Cambodian Plans to Expand Jasmine Rice Exports to U.S.
Oct 01, 2015
Cambodian rice
exporters are planning to expand jasmine rice to the U.S. as part of efforts to
diversify export markets, according to Khmer Times.
“The EU market has
already reached its peak, and there is little room to expand there. But we see
plenty of room for growth in the US market. We need to increase our
competitiveness to expand fast,” one of the leading rice exporters was quoted
as saying.
However, there are
concerns that the U.S. fragrant rice market is dominated by Thai jasmine rice
and expanding in such a market would be difficult. Exporters are mainly
concerned that the price of Cambodian jasmine rice is high compared to the Thai
jasmine rice due to lack of competitiveness in the rice value chain locally.
They say they need to compete on brand, price and quality to sustain in the
U.S. market.
They are also
concerned that they could not market Cambodian jasmine rice internationally
despite it being named as the "World's Best Rice" for three
consecutive years.
Experts are calling
for the development of a national branding strategy to compete with the Thai
jasmine rice in various markets. They told reporters that it is difficult to
compete with the Thailand, which occupies about 22% of world's rice export
market. Cambodia's share of the global rice market, on the other hand, is just
1.1%.
Cambodia has exported
around 369,105 tons of milled rice in the first nine months of 2015, up about
37% from around 269,370 tons exported during the same period last year. The
South-east Asian nation exported around 370,000 tons of rice worth $247 million
in 2014.
China Sets 2016 Low-Tariff Rice Import Quota at 5.32 Million Tons
Sep 30, 2015
The government of China
has set the 2016 low-tariff rice import quota at 5.32 million tons, Reuters
quoted the National Development and Reform Commission (NDRC).
The NDRC has also set
quotas for wheat, corn and cotton at 9.636 million tons, 7.2 million tons and
894,000 tons respectively.
The quota volumes are
reportedly same as those of 2015 quotas.
Government of India Rules Out Ban on Basmati Rice Exports
Sep 30, 2015
The government of
India has dispelled the rumours that it is considering a proposal to ban
basmati rice exports and has clarified that there is no such proposal,
according to local sources.
"The Government
of India most emphatically clarifies that there is no truth in such rumours and
the Government is not even considering any proposal to ban export of Basmati
rice," the Commerce and Industry Ministry was quoted as saying in a
statement.
The Ministry also
noted that the government is in fact taking measures to explore new markets and
increase basmati rice exports significantly.
Currently, export of
basmati rice is allowed subject to registration of contracts with the
Agricultural and Processed Food Products Export Development Authority (APEDA).
According to the statement, the current policy related to basmati rice exports
continues without any changes.
Indian basmati rice
exporters are struggling with falling prices and low demand since the beginning
of this fiscal year in April. A temporary ban by Iran is said to be one of the
reasons for their plight.
Asia Rice Quotes Unchanged Today
Sep 30, 2015
Asia rice sellers kept
their quotes mostly unchanged today.
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. 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. 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 was last shown at around $415 - $425 per ton.
100% Broken
Rice
Thailand broken rice,
A1 Super, indicated at around $305 - $315 per ton is on 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.
Cambodia Rice Exports Increase Sharply in First Nine Months of 2015
Sep 30, 2015
Cambodia has exported
around 369,105 tons of milled rice in the first nine months of 2015, up about
37% from around 269,370 tons exported during the same period last year, local
sources quoted data from the Secretariat of One Window Service for Rice Export
Formality.
The top three
destinations during the eight-month period were China (78,182 tons), France
(50,266 tons) and Poland (41,022 tons), according to the official data.
However, Cambodia's
rice exports declined month-on-month in September 2015. Cambodia exported
around 26,969 tons of milled rice during the month, down about 10% from around
29,819 tons in August 2015. Year on year, Cambodia's rice exports declined
about 24% from around 35,511 tons exported in September 2014.
Cambodia exported
around 370,000 tons of rice worth $247 million in 2014. The government of
Cambodia aimed to increase rice exports to one million tons (including official
and unofficial exports to Thailand and Vietnam) in 2015 but noted that it is
unlikely to achieve the target due to inadequate milling facilities and
infrastructure as well as lack of access to funding.
USDA estimates
Cambodia to export 1.1 million tons of rice (including official and unofficial
exports to Vietnam and Thailand through borders) in 2015, up about 10% from an
estimated 1 million tons in 2014.
Vietnam 2015 Paddy Rice Output Estimated to Slightly Increase to 45 Million
Tons
Sep 30, 2015
Vietnam's 2015 paddy
rice output is estimated at around 45 million tons, up about 0.3% from the
previous year, local sources quoted the Ministry of Agriculture.
According to local
sources, about 91.2% of the total area under the summer-autumn crop has been
completed. Officials are estimating the average yield from the crop to increase
to around 5.4 tons per hectare from last year's 5.32 tons per hectare due to
favourable weather conditions.
The Mekong Delta
region reportedly planted over 612,000 hectares of autumn-winter rice crop this
year, up about 4% from last year. About 20% of the crop is said to be harvested
and the yield from the crop is estimated at around 5.43 tons per hectare.
Local sources say the
paddy rice output on northern Vietnam is likely to decline by about 1% due to a
1.3% decline in planting area.
About 53% (or 4.1
million hectares) of Vietnam's 7.7 million hectares rice fields are
concentrated in the Mekong Delta.
Government of Indonesia Plans to Intensify Rice Market Operations to Curb
Price Hikes
Sep 30, 2015
The government of
Indonesia has decided to intensify rice market operations in the wake of
increasing domestic rice prices over the last one month on concerns of low
production and stocks, according to local sources. It started rice market
operations since last Friday through the warehouses of state logistics agency
Bulog to stabilize prices.
Price of medium-class
rice had reached a high of Rp 10,330 per kilogram (around $699 per ton) in the
beginning of this week from around Rp 10,003 per kilogram (around $677 per ton)
last week. According to the UN's Food and Agricultural Organization (FAO),
average rice prices stood at around Rp 10.27 million (around $720) per ton in
September, up about 1.3% from around Rp 10.14 million (around $740) per ton in
August, and up about 15% from their year-ago levels of around Rp 8.93 million
(around $750) per ton.
The officials in the
Trade Ministry are confident that the prices can be corrected through rice
market operations since they have increased by less than 2%.
Meanwhile, the
President has assured of adequate rice stocks till the end of this year and has
ruled out imports. However, 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.
Rice stocks with Bulog
are at around 1.7 million tons and are likely to increase considering fresh
stocks from the upcoming harvest. Bulog is presently silent on the matter and
has left the rice imports decision to the government. Agricultural experts are
advising the government to get exact estimates on production and act
appropriately on imports.
Japanese Rice Farmers Protest Against Likely Increase of U.S. Imports Under
TPP
Oct 01, 2015
Japanese rice farmers
are protesting against the likely increase in rice imports from the U.S. under
the Trans-Pacific Partnership (TPP) deal, according to local sources.
Some 250 farmers from
across the country carried out a rally in Tokyo calling on the government to
adhere to the "Diet" (Japan's bicameral legislature) resolutions,
which aim at protecting the major farm items from foreign competition.
They are urging the
government not to expand rice imports as the farmers are already struggling
with falling rice prices. The protests follow reports that the Japanese
government is planning to allow over 100,000 tons of rice imports from the U.S.
But they would be divided between a new country-specific tariff-rate quota
(TRQ) under the TPP deal and an additional informal allocation of Tokyo's existing
WTO TRQ.
Under the TPP deal,
Japan is planning to allow 50,000 tons of duty-free rice imports from the U.S.
and gradually increase up to 70,000 tons. However, the U.S. has been
negotiating with Japan to increase its duty-free rice import quota to around 100,000
tons under the TPP and Japan’s disagreement to the same has been stalling the
TPP talks for the last few months.
In order to take the
TPP talks forward, the Japanese government will reportedly increase imports
from the U.S. by 2,000 tons from the fourth year of the agreement. In addition
to the above, Japan may agree to informally allocate between 45,000 - 50,000
tons of its annual WTO TRQ, which is currently 682,000 tons (on a milled
basis). Currently, Japan imports about 770,000 tons of rice under the annual
minimum market access (MMA) quota according to the World Trade Organization
(WTO) obligations.
The farmers are urging
the government to withdraw from the TPP and protect the rice sector.
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
|
330-340
|
↓
|
Brazil half grain
|
NQ
|
↔
|
Medium grain milled
|
All prices USD per
ton, FOB vessel, oryza.com
Oryza Overnight Recap – Chicago Rough Rice Futures Flat as Markets Prepare
for Stocks Report from USDA
Sep 30, 2015
Chicago rough rice
futures for Nov delivery are currently trading 1.5 cent per cwt (about $0.33
per ton) lower at $13.310 per cwt (about $293 per ton) during early floor
trading in Chicago. The other grains are seen trading mixed during morning
floor action; soybeans are currently seen trading about 0.6% higher, wheat is
listed about 0.2% lower and corn is currently noted 0.4% higher.
U.S.
stocks traded sharply higher Wednesday,
following global markets higher in an attempt to ease the pain of the worst
quarter in four years. The major averages quickly gained more than 1% in the
open, with the Dow Jones industrial average jumping more than 200 points. The
S&P 500 recovered to trade above the psychologically key 1,900 level. Dow
futures were more than 160 points higher, while European markets traded more
than 2% higher. Asian stocks closed broadly higher, with Japan's Nikkei 225
stock index rallying 2.70%.Analysts are watching to see if sharp gains in U.S.
stock index futures are sustained throughout the day. The major U.S. averages
are on track for a quarterly loss of more than 8.5%.Concerns about spillover
from slowdown in China and the timing of a Federal Reserve rate hike sent markets
into correction territory, or more than 10% below their 52-week highs, in late
August.
Ahead of Friday'skey nonfarm payrolls data, the September ADP
Employment report showed private companies added 200,000 jobs. Developments in
Washington could fall under the spotlight since the Federal Government runs out
of money at midnight –
unless Congress and the President approve a new budget or a continuing
resolution. Failure to reach an agreement will result in a government shutdown.
In morning trade, the Dow Jones Industrial Average gained 228 points, or 1.42%,
at 16,276. The S&P 500 traded up 28 points, or 1.5%, at 1,912. The Nasdaq
traded up 82 points, or 1.82%, at 4,599. Gold is currently trading about 1.3%
lower, crude oil is seen trading about 0.1% higher, and the U.S. dollar is
currently trading about 0.4% higher at 9:00am Chicago time.
Oryza Afternoon Recap - Chicago Rough Rice Futures Fall on Lack of
Interest; Wheat and Soy Find Support from Grain Stock Update
Sep 30, 2015
Chicago rough rice futures
for Nov delivery settled 12.5 cents per cwt (about $3 per ton) lower at $13.200
per cwt (about $291 per ton). The other grains traded mostly higher today;
Soybeans closed about 0.9% higher at $8.9200 per bushel; wheat finished about
1.8% higher at $5.1275 per bushel, and corn finished the day about 0.3% lower
at $3.8775 per bushel.
U.S.
stocks traded higher Wednesday, following a rally in global markets in an
attempt to ease the pain of the worst quarter in four years. The major averages
halved gains in midday trade, holding about 1% higher after rising more than
1.5% in morning trade. In pre-market trade, Dow futures were more than 160
points higher, while European markets traded more than 2% higher. Asian stocks
posted gains, with Japan's Nikkei 225 stock index rallying 2.70%. Soft data in
Japan and the euro zone boosted hopes of more stimulus in those regions.
Japanese industrial production unexpectedly fell 0.5% in August for the
second-straight month of declines, government data showed Wednesday.
For
the first time in six months, euro zone prices fell in September from the same
period last year, according to the European Union's statistics office Eurostat.
Analysts also noted support for Tuesday's gains from continued signs of
improvement in the U.S. labor market. Ahead of Friday's key nonfarm payrolls
data, the September ADP Employment report showed private companies added
200,000 jobs. In afternoon trade, the Dow Jones Industrial Average gained 145
points, or 0.91%, at 16,195. The S&P 500 traded up 21 points, or 1.13%, at
1,905, with consumer discretionary leading all 10 sectors higher. The Nasdaq
traded up 69 points, or 1.55%, at 4,587. Gold is trading about 1% lower, crude
oil is seen trading a touch lower, and the U.S. dollar is seen trading about
0.4% higher about 1:00pm Chicago time.
Tuesday, there were
1,020 contracts traded, up from 385 contracts traded on Monday. Open interest –
the number of contracts outstanding – on Monday increased by 28 contracts to
11,590.
Philippines May Import More Rice if Needed, Says Economic Planning
Secretary
Sep 30, 2015
The government of the
Philippines is prepared to import more rice if needed, Bloomberg quoted the
country's Economic Planning Secretary.
The official noted
that the current imports of over 2.3 million tons are sufficient till the
second quarter of 2016.
He told reporters that
the government is working on a roadmap to combat the effects of El Nino, which
is expected to last till the middle of 2016 and be as intense as that in
1997-98 when the farm output fell by 23% and prices increased significantly. He
also note that government is ensuring fiscal space in the budget to lower the
impact of extending drought conditions on farmers and consumers.
He also assured that
the government is also working towards averting power shortages to support
farmers during drought.
The official stated
that the government may ask farmers who are unable to plant during drought to
help it build farm-to-market roads.
India Average Wholesale Rice Prices Increase for Second Consecutive Month
in September 2015
Sep 30, 2015
India average
wholesale rice prices increased in September 2015 for the second consecutive
month after declining for last two months. The decline can be attributed to
concerns of a shortfall in production due to below-average monsoon rains.
Average monthly
wholesale rice prices in India increased to around Rs.2,696 per quintal in
September 2015, up about 1% from around Rs.2,667.30 per quintal in August 2015,
and up about 5% from their year-ago levels of around Rs.2,570 per quintal.
In terms of USD per
ton, wholesale rice prices in India stand at around $408 per ton (using current
exchange rates) in September 2015, up about 1% from around $404 per ton (using
historical exchange rates) in August 2015, and down about 2.6% from around $419
per ton (using historical exchange rates) in September 2014.
India’s average prices
are likely to increase further if India’s production is dampened by
intensifying El Nino weather pattern, which is likely to cause drought
conditions in Asia. The government of India is monitoring the impact of El Nino
on monsoon rains in the country, which are expected to be about 16% below
normal during the second half (August-September) of the monsoon season
(June-September).
However, below-average
rains have so far not affected this year's kharif rice planting operations.
Total rice planted area stood at around 37.409 million hectares as of September
24, 2015, slightly up from around 37.386 million hectares planted during the
same time last year.
The government of
India has forecasted the 2015-16 kharif (June - December) rice production at
around 90.6 million tons, slightly down from around 90.86 million tons in
2014-15.
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