Indian
Consumers Rate Rice Bran Oil as Best Cooking Oil
Sep 29, 2015
Indian State Haryana Refuse to Procure Paddy Until Their Demands are
Fulfilled
Sep 29, 2015
Rice millers in the
Indian state of Haryana have not yet begun procuring paddy from farmers though
the government announced the purchase date three days back, according to local
sources.
The President of the
Rice Millers' Association told local sources that their meeting with the state
government over certain issues has failed. He stated that the additional 7.25%
tax, including market fee, rural development fee, infrastructure fund and
cancer cess imposed by the state government apart from the 2% withdrawal tax
imposed by the Central government are reducing their profits. He also noted
that the government's deducting of money for damaged rice is still reducing
their income.
The President warned
that they would not begin procurement until their demands are fulfilled.
Meanwhile farmers are
struggling due to this indecisive behaviour on the part of millers. Most of
them are understood to resort to distress sales due to concerns of lack of
demand.
Haryana is one of the
basmati rice producers in India and contributed to around 2 million tons to the
central pool in KMS 2014-15 (October - September). The government of India
procured around 31.98 million tons of rice as of September 15, 2015 in KMS
2014-15 (October 2014 - September 2015). It is targeting to procure 35.109
million tons of rice during the KMS 2014-15.
Malaysia Targets Rice Self-Sufficiency by 2020
Sep 29, 2015
The government of
Malaysia is targeting to achieve 100% self-sufficiency in rice production,
Reuters quoted local sources.
The National
Agricultural Policy is focusing on increasing rice productivity to avert any
kind of food crises in the country, according to the Acting President of the
International Institute of Plantation Management (IIPM).
He noted that the
country produced around 1.7 million tons of rice in 2014, which accounts for
nearly 71.9% self-sufficiency. So far, the government has been providing
support and financial assistance such as subsidies to farmers to boost rice
production. From now onwards, it will also encourage the private sector to
involve in rice cultivation, he said.
The IIPM Director also
noted that the government is aiming to educate farmers and help them raise
their standard of living. He added that special emphasis will be put enhancing
the rice value chain in the country.
Malaysia produces
about 64% of rice needed for annual consumption of about 2.8 million tons and
imports about one million tons of rice annually, according to USDA.
USDA estimates
Malaysia to produce about 1.8 million tons of milled rice and import about
950,000 tons of rice in MY 2014-15 (January 2015 - December 2015).
Oryza Afternoon Recap - Chicago Rough Rice Futures Finish the Day Slightly
Lower as Market Slows Following Recent Rally
Sep 30, 2015
Chicago rough rice
futures for Nov delivery settled 1.5 cents per cwt (about $0.33 per ton) lower
at $13.325 per cwt (about $294 per ton). The other grains traded mostly higher
today; Soybeans closed about 0.9% higher at $8.8425 per bushel; wheat finished
about 0.4% lower at $5.00375 per bushel, and corn finished the day about 0.6%
higher at $3.8900 per bushel.
U.S.
stocks traded in a range Tuesday, attempting to stabilize after a sharp
sell-off, as biotech stocks bounced and commodities recovered slightly. The
major averages struggled to hold gains in choppy trade. The major averages
remained in correction territory, or more than 10 percent below their 52-week
highs, after closing there Monday. Gains in commodity prices and Europe helped
U.S. stock futures reverse early losses, with Dow Jones industrial average
futures earlier up about 40 points. The bounce helped European stocks recover
from a sharply lower open to close mildly lower.
Asian
stock markets ended the day with major losses, with Chinese stocks off more
than 2% and Japan's blue-chip Nikkei stock index closing down 4.05%.On Tuesday,
S&P/Case-Shiller's 20-City Index reported a 5% rise in July, roughly
in-line with analysts' estimates for a 5.1% increase. The September consumer
confidence index came in at 103.0, topping August's read of 101.3. In afternoon
trade, the Dow Jones Industrial Average rose 63 points, or 0.40%, at 16,061.
The S&P 500 traded up 9 points, or 0.46%, at 1,890, with health care
leading eight sectors higher and information technology and consumer staples
the only decliners. The Nasdaq traded up 12 points, or 0.26%, at 4,554. Gold is
trading about 0.4% lower, crude oil is seen trading about 2.6% higher, and the
U.S. dollar is seen trading about 0.1% lower about 1:00pm Chicago time.
Monday, there were 385
contracts traded, down from 1,210 contracts traded on Friday. Open interest –
the number of contracts outstanding – on Monday increased by 126 contracts to
11,562.
Indonesian President Reiterates Adequacy of Rice Stocks Until Year End,
Rules Out Imports
Sep 29, 2015
The President of
Indonesia has today reiterated that the country's rice stocks of around 1.7
million tons are sufficient until the end of this year and said there is no
need to import rice, according to local sources.
Speaking to a group of
businessmen, he noted that Indonesia's rice stocks are much lower compared to
those of China and the Philippines, but said they would reach comparable levels
if farmers maintained production. He called on farmers, rice traders, rice
millers, and all related parties to work hard to ensure optimal rice production
and distribution.
The President and the
Vice-President are divided over rice imports. The Vice-president, who said the
government would import 1.5 million tons of rice from Vietnam and Thailand due
to likely reduction in production, has warned that too low rice stocks would
lead to price hikes and social unrest. He reminded of a similar situation in
1997 when the then President failed to respond to drought-induced shortages in
rice production.
On the other hand,
Bulog is not commenting on the President's stance though it had earlier
described the stock level below 2 million tons as "alarming". “Of
course it’s alarming, but it is up to the government to decide the next step,”
Bulog corporate secretary was quoted.
Agricultural experts
are advising the government to get exact estimates on production and act
appropriately on imports.
Oryza Overnight Recap – Chicago Rough Rice Futures Seen Little Changed as
Outside Markets Fail to Provide Direction in Morning Action
Sep 29, 2015
Chicago rough rice
futures for Nov delivery are currently trading 1 cent per cwt (about $0.22 per
ton) lower at $13.330 per cwt (about $294 per ton) during early floor trading
in Chicago. The other grains are seen trading higher during morning floor
action; soybeans are currently seen trading about 0.3% higher, wheat is listed
about 0.2% higher and corn is currently noted unchanged.
U.S. stocks traded in
a narrow range after opening mildly higher Tuesday, attempting to stabilize after a sharp sell-off as
commodities recovered slightly. All three major averages briefly turned
negative and struggled to hold gains. On Monday, the three major indices closed in correction
territory, or more than 10 percent below their 52-week highs. The Dow was about
4% above its Aug. 24 low,
while the Russell 2000 ended below its Aug. 24 low. The Nasdaq also flashed a death cross Monday, with its 50-day moving
average falling below the 200-day. Gains in commodity prices and Europe helped
U.S. stock futures reverse early losses, with Dow Jones industrial average
futures earlier up about 40 points. On Tuesday, S&P/Case-Shiller's 20-City Index reported a
5% rise in July, roughly in-line with analysts' estimates for a 5.1% increase.
The September consumer confidence index came in at 103.0, topping August's read
of 101.3. In mid-morning trade, the Dow Jones Industrial Average advanced 37
points, or 0.23%, at 16,039. The S&P 500 traded up 8 points, or 0.43%, at
1,889, with health care leading nine sectors higher and financials the only
decliner. The Nasdaq traded up 20 points, or 0.44%, at 4,564. Gold is currently
trading slightly lower, crude oil is seen trading about 1.6% higher, and the
U.S. dollar is currently trading marginally higher at 8:25am Chicago time.
Global Rice Quotes
September 30th, 2015
Long grain white rice - high quality
Thailand 100% B grade 355-365 ↔
Vietnam 5% broken 330-340 ↔
India 5% broken 355-355 ↔
Pakistan 5% broken 305-315 ↔
Myanmar 5% broken 410-420 ↔
Cambodia 5% broken 415-425 ↔
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 285-295 ↔
Cambodia 25% broken 400-410 ↔
India 25% broken 315-325 ↔
U.S. 15% broken 500-510 ↔
Long grain parboiled rice
Thailand parboiled 100% stxd 345-355 ↔
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% 805-815 ↔
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
Thailand, Vietnam, Pakistan Rice Sellers Lower Some of Their Quotes Today;
India Rice Quotes Unchanged
Sep 29, 2015
Thailand rice sellers
lowered their quotes for Hommali rice by about $5 per ton to around $805-$815
per ton today. Vietnam rice sellers lowered their quotes for 5% broken rice,
25% broken rice and Jasmine rice by about $5 per ton each to around $330-$340
per ton, $315-$325 per ton and $450-$460 per ton respectively. Pakistan rice
sellers lowered their quotes for 5% broken rice and 25% broken rice by about $5
per ton each to around $305-$315 per ton and $285-$295 per ton respectively.
India rice sellers kept their quotes mostly unchanged.
5% Broken Rice
Thailand 5% rice is
indicated at around $345 - $355 per ton, about $15 per ton premium on Vietnam
5% rice shown at around $330 - $340 per ton, down about $5 per ton from
yesterday. India 5% rice is indicated at around $355 - $365 per ton,
about $50 per ton premium on Pakistan 5% rice shown at around $305 - $315 per
ton.
25% Broken
Rice
Thailand 25% rice
shown at around $330 - $340 per ton, about $15 per ton premium on Vietnam 25%
rice shown at around $315- $325 per ton, down about $5 per ton from yesterday.
India 25% rice is indicated at around $315 - $325 per ton, about $30 per ton
premium on Pakistan 25% rice shown at around $285 - $295 per ton.
Parboiled Rice
Thailand parboiled
rice is indicated at around $345 - $355 per ton. India parboiled rice is
indicated at around $340- $350 per ton, about $75 per ton discount to Pakistan
parboiled rice last shown at around $415 - $425 per ton.
100% Broken
Rice
Thailand broken rice,
A1 Super, indicated at around $305 - $315 per ton, at par with Vietnam 100%
broken rice shown at around $305 - $315 per ton. 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.
Thailand's Ex-Premier Sues Attorney General in Rice Pledging Case
Sep 29, 2015
Thailand's former
Prime Minister (PM) Yingluck Shinawatra has sued the Attorney General (AG) and
other public prosecutors for filing a case against her that included additional
accusations that were not originally stated in the case filed by the National
Anti-Corruption Commission (NACC), according to local sources.
The former PM has
filed a suit in the Criminal Court alleging that the AG and the related
officials violated Article 83, 157 and 200 of the Criminal Code.
She alleged that the AG
and the public prosecutors indicted her without sufficient examinations of
information, evidence, and witnesses. She also alleged that during the Court
procedure, the public prosecutors used materials that were not included in the
investigative reports of both NACC and the joint panel consisting of members
from the NACC and the OAG.
The former PM is
facing charges of dereliction of duty in preventing multi-billion dollar graft
in running the controversial rice pledging scheme introduced by her government
in October 2011. The Thai National Legislative Assembly (NLA) impeached the
former Prime Minister on January 23, 2015, and banned her from active politics
for next five years.
The government is also
considering to file a civil case against the former PM, the former Commerce
Minister and 20 other individuals for malfeasance in the
government-to-government (G2G) rice deals.
Meanwhile, the Supreme
Court has postponed the examination of evidence against the former Commerce
Minister and 20 other individuals (who are facing trial in its Criminal
Division for Holders of Political Positions) to November 12, 2015. The Court
reportedly needs more time to examine the 70,000 pages of documents that are
presented as evidence and testimony from hundreds of witnesses.
Thai Government Sells 445,472 Tons of Stockpiled Rice in Auction
Sep 29, 2015
The government of
Thailand has sold about 445,472 tons of stockpiled rice worth 4.57 billion baht
(around $125.48 million) to 12 domestic buyers in auction today, Reuters quoted
the Commerce Ministry.
The Ministry noted
that the sales involved Thai 5% broken white rice and Thai jasmine rice. The
government offered about 462,931 tons of stockpiled rice in the auction. It
reportedly modified bidding rules in this auction in order to encourage price
competition.
This is the seventh
auction this year and eleventh one after the military government took over in
May 2014. The government sold around 5 million tons of rice raising around
53.17 billion baht (around $1.485 billion) from the auctions conducted so far
after it came to power.
The military
government still holds 13.5 million tons of rice in its stockpiles, which were
accumulated under the rice pledging scheme introduced by the previous
government.
USDA Post Estimates Philippines to Import 2 Million Tons of Rice in MY
2015-16
Sep 29, 2015
The USDA Post
estimates the government of Philippines to import around 2 million tons of rice
in MY 2015-16 (May 2015 - April 2016), up from around 1.8 million tons in MY
2014-15 and up from USDA's official forecasts of around 1.4 million tons.
The Philippines
government decided to import an additional 750,000 tons of rice from Thailand
and Vietnam under government-to-government (G2G) deals. Around 250,000 tons are
scheduled to arrive in the last quarter of 2015 and the remaining scheduled to
arrive in the first quarter of 2015.
The Post estimates
Philippines paddy rice production to decline to around 18.73 million tons
(around 11.8 million tons, basis milled) in MY 2015-16, down from around 18.913
million tons (around 11.915 million tons, basis milled) in MY 2014-15 due to
the impact of El Nino dry spell.
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