sep 16, 2015
The Chairman of the
Rice Exporters Association of Pakistan (REAP) has expressed dissatisfaction
that the agriculture relief package has not considered the demands of the rice
exporters, according to local sources.
He noted that the
Rs.5,000 per acre (around $120 per hectare) subsidy is not sufficient for
basmati rice farmers. He also noted that the government has not mentioned an
appropriate support price for super basmati, whose prices have been declining.
The REAP Chairman
also pointed out that the PM did not specify any loan waivers, or refund
of withholding tax to millers and exporters. He noted that the government was
also silent on the withdrawal of 3.5% withholding tax on local purchase of rice.
He also noted that
no mention was made regarding research and development in the rice sector. He
reiterated that the country's Rice Research Institutes have not provided new
and quality basmati seed since last 15-20 years.
The Chairman urged
the government to consider certain demands such as helping them deal with
shipping companies which increase prices suddenly when new crop receives the
market, refund of sales tax, enhancing the funds of the Trade Development
Authority of Pakistan (TDAP) to support the rice exports.
He warned that if
these issues are not addressed, rice export trade would witness an alarming
decline and exporters have to struggle to survive.
Global Rice Quotes
September 16th, 2015
Long grain white rice - high
quality
Thailand 100% B grade 350-360 ↔
Vietnam 5% broken 325-335 ↑
India 5% broken 375-385 ↔
Pakistan 5% broken 310-320 ↓
Myanmar 5% broken 415-425 ↔
Cambodia 5% broken 420-430 ↔
U.S. 4% broken 530-540 ↔
Uruguay 5% broken 535-545 ↔
Argentina 5% broken 530-540 ↔
Long grain white rice - low
quality
Thailand 25% broken 325-335 ↔
Vietnam 25% broken 315-325 ↔
Pakistan 25% broken 290-300 ↔
Cambodia 25% broken 405-415 ↔
India 25% broken 340-350 ↔
U.S. 15% broken 500-510 ↔
Long grain parboiled rice
Thailand parboiled 100% stxd 340-350 ↓
Pakistan parboiled 5% broken
stxd 415-425 ↔
India parboiled 5% broken stxd 350-360 ↓
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% 810-820 ↔
Vietnam Jasmine 450-460 ↑
India basmati 2% broken NQ ↔
Pakistan basmati 2% broken NQ ↔
Cambodia Phka Mails 830-840 ↔
Brokens
Thailand A1 Super 305-315 ↔
Vietnam 100% broken 305-315 ↑
Pakistan 100% broken stxd 275-285 ↔
Cambodia A1 Super 355-365 ↔
India 100% broken stxd 300-310 ↔
Egypt medium grain brokens NQ ↔
U.S. pet food 335-345 ↔
Brazil half grain NQ ↔
All prices USD per ton, FOB
vessel, oryza.com
USDA Estimates 2015 Global Rice Trade to Decline 2% y/y to 42.5 Million
In its September
Rice Outlook report, USDA forecasts 2015 global rice trade at around 42.5
million tons, down 2% from an estimated 43.4 million tons in 2014, and
unchanged from last month's forecast. USDA expects a 2 million ton or 18%
decline y/y in 2015 Thai rice exports and weaker shipments from Egypt, but says
an increase from other countries such as India, Pakistan and the U.S. may not
fully compensate for fall in Thai exports.On the exports side, USDA raised
projections for India rice exports based on shipment pace so far and larger
supplies. It however lowered export forecast for Vietnam and the U.S. based on
slow pace of sales. On the imports side, USDA lowered prospects only for Brazil
based on shipment pace.
USDA estimates
global rice trade in 2016 at around 42.2 million tons, slightly down from last
month's forecast of 42.3 million tons and estimates 42.5 million tons in 2015.
It lowered 2016 export prospects for Myanmar and the U.S, but increased
forecasts for India and Australia. It raised 2016 import forecasts for
Indonesia, but lowered for Chile.
mat,just
click the following link
No comments:
Post a Comment