Agricultural Relief Package is Not Sufficient to Cover Losses, Say Pakistan Rice Farmers
Sep 21, 2015
Pakistan rice farmers have expressed dissatisfaction over the agricultural relief package announced by the Prime Minister last week, according to local sources.They told local sources that the Rs.5,000 per acre (around $120 per hectare) is not sufficient to cover their losses due to fall in prices. They noted that the losses have jumped to around Rs.30,000 per acre (around $720 per hectare) and the incentive is only one-sixth of the losses incurred. Due to market slump, the price of new crop stands 30% lower than last year, they said.
Separately, the Managing Director (MD) of the Institute for Policy Reforms (IPR), in a report titled ‘An Evaluation of the Prime Minister’s Agriculture Relief Package’ tried to analyze whether the package announced by the Prime Minister would have a positive impact on small farmers.
He noted that incentives like introduction of support price for paddy, export subsidy on rice and reduction in the price of light diesel oil would have increased the effectiveness of the package.
He stated in the report that it is too early to judge how well the relief package would cover the losses incurred due to price falls. For instance, experts are expecting rice prices to fall about 22% in 2016. Therefore, the author of the report says the allocated Rs.20 billion (around $191 million) each for rice and cotton sectors would cover only 66% of farmers' losses considering the number of farmers and total acreage.
Indonesia May Import Rice Due to Harvest Failures in Some Areas, Says Vice-President
Sep 21, 2015
Indonesia may need to import rice this year as the extended drought conditions induced by the El Nino weather phenomenon are likely to cause harvest failures in some areas, Xinhua Net quoted the country's Vice-President.
The Vice-President told reporters that prolonged drought has led to delayed harvests and disturbed cultivation in some areas. Over 200,000 hectares of rice fields across the country are suffering with lack of water and about 30,000 hectares have failed in harvest, according to the Agriculture Ministry.
He noted that the country's output may not be sufficient to meet the consumption demand of the country. "The rice stockpile at the national logistic agency is only 1.5 million tons, while the demand of whole of the population is 2.5 to 3 million tons (per year)," he said.
According to the country's Meteorology, Climatology and Geophysics Agency, a moderate El Nino will hit Indonesia from August to December with the peak in September. The government has already some measures such as such as creating artificial rains and distributing hundreds of pump sets to farmers who have suffered from drought.
The Indonesian 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.
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).
Global Rice Quotes
September 22nd, 2015
Long grain white rice - high quality
Thailand 100% B grade 350-360 ↓
Vietnam 5% broken 325-335 ↔
India 5% broken 355-355 ↔
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 330-340 ↔
Vietnam 25% broken 315-325 ↔
Pakistan 25% broken 290-300 ↔
Cambodia 25% broken 405-415 ↔
India 25% broken 315-325 ↔
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 340-350 ↔
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
Thai Rice Exporters Expect to Export 9 Million Tons of Rice in 2015
Sep 21, 2015
Thailand's 2015 rice exporters are likely to reach around 9 million tons, much below the earlier estimated 11 million tons, local sources quoted the Honorary President of the Thai Rice Exporters Association (TREA) as saying.
He expressed optimism that Thai rice prices would increase by about 8-10% during the end of this year and early next year due to increased demand and low supplies. Thailand’s paddy rice production is estimated to fall by about 30% to around 22.98 million tons in 2015-16.
The TREA official noted that the demand for rice would increase in most of the importing nations during the Christmas and New Year celebrations. For instance, he is expecting Nigeria to increase its purchases of parboiled rice from November.
He also noted that the Association is expecting Indonesia to purchase about 500,000 tons of rice despite adopting a self-sufficiency policy due to concerns of an El nino weather pattern affecting production and stocks. Meanwhile, the Philippines has already agreed to buy 300,000 tons of rice from Thailand and 450,000 tons of rice from Vietnam at around $426.6 per ton (cif) between November and January.
He however, expressed doubt whether Thailand would retain the number one exporter position this year. He noted that as on August 17, 2015, Thailand exported around 6 million tons of rice, India had exported around 5.7 million tons and Vietnam exported below 4 million tons. The official stated that the exact estimation of Thai rice exports can be known after getting an idea of India's rice exports in the next few months. India overtook Thailand as the world's top rice exporter in 2012 and 2013.
Export prices of Thai 5% rice currently stand at around $340-$350 per ton. The TREA official noted that the Thai prices have almost reached bottom partly due to the baht's fall against the U.S. dollar.
Vietnam Exports About 3.885 Million Tons Rice During January 1 – September 17, 2015
Sep 21, 2015
Vietnam exported about 3.885 million tons of rice in January 1 - September 17, 2015, down about 19% from about 4.8 million tons of rice exported in first nine 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 $418 per ton (FOB), down about 3% per ton from about $432 per ton recorded during same last year.
During September 1-17, 2015, Vietnam exported about 67,090 tons of rice, down about 88% from about 545,362 tons rice exported in full month of September 2014, and down about 87% from about 517,060 tons rice exported in full month of August 2015. The average export price so far in September stands at about $434 per ton, down about 1% per ton from a year ago and unchanged from a month ago.
China Rice Imports Increase Sharply in First Eight Months of 2015
Sep 21, 2015
China has imported around 1.96 million tons of rice in the first eight months of 2015 (January - December), up about 18% from around 1.65 million tons imported during the same period last year, according to data from China Customs General Administration.
In August 2015, China imported around 215,000 tons of rice, down about 34% from around 325,200 tons imported in July 2015, and up about 43% from around 150,000 tons imported in August 2014.
China has exported around 142,200 tons of rice in first eight months of 2015, up about 5% from around 135,573 tons exported during the same period last year, according to data from the China Customs General Administration.
In August 2015, China exported around 19,000 tons of rice, down about 2.8 times from around 6,700 tons exported in July 2015 and down about 26% from around 25,997 tons exported in August 2014.
China imported about 2.563 million tons of rice and exported about 419,069 tons of rice and in 2014.
USDA estimates China to produce around 146 million tons of milled rice in MY 2015-16 (July - June). It estimates China to import around 4.4 million tons and export around 400,000 tons of rice in 2015.
Government of India Procures 31.98 Million Tons of Rice as of September 15, 2015 in KMS 2014-15
Sep 21, 2015
The Food Corporation of India (FCI), the nodal agency for food grain procurement and distribution has procured around 31.98 million tons of rice as of September 15, 2015 in KMS 2014-15 (October 2014 - September 2015), compared to around 31.8 million tons procured last year, according to data by the Ministry of Consumer Affairs, Food & Public Distribution.
Punjab (7.786 million tons), Andhra Pradesh (3.572 million tons), Telangana (3.504 million tons), Odisha (3.487 million tons, and Chhattisgarh (3.355 million tons) are the top contributors to the central pool so far in KMS 2014-15.
The Indian government is targeting to procure 35.109 million tons of rice during the KMS 2014-15.
It is planning to procure around 30 million tons of rice in the KMS 2015-16, including around 2.7 million tons from Uttar Pradesh, 2 million tons from Bihar, 1.8 million tons from west Bengal, 300,000 tons from Jharkhand and 50,000 tons from Assam.
Oryza Afternoon Recap - Chicago Rough Rice Futures Fall while Other Grains Trade Higher on Weather Concerns in Europe & Rallying Crude
Sep 21, 2015
Chicago rough rice futures for Nov delivery settled 14.5 cents per cwt (about $3 per ton) lower at $12.805 per cwt (about $282 per ton). The other grains finished the day higher as the markets found support from rallying crude, as well as supportive weather conditions in Europe ; Soybeans closed about 0.3% lower at $8.8450 per bushel; wheat finished about 1.2% lower at $4.8150 per bushel, and corn finished the day about 1.5% lower at $3.7975 per bushel.
U.S. stocks traded in a range Monday, attempting to bounce from Friday's selloff, as declines in biotechs weighed and investors continued to digest last week's rate hike decision. The S&P 500 and Nasdaq composite both struggled to hold earlier gains of more than 1% as biotech stocks plunged on renewed attention on controversy over large price increases on certain drugs.
The major averages gained more than 1% in mid-morning trade before giving back nearly all gains. The Federal Reserve's decision to delay an interest rate increase last week was largely a "risk management" exercise to be sure recent market volatility would not become a drag on the U.S. economy, Atlanta Fed President Dennis Lockhart said in a Reuters report Monday. He said he still expects the Fed to raise rates this year. Fed Chair Janet Yellen speaks Thursday. Ahead of other housing data due in the week, August existing home sales fell more than expected to an annual rate of 5.31 million, a 4.8% drop. European stocks closed higher, shaking off a near 2% decline in the Nikkei and a 0.75% loss in the Hang Seng.
Mainland Chinese stocks closed nearly 2% higher. In early afternoon trade, the Dow Jones Industrial Average gained 72 points, or 0.44%, at 16,457. The S&P 500 traded up 5 points, or 0.25%, at 1,962, with financials and consumer staples leading all 10 sectors higher. The Nasdaq traded down 7 points, or 0.15%, at 4,819. Gold is trading about 0.5% lower, crude oil is seen trading about 4.1% higher, and the U.S. dollar is seen trading about 1.1% higher about 1:45pm Chicago time.Friday, there were 333 contracts traded, down from 443 contracts traded on Thursday. Open interest – the number of contracts outstanding – on Friday increased by 20 contracts to 10,729.
Government of Tanzania to collaborate with Private Sector to Strengthen Rice Marketing, Branding Capabilities
Sep 21, 2015
The government of Tanzania is planning to collaborate with the Tanzania Private Sector Foundation (TPSF) to strengthen marketing and branding of the Tanzanian rice in order to increase competitiveness in the East African Community (EAC) market, according to local sources.
Speaking at a seminar organized by the TPSF and the Trade Mark East Africa (TMEA) in order to promote intra-regional trade in rice and other cereals, the country's Permanent Secretary of the Ministry of EAC noted that the collaboration is aimed at encouraging locals to pack and brand their rice more efficiently.
“The private sector has been doing a great job in researching for challenges facing rice production. We’ll effectively address those challenges in a collaborative way so as to make our people enjoy the rice market in the region,” she said.
She also noted that a strong rice value chain is needed to promote rice exports more effectively. She stressed that due to poor marketing facilities, Tanzania could not take advantage of the rice export sector.
The TPSF Chairman emphasized the need for a strong rice association to take important decisions related to imports and exports as well as focus on the product aggregation, processing and marketing aspects. Such an association can help Tanzanian rice to be recognized as a unique product overseas.
Tanzania is the largest rice producer in East Africa and according to the government data, the country's annual rice production almost doubled between 2001 and 2012 due to expanded cultivation. Currently, Tanzania's average annual rice production is about 1.35 million tons.
USDA estimates Tanzania to produce around 1.386 million tons of rice, basis milled, and import around 200,000 tons in (June 2014 - May 2015) to meet an annual consumption demand of around 1.556 million tons. Tanzania is expected to export around 30,000 tons in MY 2015-16.
Irrigation Water in California is Much Cheaper Despite Fourth Year of Drought, Say Australia Rice Farmers
Sep 21, 2015
Rice Farmers from the Riverina region in Australia's New South Wales (NSW) are surprised to note that Californian rice farmers pay much less for irrigated water compared to the amount paid by them despite the U.S. state enduring drought for the last four years, according to ABC Online.
Australia's NSW state competes with Californian medium grain rice. Currently, Californian farmers are paying about $18.60 a mega litre. Whereas farmers in Australia's southern Murray-Darling Basin are paying up to $200 a mega litre for irrigation water. Also water allocations are said to be much higher in California than in the New South Wales Murray and Murrumbidgee Valleys.
An Agricultural Science student led a team of rice farmers to tour Californian rice farms and was surprised to see the variation in the Californian and Australian rice situations.
She also found that apart from better and cheaper water allocations, Californian farmers use their rice farms as bird habitats and earn supplementary income from them. For instance, the amount earned from raising birds and recreational duck shooters in their paddy fields is higher than what they pay for water, she says.
Pakistan Rice Exports Increase by Over Half in August 2015
Sep 21, 2015
In August 2015, Pakistan exported around 240,629 tons of rice, up about 54% from around 155,570 tons exported in July 2015 and up about 44% from around 166,686 tons exported in August 2014. In terms of value, Pakistan earned about $121 million in August 2015, up about 33% from around $91 million earned in July 2015 and up about 15% from their year-ago levels of around $104.5 million.
Pakistan exported around 30,525 tons of basmati rice in August 2015, up about 13% from around 27,015 tons exported in July 2015, and slightly up from around 30,110 tons exported in August 2014. In terms of value, Pakistan's basmati rice exports earned $36 million in August 2015, up about 5% from around $34 million earned in July 2015, and down about 3% from around $37 million earned in August 2014.
Pakistan exported around 210,104 tons of non-basmati rice in August 2015, up about 63% from around 128,555 tons exported in July 2015 and up about 54% from around 136,576 tons in August 2014. In terms of value, Pakistan's non-basmati rice exports earned $86 million in August 2015, down about 51% from around $57 million earned in July 2015, and up about 28% from around $67 million earned in August 2014.
Pakistan exported around 396,199 tons of rice (including basmati and non-basmati) in the first two months of FY 2015-16 (July - June), up about 14% from around 348,084 tons exported during the same period in FY 2014-15, according to provisional data from the Pakistan Bureau of Statistics (PBS). However, Pakistan's rice exports declined in terms of value during the said period. Pakistan earned around $213 million during the two months of FY 2015-16, down about 7% from around $230 million earned last year.
Oryza Overnight Recap – Chicago Rough Rice Futures Begin the Week on a Bearish Note while Other Grains Rally
Sep 21, 2015
Chicago rough rice futures for Nov delivery are currently trading 15 cents per cwt (about $3 per ton) lower at $12.800 per cwt (about $282 per ton) during early floor trading in Chicago. The other grains are seen trading higher dlouring early morning action; soybeans are currently seen trading about 0.6% higher, wheat is listed about 1.2% higher and corn is currently noted about 0.5% higher.
U.S. stocks opened higher Monday as Wall Street continued to digest last week's rate hike decision amid comments from several Federal Reserve speakers. The Dow Jones industrial average jumped 100 points in the open, boosted by gains in Goldman Sachs. Financials gained about 1% as the greatest S&P sector advancer. U.S. stock index futures held higher after St. Louis Federal Reserve President James Bullard said he would have dissented on the central bank's decision to hold rates low. Atlanta Fed President Dennis Lockhart speaks at 1:30 p.m.,ET, Monday. Fed Chair Janet Yellen speaks Thursday.
Ahead of other housing data due in the week, August existing home sales fell more than expected to an annual rate of 5.31 million, a 4.8% drop. In mid-morning trade, the Dow Jones Industrial Average gained 110 points, or 0.685, at 16,496. The S&P 500 traded up 12 points, or 0.60%, at 1,969, with financials leading all 10 sectors higher. The Nasdaq traded up 32 points, or 0.68%, at 4,859. Gold is currently trading about 0.5% lower, crude oil is seen trading about 2.6% higher, and the U.S. dollar is currently trading about 0.9% higher at 9:30am Chicago time.
Sep 21, 2015
Pakistan rice farmers have expressed dissatisfaction over the agricultural relief package announced by the Prime Minister last week, according to local sources.They told local sources that the Rs.5,000 per acre (around $120 per hectare) is not sufficient to cover their losses due to fall in prices. They noted that the losses have jumped to around Rs.30,000 per acre (around $720 per hectare) and the incentive is only one-sixth of the losses incurred. Due to market slump, the price of new crop stands 30% lower than last year, they said.
Separately, the Managing Director (MD) of the Institute for Policy Reforms (IPR), in a report titled ‘An Evaluation of the Prime Minister’s Agriculture Relief Package’ tried to analyze whether the package announced by the Prime Minister would have a positive impact on small farmers.
He noted that incentives like introduction of support price for paddy, export subsidy on rice and reduction in the price of light diesel oil would have increased the effectiveness of the package.
He stated in the report that it is too early to judge how well the relief package would cover the losses incurred due to price falls. For instance, experts are expecting rice prices to fall about 22% in 2016. Therefore, the author of the report says the allocated Rs.20 billion (around $191 million) each for rice and cotton sectors would cover only 66% of farmers' losses considering the number of farmers and total acreage.
Indonesia May Import Rice Due to Harvest Failures in Some Areas, Says Vice-President
Sep 21, 2015
Indonesia may need to import rice this year as the extended drought conditions induced by the El Nino weather phenomenon are likely to cause harvest failures in some areas, Xinhua Net quoted the country's Vice-President.
The Vice-President told reporters that prolonged drought has led to delayed harvests and disturbed cultivation in some areas. Over 200,000 hectares of rice fields across the country are suffering with lack of water and about 30,000 hectares have failed in harvest, according to the Agriculture Ministry.
He noted that the country's output may not be sufficient to meet the consumption demand of the country. "The rice stockpile at the national logistic agency is only 1.5 million tons, while the demand of whole of the population is 2.5 to 3 million tons (per year)," he said.
According to the country's Meteorology, Climatology and Geophysics Agency, a moderate El Nino will hit Indonesia from August to December with the peak in September. The government has already some measures such as such as creating artificial rains and distributing hundreds of pump sets to farmers who have suffered from drought.
The Indonesian 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.
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).
Global Rice Quotes
September 22nd, 2015
Long grain white rice - high quality
Thailand 100% B grade 350-360 ↓
Vietnam 5% broken 325-335 ↔
India 5% broken 355-355 ↔
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 330-340 ↔
Vietnam 25% broken 315-325 ↔
Pakistan 25% broken 290-300 ↔
Cambodia 25% broken 405-415 ↔
India 25% broken 315-325 ↔
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 340-350 ↔
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
Thai Rice Exporters Expect to Export 9 Million Tons of Rice in 2015
Sep 21, 2015
Thailand's 2015 rice exporters are likely to reach around 9 million tons, much below the earlier estimated 11 million tons, local sources quoted the Honorary President of the Thai Rice Exporters Association (TREA) as saying.
He expressed optimism that Thai rice prices would increase by about 8-10% during the end of this year and early next year due to increased demand and low supplies. Thailand’s paddy rice production is estimated to fall by about 30% to around 22.98 million tons in 2015-16.
The TREA official noted that the demand for rice would increase in most of the importing nations during the Christmas and New Year celebrations. For instance, he is expecting Nigeria to increase its purchases of parboiled rice from November.
He also noted that the Association is expecting Indonesia to purchase about 500,000 tons of rice despite adopting a self-sufficiency policy due to concerns of an El nino weather pattern affecting production and stocks. Meanwhile, the Philippines has already agreed to buy 300,000 tons of rice from Thailand and 450,000 tons of rice from Vietnam at around $426.6 per ton (cif) between November and January.
He however, expressed doubt whether Thailand would retain the number one exporter position this year. He noted that as on August 17, 2015, Thailand exported around 6 million tons of rice, India had exported around 5.7 million tons and Vietnam exported below 4 million tons. The official stated that the exact estimation of Thai rice exports can be known after getting an idea of India's rice exports in the next few months. India overtook Thailand as the world's top rice exporter in 2012 and 2013.
Export prices of Thai 5% rice currently stand at around $340-$350 per ton. The TREA official noted that the Thai prices have almost reached bottom partly due to the baht's fall against the U.S. dollar.
Vietnam Exports About 3.885 Million Tons Rice During January 1 – September 17, 2015
Sep 21, 2015
Vietnam exported about 3.885 million tons of rice in January 1 - September 17, 2015, down about 19% from about 4.8 million tons of rice exported in first nine 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 $418 per ton (FOB), down about 3% per ton from about $432 per ton recorded during same last year.
During September 1-17, 2015, Vietnam exported about 67,090 tons of rice, down about 88% from about 545,362 tons rice exported in full month of September 2014, and down about 87% from about 517,060 tons rice exported in full month of August 2015. The average export price so far in September stands at about $434 per ton, down about 1% per ton from a year ago and unchanged from a month ago.
China Rice Imports Increase Sharply in First Eight Months of 2015
Sep 21, 2015
China has imported around 1.96 million tons of rice in the first eight months of 2015 (January - December), up about 18% from around 1.65 million tons imported during the same period last year, according to data from China Customs General Administration.
In August 2015, China imported around 215,000 tons of rice, down about 34% from around 325,200 tons imported in July 2015, and up about 43% from around 150,000 tons imported in August 2014.
China has exported around 142,200 tons of rice in first eight months of 2015, up about 5% from around 135,573 tons exported during the same period last year, according to data from the China Customs General Administration.
In August 2015, China exported around 19,000 tons of rice, down about 2.8 times from around 6,700 tons exported in July 2015 and down about 26% from around 25,997 tons exported in August 2014.
China imported about 2.563 million tons of rice and exported about 419,069 tons of rice and in 2014.
USDA estimates China to produce around 146 million tons of milled rice in MY 2015-16 (July - June). It estimates China to import around 4.4 million tons and export around 400,000 tons of rice in 2015.
Government of India Procures 31.98 Million Tons of Rice as of September 15, 2015 in KMS 2014-15
Sep 21, 2015
The Food Corporation of India (FCI), the nodal agency for food grain procurement and distribution has procured around 31.98 million tons of rice as of September 15, 2015 in KMS 2014-15 (October 2014 - September 2015), compared to around 31.8 million tons procured last year, according to data by the Ministry of Consumer Affairs, Food & Public Distribution.
Punjab (7.786 million tons), Andhra Pradesh (3.572 million tons), Telangana (3.504 million tons), Odisha (3.487 million tons, and Chhattisgarh (3.355 million tons) are the top contributors to the central pool so far in KMS 2014-15.
The Indian government is targeting to procure 35.109 million tons of rice during the KMS 2014-15.
It is planning to procure around 30 million tons of rice in the KMS 2015-16, including around 2.7 million tons from Uttar Pradesh, 2 million tons from Bihar, 1.8 million tons from west Bengal, 300,000 tons from Jharkhand and 50,000 tons from Assam.
Oryza Afternoon Recap - Chicago Rough Rice Futures Fall while Other Grains Trade Higher on Weather Concerns in Europe & Rallying Crude
Sep 21, 2015
Chicago rough rice futures for Nov delivery settled 14.5 cents per cwt (about $3 per ton) lower at $12.805 per cwt (about $282 per ton). The other grains finished the day higher as the markets found support from rallying crude, as well as supportive weather conditions in Europe ; Soybeans closed about 0.3% lower at $8.8450 per bushel; wheat finished about 1.2% lower at $4.8150 per bushel, and corn finished the day about 1.5% lower at $3.7975 per bushel.
U.S. stocks traded in a range Monday, attempting to bounce from Friday's selloff, as declines in biotechs weighed and investors continued to digest last week's rate hike decision. The S&P 500 and Nasdaq composite both struggled to hold earlier gains of more than 1% as biotech stocks plunged on renewed attention on controversy over large price increases on certain drugs.
The major averages gained more than 1% in mid-morning trade before giving back nearly all gains. The Federal Reserve's decision to delay an interest rate increase last week was largely a "risk management" exercise to be sure recent market volatility would not become a drag on the U.S. economy, Atlanta Fed President Dennis Lockhart said in a Reuters report Monday. He said he still expects the Fed to raise rates this year. Fed Chair Janet Yellen speaks Thursday. Ahead of other housing data due in the week, August existing home sales fell more than expected to an annual rate of 5.31 million, a 4.8% drop. European stocks closed higher, shaking off a near 2% decline in the Nikkei and a 0.75% loss in the Hang Seng.
Mainland Chinese stocks closed nearly 2% higher. In early afternoon trade, the Dow Jones Industrial Average gained 72 points, or 0.44%, at 16,457. The S&P 500 traded up 5 points, or 0.25%, at 1,962, with financials and consumer staples leading all 10 sectors higher. The Nasdaq traded down 7 points, or 0.15%, at 4,819. Gold is trading about 0.5% lower, crude oil is seen trading about 4.1% higher, and the U.S. dollar is seen trading about 1.1% higher about 1:45pm Chicago time.Friday, there were 333 contracts traded, down from 443 contracts traded on Thursday. Open interest – the number of contracts outstanding – on Friday increased by 20 contracts to 10,729.
Government of Tanzania to collaborate with Private Sector to Strengthen Rice Marketing, Branding Capabilities
Sep 21, 2015
The government of Tanzania is planning to collaborate with the Tanzania Private Sector Foundation (TPSF) to strengthen marketing and branding of the Tanzanian rice in order to increase competitiveness in the East African Community (EAC) market, according to local sources.
Speaking at a seminar organized by the TPSF and the Trade Mark East Africa (TMEA) in order to promote intra-regional trade in rice and other cereals, the country's Permanent Secretary of the Ministry of EAC noted that the collaboration is aimed at encouraging locals to pack and brand their rice more efficiently.
“The private sector has been doing a great job in researching for challenges facing rice production. We’ll effectively address those challenges in a collaborative way so as to make our people enjoy the rice market in the region,” she said.
She also noted that a strong rice value chain is needed to promote rice exports more effectively. She stressed that due to poor marketing facilities, Tanzania could not take advantage of the rice export sector.
The TPSF Chairman emphasized the need for a strong rice association to take important decisions related to imports and exports as well as focus on the product aggregation, processing and marketing aspects. Such an association can help Tanzanian rice to be recognized as a unique product overseas.
Tanzania is the largest rice producer in East Africa and according to the government data, the country's annual rice production almost doubled between 2001 and 2012 due to expanded cultivation. Currently, Tanzania's average annual rice production is about 1.35 million tons.
USDA estimates Tanzania to produce around 1.386 million tons of rice, basis milled, and import around 200,000 tons in (June 2014 - May 2015) to meet an annual consumption demand of around 1.556 million tons. Tanzania is expected to export around 30,000 tons in MY 2015-16.
Irrigation Water in California is Much Cheaper Despite Fourth Year of Drought, Say Australia Rice Farmers
Sep 21, 2015
Rice Farmers from the Riverina region in Australia's New South Wales (NSW) are surprised to note that Californian rice farmers pay much less for irrigated water compared to the amount paid by them despite the U.S. state enduring drought for the last four years, according to ABC Online.
Australia's NSW state competes with Californian medium grain rice. Currently, Californian farmers are paying about $18.60 a mega litre. Whereas farmers in Australia's southern Murray-Darling Basin are paying up to $200 a mega litre for irrigation water. Also water allocations are said to be much higher in California than in the New South Wales Murray and Murrumbidgee Valleys.
An Agricultural Science student led a team of rice farmers to tour Californian rice farms and was surprised to see the variation in the Californian and Australian rice situations.
She also found that apart from better and cheaper water allocations, Californian farmers use their rice farms as bird habitats and earn supplementary income from them. For instance, the amount earned from raising birds and recreational duck shooters in their paddy fields is higher than what they pay for water, she says.
Pakistan Rice Exports Increase by Over Half in August 2015
Sep 21, 2015
In August 2015, Pakistan exported around 240,629 tons of rice, up about 54% from around 155,570 tons exported in July 2015 and up about 44% from around 166,686 tons exported in August 2014. In terms of value, Pakistan earned about $121 million in August 2015, up about 33% from around $91 million earned in July 2015 and up about 15% from their year-ago levels of around $104.5 million.
Pakistan exported around 30,525 tons of basmati rice in August 2015, up about 13% from around 27,015 tons exported in July 2015, and slightly up from around 30,110 tons exported in August 2014. In terms of value, Pakistan's basmati rice exports earned $36 million in August 2015, up about 5% from around $34 million earned in July 2015, and down about 3% from around $37 million earned in August 2014.
Pakistan exported around 210,104 tons of non-basmati rice in August 2015, up about 63% from around 128,555 tons exported in July 2015 and up about 54% from around 136,576 tons in August 2014. In terms of value, Pakistan's non-basmati rice exports earned $86 million in August 2015, down about 51% from around $57 million earned in July 2015, and up about 28% from around $67 million earned in August 2014.
Pakistan exported around 396,199 tons of rice (including basmati and non-basmati) in the first two months of FY 2015-16 (July - June), up about 14% from around 348,084 tons exported during the same period in FY 2014-15, according to provisional data from the Pakistan Bureau of Statistics (PBS). However, Pakistan's rice exports declined in terms of value during the said period. Pakistan earned around $213 million during the two months of FY 2015-16, down about 7% from around $230 million earned last year.
Oryza Overnight Recap – Chicago Rough Rice Futures Begin the Week on a Bearish Note while Other Grains Rally
Sep 21, 2015
Chicago rough rice futures for Nov delivery are currently trading 15 cents per cwt (about $3 per ton) lower at $12.800 per cwt (about $282 per ton) during early floor trading in Chicago. The other grains are seen trading higher dlouring early morning action; soybeans are currently seen trading about 0.6% higher, wheat is listed about 1.2% higher and corn is currently noted about 0.5% higher.
U.S. stocks opened higher Monday as Wall Street continued to digest last week's rate hike decision amid comments from several Federal Reserve speakers. The Dow Jones industrial average jumped 100 points in the open, boosted by gains in Goldman Sachs. Financials gained about 1% as the greatest S&P sector advancer. U.S. stock index futures held higher after St. Louis Federal Reserve President James Bullard said he would have dissented on the central bank's decision to hold rates low. Atlanta Fed President Dennis Lockhart speaks at 1:30 p.m.,ET, Monday. Fed Chair Janet Yellen speaks Thursday.
Ahead of other housing data due in the week, August existing home sales fell more than expected to an annual rate of 5.31 million, a 4.8% drop. In mid-morning trade, the Dow Jones Industrial Average gained 110 points, or 0.685, at 16,496. The S&P 500 traded up 12 points, or 0.60%, at 1,969, with financials leading all 10 sectors higher. The Nasdaq traded up 32 points, or 0.68%, at 4,859. Gold is currently trading about 0.5% lower, crude oil is seen trading about 2.6% higher, and the U.S. dollar is currently trading about 0.9% higher at 9:30am Chicago time.
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